I'm a 20 year old full-time college student with a part-time job (making VERY little). Currently, I live with my parents and everything works out fine. I have a full-ride scholarship and don't have any student loans. In addition, I've saved about $21,000 in various money markets, mutual funds (Janus and Franklin Templeton), and savings accounts. If we bought a home, my parents would totally help me with bills, mortgage payments, etc, plus they would get a tax break (second home).

We're in no rush to purchase a home, but what would you all recommend considering my situation? Wait a while and stay at home? Keep saving? Purchase a house or townhouse (which one?)? Rent?

Oh yeah, the price range we're looking at is between $50,000-100,000 for a small home. Also, we live in a safe area with a good school district where homes tend to appreciate.

Thanks for your advice.

You should get an apartment. Just because your a college student doesn't mean your should depend on your parents to help you with your bills. When things get hard you have to be responsible enough to handle it. How the heck are you going to make your mortgage on your salary.

Your better off rephrasing the situation as Mommy and Daddy are going to buy a second home and they are going to let you live in there for free. If that was the situation then jump at it I guess...