I'm 21, and a sophomore in college. I have a ways to go. I live at home with my mother...we get along well usually, but I'm depressed and I'm not friendly very often. Anyway her mother recently passed away and she inherited a lot of money which is huge because we've always done OK, but she's always had a lot of debt. I got some money too which I've never had before (10k, but I've locked up 7k of it so I can only touch 3k). She paid off all her credit cards and other debt and offered to buy me a foreclosed condo just across the street from her backyard. She said I would have to make payments to her and I would eventually own it. Right now I spend my paychecks on random things and don't really have a problem sacrificing that to pay for a place to live. I don't make too much money but I do have enough for payments. I told her no, because I'm saving pretty well right now and wanted to purchase my first home by myself. I'm about half way there and I can withdraw some extra money from my IRA (they allow first-time homeowners to do so) when necessary. After thinking about it more it may be a good idea. I'd save money on payments (most likely) since she could get a better interest rate than I ever will. Not to mention the place is a bargain right now. Moreover, I've been dying to move out for a while now. What do you think?