Should i buy a house?

i am 18 and have enough for 20% and can pay for the loan with a job that pulls in 30k a year the house costs 100,000 and i would like to know if it is a good investment for me to do ( i plan on renting a few friends to live with me)

Want real advice?

Be cautious on the house (the market's going down anyhow) -- although a bank/lender usually wants to see 2-years of solid earnings you technically CAN pull this off, maybe... BUT 18 is awfully young for this, and it's not a bad decision to rent for a few years (and save the $$$ - don't let it burn a 'hole in your pocket'). Focus on JOBS and earnings, and starting a career.. and don't get ahead of yourself -- and I'm saying this to give you and your friends some time to grow a little... listen, your friends may be a problem, here.

No, BIGTIME on the friends hanging around the house etc. (right now, they're just tooling you -- to use YOUR money for their benefit "it would be fun, dude") -- or, helping with the rent. You're too young to know, that they will soon become freeloaders, and you're not ready for the anger/frustration and legalities on what they're "rights" would be with or without a lease.

Wait two years. Let your money grow in a CD until then.

Sounds good to me, all around...especially since it's only in your name and can possibly make you a profit...do you know that you want to live in that area for a long time?

Yes I say go for it. I would caution you to only put down 15% on the house and save the other 5% for those unexpected things that pop up when you purchase and own a house. Have you thought about the insurance, you want home owners and flood. What if the Air-Conditioner breaks? etc...
GOOD LUCK. owning a home at your age is a great thing.

No and here's why.
Your income will barely cover the costs if you have NO tenants/roommates. Take into consideration payment, taxes, utilities, insurance, groceries, upkeep, phone, cable,going out. Add up those monthly costs, add to the cost of the mortgage. Then take your monthly income of $2500.00 before taxes and see if it covers all those expenses.

Owning your own house is the greatest..I own my own around ur age.just remember property taxes and insurance..Its great you will be renting it out for your friends.It sure will help..Good luck..Go for it

If you plan to live in the house for more than two years and you have your friends on a lease and a leash...Sorry I was 18 once and boy do I remember..anyways.
It is a good investment but be prepared for extra costs.