Why I Don’t Regret Buying My First House At 23 | Millennial Money Talks

Don’t forget to watch the video before this on why I regret buying a house at 23!

Hopefully my first video didn’t come off too negatively. I wanted to make you aware of mistakes I made when buying my first house so that you can avoid those mistakes in the future.

Some reasons I’m very glad I bought my first house:
1. Soooo much cheaper than renting. I’m saving at least $300 per month/$3600 per year on my house vs renting a smaller apartment. If I got an apartment the equivalent size of my house it would likely be closer to $500 a month!

2. I’m building equity and not throwing away money on my rent. I expect at minimum to walk away with $20,000 when I sell this house if not much more. A very comparable house in my neighborhood just sold for $225,000 and I purchased my house at $148,000. I might easily get $50,000 just in appreciation on my house when I sell.

3. I LOVE the location my house it’s in. It’s such a nice area just to go for walks and be outside. It’s safe and quiet too which is much more than I could say for my last apartment where I had to hear the construction of an IKEA....

4. It’s the first place I’ve lived in since moving out of my parent’s house that has really felt like home and felt like a place I can be proud of. Becoming a homeowner is definitely something I have become very proud of.

There are pros and cons of both buying and renting. Be sure to compare the numbers and not just let your emotions get the best of you. It is certainly a financial and emotional decision.

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