BSN or save for a house?

Published

Not sure where to post this so steer me in the right direction. I finished ADN school in May, I have a good paying job and I want to pursue my BSN however it is $4000 per semester for 2 semesters and I need to save for a house. I know that my earning potential will go up, but I am currently working in Home health at $24/hr and while that may not seem like much it is pretty good for around here, and all I have is my ADN, and there is no special treatment or pay raise for a BSN. I love home health and do not plan on going to the hospital, but I want my MSN eventually because I know it will be worth it and such an accomplishment. I want to save $20,000 for a down payment on a house, but if I get my BSN that is going to cost me $900 a month for a year which is a pretty good hunk of change, and I am not doing a loan. So this is just a "what would you do" question. Would you... Go ahead and go for the BSN then MSN and put off your dreams of a home for another 2 years (SO SICK OF BEING IN SCHOOL and ready to start seeing the fruits of my labor) or would you put off school a couple of years, save for your home since you have a job and are making decent money for your area on the degree you already have, focus on work and advancing in the company? Thanks for any advice!

Up Vote Up Vote ×

Not that an education is not an investment but I think that I would steer more towards the house. But that's just my opinion and it's probably not worth much :) I just think that especially since you aren't gonna get any kind of raise. I am definitely not a financial adviser. lol

Up Vote Up Vote ×

Work is more likely to finance your BSN than a house.

My vote is house .

Plus education loans are easier achieved than mortgage.

Up Vote Up Vote ×
Specializes in Nurse Scientist-Research.

I would normally promote BSN over house, but you have a job and you didn't say you hated it. Most of the reason I recommend BSN is because of the trouble finding work, but you have that covered. Reconsider if you feel you must to go to a job where BSN is required.

Get the house. Don't wait too long to go back to school though. Maybe in time you can go to work where there is tuition reimbursement.

Up Vote Up Vote ×
Specializes in Leadership, Psych, HomeCare, Amb. Care.

Just because you love your job now, doesn't mean you will feel the same 2, 5, 10 years from now.

The BSN increases your employability & positions you for your next job.

Up Vote Up Vote ×

Work and learn everything you can. Experience has its own value.

Save your money-call it your "freedom fund". Nothing feels as free as having money in the bank. After a couple of years, you can decide if you want to look at houses or further schooling. When you say an MSN might be 'worth it', do you mean financially lucrative or simply for the joy of learning?

In the future, you might get a job that has tuition reimbursement and you can work while your employer picks up some of the cost of your BSN.

Up Vote Up Vote ×
Specializes in medical surgical, homecare hospice.

During this current time I would say you should return to school and complete you BSN and go for the house afterwards. The minimum requirement for most facilities is a BSN and even with a BSN it is still difficult to find a stable (I'm not referring to per diem) job.

You need your career to pay for a mortgage.

Good Luck!

Up Vote Up Vote ×

Definitely go for the house. I don't know about where you are but here a nurse is a nurse for most positions in hospital. Usually only management postings specify that a Bscn is necessary. Every other hospital position is based on seniority as a RN, not level of education, other that specialty areas requiring the certificate pertinent to that area.

Up Vote Up Vote ×
Specializes in LTC, Psych, M/S.

Maybe you could just start taking one or two classes at a time.

Up Vote Up Vote ×

Go for the house now while prices and interest rates are still low and see if your employer can help you chip away at your BSN.

Up Vote Up Vote ×
Specializes in Oncology; medical specialty website.

Signing "BSN" behind your name would feel so good. Putting the key in the door of your house? That would feel awesome! Get the house. Down the road, if you still want to get your BSN, you can refinance.

Up Vote Up Vote ×
Specializes in Nursing Professional Development.

I was in my 40's when I bought my home. I took care of my education first -- and I have no regrets.

Home ownership is not all it's cracked up to be. When I eventually leave where I live now, I do not plan on buying another one. I have found ownership to be more expensive than anticipated ... WAY to much hassle ... and it makes me feel "tied down." I suppose it is something most people need to do at least once in their lives (or they think they have missed something wonderful), but it's not always wonderful. I'd recommend getting the education first.

Also, there is no need to make it an "all or nothing" proposition. Why not do both? Start back to school part time and put a little money aside to buy yourself a house. It will take a little longer to save up for the house, but you'll get there eventually. (And no one believes that interest rates are suddenly going to skyrocket. They may go up a bit, but it will be years before they are as high as they once were.)

Up Vote Up Vote ×
+ Join the Discussion