Why Am I Doing This?

This is about to get real personal.

If you’re wondering why I’m starting a blog on home buying, the answer is simple. I’m very insecure about my writing, and had no clue what a fixed-rate mortgage is until a month ago. My hope is the feedback I get from you guys will allow me to be a stronger writer and smarter consumer. Altruistically speaking, I hope my journey and lessons learned will help empower other millennials who aspire to be home owners someday.

Your next question is probably, “Why is she buying a house, and why now?” I live in San Francisco – arguably the most expensive city in America. I have been contributing to my landlord’s mortgage for many years now ($3,000/month if you’re wondering). Why not apply that money toward my own place? Sounds like a no-brainer, right?

The idea of buying a house has been brewing in my head for the past 4-5 years. Many young people are perplexed and overwhelmed by the idea of saving money, let alone investing and home ownership. My advice for anyone in this predicament is to understand how home ownership fits into your short-term and long-term goals (envision your life between now and retirement). This exercise should help you make a confident decision and avoid the trepidation I experienced.

Why keep renting:

  • I don’t know anything about home buying… where do I even start?
  • I don’t know anyone my age who has bought a house
  • The market is too competitive and filled with experienced, repeat buyers
  • What if I want to move?
  • What if I lose my job?
  • What if the housing market crashes?
  • I’m scared to take out a loan
  • I’m single… isn’t home ownership mostly for couples?
  • I don’t know anything about interior design/decorating
  • I don’t have a handyman boyfriend/husband who can help me fix things around the house

Why buy:

  • Paying $3,000 in rent is really stupid
  • My 800 credit score can get me a pretty good interest rate on my mortgage
  • I have enough savings to afford more than a 20% down payment for most houses in the area I’m looking
  • I have no debt or other major financial responsibility
  • I could use some tax savings
  • Home ownership is one of the greatest ways to build wealth

Ultimately, I decided that home ownership is what I need to diversify my wealth and investment portfolio. Whether you are a full-fledged adult or a 30-year-old living with roommates (hey, not judging), you are invited to join me on this exciting and scary journey to home ownership!

One thought on “Why Am I Doing This?

  1. This is an informative and engaging post. Keep on writing; you’ll be supporting yourself because writing is a form of self discovery that mere thinking cannot replace. And of course, “altruistically” speaking, others will be informed, inspired, and comforted by your words!

    Liked by 1 person

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