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My family wants me to help them buy a property?

I graduate in May with my BSN. About 2-3 weeks ago, I passed my NCLEX. I didn't make that much as a graduate nurse about 2-3 thousand a month. Now my hourly salary increased by a bit since I'm an RN. My family has been pressuring me into helping them buy a 5-acre farmhouse ($150,000). I guess they think I'm "rich" because out of all my family members I'm the one that makes the most money. I'm currently renting an apartment with a friend which I pay half for the apartment ($500). I'm paying for a car ($400) and other necessities from apartment, car, insurance, and even my kid's school. I don't feel too sure about trying and helping them since I'm barely starting out as a nurse. My former professor told me to avoid buying a home as a starting nurse and work my way up until I feel more confident with a big purchase. What do you guys think? I feel bad just by thinking about telling them I can't help them out by buying a property...
  • Answers
  • do not let them think you will do it later ,, no now no forever
    Clickman · 7 0
  • JUST DO IT EASY AND SAY NO... I DO NOT WANT A FARM>>> I DO NOT WANT PROPERTY RIGHT NOW... I am waiting until I DECIDE I WANT TO purchase land or a house before I take that step... DO NOT LET THEM KEEP PRESSURING YOU UNTIL YOU DO IT...STAY STRONG AND JUST SAY NO... NOT NOW...
    retired old sarge · 0 4
  • Tell them you are in no position to help someone else buy property when you are not in the position to buy your own. You may be making more money, but banks require you to be making that money for at least two years before they will consider that income reliable enough to give a mortgage.
    curtisports2 · 12 1
  • The fact that your family sees you as a money tree tells you everything you need to know. Don't do it. and don't be afraid to cut off contact if they keep pressuring you. No means no.

    You didn't see anyone here advising differently, did you? This has more to do with your relationship, you willing to be a doormat, than your financial situation. Same advice if you just won the lottery.
    Mark · 8 0
  • Sounds like a very bad idea, particularly if you won't be living there. If "they" don't make their payments on time, you will be stuck with the full payments, which you probably can't afford.
    DON W · 9 3

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