She Strengthens

My Journey to Home Ownership: Lessons Learned

As a young adult, I’m often asked about my decision to buy a property at the age of 21. It’s not a common feat, and many assume it was handed to me on a silver platter. But the truth is, it took sacrifices, hard work, and determination. If you’re considering entering the property market, here’s my story, and the lessons I’ve learned along the way.

The Rewards of Property Ownership

Buying a property was one of the best decisions I’ve made. It’s not without its stresses, but the sense of accomplishment and security it brings is unparalleled. Coming home to my own space after a long day is incredibly fulfilling. I also appreciate the independence that comes with not having to rely on others to pay the bills.

If I Could Do It Again…

There are a few things I would do differently if I had the chance. Firstly, I would still choose to buy a property, but I would opt for a smaller, more affordable option. This would allow me to maintain my independence and avoid relying on others to service my loan.

Secondly, I would use a mortgage broker who charges an upfront fee. While traditional brokers may not charge a fee, their advice may be influenced by kickbacks from banks.

Thirdly, I would still choose to fix my home loan for a set period. This provided me with stability and allowed me to budget accordingly.

Lastly, I’m happy with my decision to buy in a developing suburb. The lower entry price and potential for growth make it a wise investment.

What I Would Avoid

If I could do it again, there are a few things I would avoid. Firstly, I would wait until I had saved the full 20% deposit to avoid mortgage insurance.

Secondly, I would delay house hunting until I had completed my degree and had more time to focus on the process.

Lastly, I would be more selective about whose advice I take. It’s essential to seek guidance from people who have achieved success in their own right.

Final Thoughts

If you’re considering entering the property market, I hope my story has provided some valuable insights. Remember to be practical, forward-thinking, and selective about whose advice you take. And if you have any questions or would like to chat, feel free to reach out to me on social media or via email.