We live in a world that is increasingly challenging when it comes to owning our own property. However, many people around the world strive to own their land, apartment, or house is a very understandable and important drive. We want security, and part of that security comes with the thought that we no longer have to pay our mortgage or we won’t be evicted at the end of the month by an irate landlord.
Buying Is Always Difficult
There are no two ways about this – buying is definitely the more difficult road to take down on. The risk is significant and the challenges often don’t come down to your ability to hold down a good job. The economy changes quickly and the unthinkable happens.
It is in this state of nearly-constant flux that individuals need to make the decision if they want to settle down and start working toward the desired goal of securing your home. An acceptable housing price is $200,000, no matter where you live. So, assuming you can make $100,000 a year, or even $50,000, you wouldn’t be too far from your goal.
However, as market forces would have it, not everyone can break into $100,000-numbers territory. There is also the fact that for many people, especially those who are currently single, securing a home is not a top priority and it only becomes a sort of a burden later on.
Costs of living in places like the United States and the fact that retirement is unlikely to be available to the majority of people, the inherent challenges to acquiring a home keep piling on. There is more trouble looming as well. You will notice that student debts are a major deterrent when it comes to buying a home. Here are some of the reasons people cite:
- Lack of funds to place a down payment
- Student loan
- Work-related mobility and constant travel expectations
- Dubious economical prospect for the region
This is why many people prefer to rent rather than jump on a mortgage. There are cultural differences as well. Baby boomers in the United States, for example, had little trouble securing a house simply because they got married earlier than Millennials and went on to create families. People today tend to move too often which is another inherent deterrent to buying a home early on.
Can You Buy a Home Early On?
Some people have been able to save up within four years for an apartment, but they are usually high-earners with remote jobs and a little more ascetic lifestyle. Plus, many people who work remotely today save a lot of the general expenses other people have.
It’s nice to move into a new home that you have been able to save up for in just a few years rather than fighting with a mortgage for 10 years or longer. One thing that you will want to do first, though is to change the locks. To do so, you will need to look up a locksmith. Rather than cold calling someone or looking up a phone book, you can simply use locksmiths locator, which will help you contact a specialist in no time at all.
But to go back to the original question – purchasing a property early on is possible. You will be able to snap up a property, provided you don’t want to live in the center of a megalopolis or are too eager to sprawl on a 200 sq mt apartment, for example. There is a very simple way to make sure that you are actually enjoying your own home before you are 30, and this is by investing smartly and picking a property that you really need.
Choose the outskirts instead of central areas and try to secure a house as you will find it much more comfortable, easier to maintain and even warmer in winters. Owning a home is indeed vastly more challenging than at any other point in the past, but the good news is that there are ways to make things work.
Don’t forget that renting is also fine, but you shouldn’t be over-reliant on it, especially if you are advancing in age and you haven’t improved your financial situation much. Keep growing as a person and beat on, as F. Scott Fitzgerald once famously wrote.