Buying A Home
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Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
To buy, or to save??
Ok, I can't decide what to do. My husband and i separated (he had an affair) and I moved back in with my parents. It's really different moving back in with your parents. I love my parents dearly, and they enjoy me being home, but I also miss being on my own, and having my own house. I know I can stay with them for as long as I need to. But, I can't decide if I want to buy a house, or continue to live with my parents (maybe up to a year) and save some money. I know in my area, it's a buyers market and there are some really good deals on houses. And, interest rates are really low. I can't decide what to do! 
Re: To buy, or to save??
I'm so sorry to hear of your news. If you are seriously considering buying, do you have a down payment plus 6 months of expenses saved? It's not a good idea to buy without having that cushion since you never know what might come up once you're a homeowner. You move in and the furnace goes, the hot water heater breaks filling the basement with water, etc.
Also, does it have to be live with parents or buy? It sounds like renting a small place might be a good idea while you figure out what you want next.
Our realtor told us we shouldn't consider buying unless we were committed to staying in this house 7-10 years. (Otherwise, we'd almost definitely lose money when we go to sell, because of how much closing costs you have to pay as the seller.)
If you're not sure you want to live in that town for the next 7 years, I wouldn't buy a house.
You could look for a house for rent. If it's a buyer's market where you are, then chances are a lot of people that were unable to sell their house and are currently renting them out (even at a loss).
I take it you are recently separated since you didn't say divorced. IMHO, you seem to be in a transitional phase in your life and it my not be a good decision to invest in a house. What you want in your life this year may be totally different than next year. I say find an affordable place to rent and take some time for yourself to see where you want to go next in life. A house is a HUGE investment that you could lose all your money on if you have to sell in the next 3-5 years.
Right now - rent and save. Pay off all consumer debt. Get your financial feet under you with at least 6 month's expenses in an emergency fund, save for a 20% downpayment, closing costs, moving costs, repair/renovation costs, decorating, furniture,applicances and yard items - all in place prior to buying.
Your life may change directions and until you let at least a year or two pass, I would not buy. Housing will remain low as well as mortgage rates. The Fed is not raising the prime rate until after 2013.