Young potential home buyers are best positioned to become owners when they have minimal credit-card balances, manageable student-loan debt, and a large-enough income to qualify for a mortgage and spend on a down payment.

There are screaming buys out there, and those who are positioned properly should seize the opportunity, says Patrick L. Doland, principal of Reason Financial Advisors Inc. in Northbrook, Ill.

But some financial advisors warn that young couples who don’t have solid jobs or manageable debt should consider waiting before they buy.

Even if you consider in the grand scheme of things that prices are low now and that you may get a low-interest-rate mortgage, this is still a huge purchase, says Dylan L. Ross, founder of Swan Financial Planning LLC in East Windsor, N.J. Here’s an analogy: It’s like getting married without dating first. Things may look and sound great, but you’re getting into this big commitment.

Source: Investment News Daily, Darla Mercado