Any other women in their early twenties feel this way?

Question

Ive been shopping for a home for about a year now. I want to own a house. I live alone now, but I rent, and thats such a waste of money. I rented the house 5 years ago when prices were good so now it seems Im paying NOTHING compared to everyone else. I just want to know how people do it? Any other young women feel like they are dreaming the impossible? I dont see how I will EVER be able to afford a home and insurance and utilities and all that without having 3 jobs and no life. How do people do it? There is no way. Ive done the calculations and by the time I deduct my car insurance and my estimated utility bills, that leaves me like 400 bucks for a mortgage and insurance. Not gonna happen with todays prices. Not to mention that leaves me nothing to put in savings monthly so if my car breaks down or I get sick, Im screwed. Ugh, its so depressing. Please tell me Im not the only one that feels this way.

Answer 1

YEAH I FEEL YA GURL I'M 24 AND FEEL THE SAME DAMN WAY

Answer 2

It is tough. I am 26 and just now moving out and buying my first home with my boyfriend.

While you are still renting, save all the money you can. This will help when the time is right for you to buy a home. Depending on what you are paying in rent now, you could very possibly buy a home for the same monthly payment. If not a house, you might be able to find a condo or town home. If you are serious about buying soon (and it is totally worth it), speak with a loan officer now. They can help to guide you and get your credit in order so that when the time does come, you will be able to receive the best interest rate and loan program available. You might not be able to afford your dream home now, but you will be able to find a home to live in. Even better is if you can find a "fixer upper" that doesn't need a lot of work. That way you can live there for a few years and do small repairs over time. When it comes time to sell, you might be able to pocket some extra cash.

I am more than happy to help. Visit my website, www.MortgagePlusUSA.com or www.RealtyPlusUSA.com for more information.

Answer 3

Believe me, you aren't the only one who feels that way. I am 23 and I still live with my parents, so I don't have to pay rent. I want to move out so bad, but I don't feel I can afford a mortgage. I agree with you, renting is like dropping your money into a black hole. So, I am not really open to renting a place when I can live at home for free.

Why don't you try to get a roommate and split your rent and utilities 50/50? Then you can save up a little money to make a downpayment for a house. You can let your roommate move in with you, considering they pay you rent. Now you are making money from them to pay off at least part of your monthly mortgage.

Another thing you can try and do is cut your own costs. Try to go with a cheaper insurance company, try to cut your utilities down each month, buy cheaper food and try to cut out some of the expensive frills in your life. If you can carpool to work, try to do so to save gas money.

I am in the same boat as you. I am at a point in my life where I feel I need to move out, but I am afraid of not being able to save any money because everything is going into living expenses. You are doing the right thing as far as planning ahead. Yet, when I look at the families who have 5 kids and one working parent making $8 an hour and they still manage to get by, it reassures me that I am going to be able to do it when I don't have a family to support. So, keep your head up, save a little money, make a plan and just make that jump. Nobody said it would be easy, but I am sure you can do it.

Answer 4

i know owning your own home is a good thing but look at it this way if you continue to rent till say you get married or at least engaged you dont have to fix any major problems that go along with owning the home. if your heater breaks you call the landlord if your water heater doesn't heat anymore you call the landlord and so on so i think if you look at like insurance for your future. start putting money away every month now and in say 2 years (since your young!) you could have the down payment and closing cost. do feel down things change all the time and you gotta roll with the punches. it does get better. good luck and have a great holiday=)

Answer 5

I am 25 and I just bought my first home last year. I also live alone. I hate to tell you, but it is really tight!! I do work a part-time job just to make end meet. I keep telling myself that all of this hard work will pay off someday. I am making an investment as opposed to throwing my money at some landlord. See if you can budget anything else. With my home and car and other expenses, I have had to cut back severely on "personal" spending. (clothes, eating out, etc.) It can be done!! Keep your head up!! Best wishes.

Answer 6

Im in the same situation as you exept a have a 2 year old as well so add all the things she needs to my monthly bills. Its impossible. I mean there is two of us but we cant work 2 jobs at the same time because we cant afford daycare either. we are stuck in a muddy hole and everytime we think we are on our way out we slide back in. Its pathetic the way the world works sometimes.

Answer 7

No, you're not the only one that feels this way. I bought my own place in April but have to work two jobs to pay the mortgage and the bills - and I'm left with virtually nothing when I've paid everything out. It's worth it though so I really would suggest getting a second job if you're serious about it.

Good luck.

Answer 8

Please be sure to check and see if there are any programs in your area for first time home buyers. My daughter got a lower interest rate for being a first time home buyer. in our state (Michigan). Yes it is very tough. She has a roommate and that helps a lot. Try to save money in the meantime and keep looking until you find something you like and can afford.

Answer 9

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Answer 10

i sooo understand you!! am 21 and have a 18mo old my husband is 22.. and we are trying to get a house but we have day care 2 cars all the baby things to buy... and its just not our time to get a house they say!! but we Will it be if the prices keep going up!!! and then ppl want to sell their old houses to get a new one but they wanna sell it like if its a new house!!! GOSH!!

Answer 11

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