Are you the Head of Household?

I pay less for my mortgage than I would for rent. Especially if she has a good down payment, she should be able to get a house for the same or less than she is paying into rent, and that way, she is building equity, and not just handing the money to a landlord. She also gets another big tax deduction that way, the interest on her mortgage and property tax are both deductable. Just make sure she has a realistic idea of utilities and expenses, and is putting some money away for any emergency expenses that come up, a leaky roof or blown furnace, when you own, you can't just call maintenance. Buying a home is generally a great investment and a smart thing to do with your money.

No I am not head of the household we share it we believe that one partner should not be the head of the family, oh yes I think that your niece will be getting way over her head and into debt with buying a home, unless she has a big deposit to buy the home. No I do not think it is a good idea at all.

i am head of household for my home. If she can find a great house for a great price she could do it. I mean she will have to sit down and figure out what she can afford. But she also has to take into consideration the other expenses that comes with owning a home, such has homeowners insurance, trash removal, upkeep of the home, taxes, ect.

the brother is the head of our family.

Yes I am the head of the household because I'm the oldest one in my house and I have 3 kids and a maid. I have no job at the moment though. I have financiers that support me. Anyway, if your niece is renting right now, she can probably afford house payments. She just needs to find a low priced place, not a dreamy house ofcourse. Everyone hates to rent. I own my own house but still making payments for it. It's one of the bills you can't forget.

well i don in that manner because i think my wife would handle my house better than me.

If she is getting that much back, maybe she should take another look at her withholdings. I think it might be a good idea to buy. The housing market is continually going up, and getting in as soon as you can can be a good idea.

are you liable for her?do you have to help her?then you have a right to be worried.

The idea is good that she contribute in buying the house ,but what is the use people are frogeterful and do not appricate the good turn you have done by working your butt off.

I think that what she has planned is an excellent idea. Most people get these checks and just go wild spending on nothing really and before they know it the money is gone and they really don't have anything to show for it. I am head of household and each year I either pay off a car payment or some other bill. Last year I was interested in using my return to buy a house and went in and started on everything and the way that it was explained to me was do I pay rent? If so how much is my rent? Do I live comfortably or are we scraping by? Thinking of all of these things yes I paid rent and yes what I paid was comfortable. The object then is finding something that my house payments will not be more than what I am paying. I would just tell her not to rush into anything and make sure she does not go over the amount that she knows she can afford comfortably as this is a great investement for her and her kids.

i am not the head of household...i am just 25 years old...and i am not interested to get married to....i don't know why...

I bought my first house at age 23. and I was single. You can own a home and be single, you just have to understand your expenses, and NOT buy a home that you can't afford the mortgage payments. It's that simple... do that math and any mortgage lender or banker can help you understand what price house you can or cannot afford. The real question may be her financial standing and if a bank WILL lend her money to purchase a house. If she has a low income, has lots of debts (i.e. high car payment) and has a low credit score, she may have a hard time getting a mortgage at all. And to answer your original question - my husband and I earn equal incomes, but since I manage ALL of our finances, I consider myself head of household! :P

I have small Family no i am very rich so I dont pay ITR.

Buying a house is a HUGE commitment. If she's not able to pay her mortgage on time every month, she could end up losing her place. My advice would be for her to see a financial consultant. Most banks offer free consultancy. They would be able to help her work out her budget and see if she can afford to buy a place and keep it.

Thats a big step for her, I wish her well. Can she manage all her payments on her salary? Thats smart if she is looking into a two family building. The rent from the one unit will help pay for it. Tell her one of you friends from mylot said good luck.

It's my husband who is the head of my family. I do hope all the best for your niece, I understand how you feel. My husband just bought me a new car. I am just glad that our house is now paid off. But I worry too much for not going to take a vacation in the Philippines because of that. He is paying over $500 a month for the car. Although I know he can pay that but I am just worried that we might not be able to travel very soon because we have to pay off our debts first. Good luck to your niece. I do hope she'll be able to manage it paying all the bills.

No, i am not the head of houshold, i am only the mezyn of the family, but i know a lot of my family taxes and bills.If your niece bought a car with the money from selling the house, i don`t quite see her well! However, good luck!

oh well nope i am not the head of the house...my dad is the head of the house...he is the main decison maker in my house.....

Hi. My husband is our head of household. I remember back before we met, I used to get the earned income credit on taxes and it was a very nice return. Now we are lucky to not have to pay in. How old is your niece? Has she ever tried to manage her own place before? If she has some experience, maybe she will be okay. If she doesn't have any experience in owning a home, I think maybe she should wait a while if she only barely gets by making it right now. Thats what I think anyways.

I am not our head of household. As for your neice there are government programs she could qualify for if she is low income and/or a first time homeowner. The USDA housing, I believe is the name of it. They can help with down payment assistance and closing costs. I think that is something that would really be worthwhile to check out. I understand your concern for her! Goodluck to you both!