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Should I rent for another year or is 3% down good enough?

Single, 31 year old male who moved back home last June because of the pandemic. Currently I am looking for a house around the 350k range. I have a great credit score and have about $20,000 for a down payment/closing costs. I've been looking the past few months but there hasn't been much out there as far as houses go. I told myself that if I don't buy one by April/May I'm going to back to renting for a year and save more money for a down payment. I found an apartment that I could rent for about $1600/mo for 15 months. I then could save about $1000/mo and have another $15,000 for a bigger down payment. Obviously I could save even more if I stayed at home however as a single 31 year old buy it isn't the best place for my dating life/social life . After that 15 months I'd have about $35,000 for a down payment and could easily be more, depending how diligent I am at saving. Should this be something i consider since I don't have the biggest down payment for a house?

submitted by /u/CraigM120
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source https://www.reddit.com/r/RealEstate/comments/luu3be/should_i_rent_for_another_year_or_is_3_down_good/
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