From Parisian Dreams to Reality: How I Invested in Real Estate by 30
Growing up in a small Boston suburb, I never imagined that my life would take a dramatic turn at 15, when I embarked on a sophomore year abroad in Toulouse, France. Immersing myself in the French culture and language, I returned home fluent and enamored with the country. Years later, I had the opportunity to study in Paris, where I fell in love with the City of Light’s architecture, pastries, and romantic atmosphere.
A Dream Takes Shape
After graduating with a Master of Science in Media Management, I began my career as a copywriter in New York advertising. Although owning a property in Paris seemed like a distant fantasy, I was determined to make it a reality. I focused on paying off my student debt, which was generously helped by my parents. With a strict savings plan and dedication, I paid off my loan in full by summer 2016, increasing my monthly cash flow significantly.
The Power of Shared Living
When my boyfriend and I moved in together, our combined efforts allowed us to save even more. We shared living expenses, and my entire savings went towards our future goals. Fast forward to May 2019, and we finally closed on a two-bedroom apartment in Puteaux, France, just a 12-minute metro ride from downtown Paris.
Why This Investment Made Sense
This asset appealed to me for several reasons. As someone who prefers tangible investments, property was the right choice. With new builds, owners only pay 2.5% of the purchase price for conveyancing fees and registration taxes, unlike the 7-10% for existing properties. Additionally, the developer paid broker fees, and we secured a 20-year fixed-rate mortgage of 2%. The rental potential was also high, making it an attractive investment opportunity.
The Essential Steps to Investing in Real Estate by 30
- Aggressive Debt Repayment: I prioritized paying off my student debt, which allowed me to increase my monthly cash flow and save more aggressively.
- Living Below My Means: I created a strict budget, allocating my income towards savings, retirement, and essential expenses. I also adopted a frugal lifestyle, utilizing free resources like my building’s gym and pool.
- Side Hustles: To supplement my income, I developed side hustles like freelance writing, copywriting, and reselling clothes online. This allowed me to allocate extra earnings towards non-essential purchases and savings.
By sticking to my principles and adopting a savings-oriented lifestyle, I was able to become a homeowner before 30. It’s a testament to the power of discipline, dedication, and smart financial decisions.
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