Love your prospective on this!! I love all of your content - it’s so nice to see someone with goals and the mindset of financial freedom in their 20s instead of only focusing on what bar they’re hitting up on Saturday night lol
I paid cash for my condo back in 2015 and became completely debt free in 2019. My only regret is that I didn't do this sooner. I was 34 when I purchased my condo. I wish I was in my 20's with this mindset. Keep up the good work Erin and don't let anyone make you second guess this. The majority of people who have wealth own homes. Good luck to you. Pittsburgh has so much great property to invest in.
I bought my first house as a single 24 year old in 2018 and it’s still the best financial decision I’ve ever made. Last year, I opened an HYSA that my fiancé and I contribute to for our family home we plan to buy in 3-4 years with the goal of renting out our current home in the city. Financial freedom is so worth it!
Don’t forget to have fun at your age as well, I lived downtown from ages 21-31 and kind of miss it, I think it’s very smart to invest in real estate at your age & I would consider if the place would be rentable once you want to get you “family house” ie you could keep it and just rent it out. also my 2 cents on putting 5 vs 20% down, if you put 5% down instead, you could get a second property that would cash flow thus getting you closer to your financial freedom sooner. Think of money as a tool you can use to make more money rather than a way to “save money” and you’ll make a lot more. Debt is not bad it’s a tool, that’s why most of the richest people in the world use it as such. Either way 👏 on getting into the game and know you’ll do well regardless.
Thanks Erin! I’m curious where the idea that you have to stay there for 5-7 years comes from and whether you ran any calculations to confirm this makes sense? I assume it has to do with the fees you can’t recover from buying and selling (similar to what you said about the costs of moving apartments every year). Thanks again!
yeah that’s basically what i’ve heard - sunk costs to buy only make sense if you plan on keeping it for 5+ years :) just what i’ve heard i haven’t like calculated anything hahaha
Sink, single income no kids, purchasing a home in today’s market should be celebrated. Also, you’re young and have time, if numbers are on your side in the future, refinancing is also an option in the future to pay off faster.
Too much focus on the mortgage payment. You still have to take into account utilies, water, electric, maintenance, property taxes, etc. Always add an extra $500 - $1,000 to give a rough estimate on how much you'll actually end up paying. Way too many people don't do this, end up house poor and wonder where all of their money is going.
have you considered all the tax benefits you will get from owning a house? also, by putting 20% down you avoid ppi payments. Last thought, have you ever considered using the home as a rental property to make passive income ?
I’m planing on buying a mobile home next year I live in California so houses are too expensive my question is do u have a savings account specifically for ur home?
Taxes, insurance, HOA, manetenance are all chasing their cut of your equity. With housing these days 20x income, it's probably not the path to financial independence it was 25 years ago when housing was 4x income. Generation Z women are dumping their houses & going into joint mortgages with their husbands & it sucks when they get divorced. They're still picking men of much higher status & giving it everything they have, just like 1950.
my home budget is NOWHERE near 20x my income… its actually under 4x my income. and please explain to me how i just made a whole video about buying a house on my own and your response is how gen z women buy with their husbands? makes zero sense
I wish more people looked at home ownership in the sense of financial freedom for their future! Loved this!
thank you! 😊
Love your prospective on this!! I love all of your content - it’s so nice to see someone with goals and the mindset of financial freedom in their 20s instead of only focusing on what bar they’re hitting up on Saturday night lol
I paid cash for my condo back in 2015 and became completely debt free in 2019. My only regret is that I didn't do this sooner. I was 34 when I purchased my condo. I wish I was in my 20's with this mindset. Keep up the good work Erin and don't let anyone make you second guess this. The majority of people who have wealth own homes. Good luck to you. Pittsburgh has so much great property to invest in.
thank you!! that’s amazing congrats on your accomplishments 😊😊😊
I bought my first house as a single 24 year old in 2018 and it’s still the best financial decision I’ve ever made. Last year, I opened an HYSA that my fiancé and I contribute to for our family home we plan to buy in 3-4 years with the goal of renting out our current home in the city. Financial freedom is so worth it!
that’s amazing congrats! 😊
This has been on my mind then bam a whole video - thank you Erin!
awe yay!!! thank you 😊
Don’t forget to have fun at your age as well, I lived downtown from ages 21-31 and kind of miss it, I think it’s very smart to invest in real estate at your age & I would consider if the place would be rentable once you want to get you “family house” ie you could keep it and just rent it out. also my 2 cents on putting 5 vs 20% down, if you put 5% down instead, you could get a second property that would cash flow thus getting you closer to your financial freedom sooner. Think of money as a tool you can use to make more money rather than a way to “save money” and you’ll make a lot more. Debt is not bad it’s a tool, that’s why most of the richest people in the world use it as such. Either way 👏 on getting into the game and know you’ll do well regardless.
are you planning on buying with a realtor? tips for finding a good one?
Also looking to buy a house in the pgh area this summer so I'm super excited to follow your home buying journey!💜
awe amazing! yay 😊💗
I agree with home buying in my opinion. Putting as much cash as you can on a house is helpful for the future.
thank you!
Hi Erin can I ask one question please
Thanks Erin! I’m curious where the idea that you have to stay there for 5-7 years comes from and whether you ran any calculations to confirm this makes sense? I assume it has to do with the fees you can’t recover from buying and selling (similar to what you said about the costs of moving apartments every year). Thanks again!
yeah that’s basically what i’ve heard - sunk costs to buy only make sense if you plan on keeping it for 5+ years :) just what i’ve heard i haven’t like calculated anything hahaha
Proud of you bestie ❤
ily ❤
Sink, single income no kids, purchasing a home in today’s market should be celebrated. Also, you’re young and have time, if numbers are on your side in the future, refinancing is also an option in the future to pay off faster.
Too much focus on the mortgage payment. You still have to take into account utilies, water, electric, maintenance, property taxes, etc.
Always add an extra $500 - $1,000 to give a rough estimate on how much you'll actually end up paying.
Way too many people don't do this, end up house poor and wonder where all of their money is going.
i factored property taxes into this payment. utilities (water, electric, etc) i’m already paying as a renter anyway so already factored into budget
have you considered all the tax benefits you will get from owning a house? also, by putting 20% down you avoid ppi payments. Last thought, have you ever considered using the home as a rental property to make passive income ?
That is definitely a good thing to consider down the road. I wish my husband and I would have kept our townhouse for a rental property.
Great video Erin
thank you!
Can I ask one question please
sure!
I’m planing on buying a mobile home next year I live in California so houses are too expensive my question is do u have a savings account specifically for ur home?
Also I just want to say u are very beautiful
Hopefully u will answer
Taxes, insurance, HOA, manetenance are all chasing their cut of your equity. With housing these days 20x income, it's probably not the path to financial independence it was 25 years ago when housing was 4x income. Generation Z women are dumping their houses & going into joint mortgages with their husbands & it sucks when they get divorced. They're still picking men of much higher status & giving it everything they have, just like 1950.
my home budget is NOWHERE near 20x my income… its actually under 4x my income. and please explain to me how i just made a whole video about buying a house on my own and your response is how gen z women buy with their husbands? makes zero sense