I will write much more about my decision to buy a home, and how I was able to do it on my meager income, but for now let me just say that I do not always see homeownership in my future. It’s simply too much work!! I bought a relatively new home in great condition, and shortly after hitting the one year mark of being a homeowner, Murphy’s law kicked in….
… One appliance broke, and another broke a few weeks after the major hassle and expense of fixing the first. Now that both appliances have been resolved, if unsatisfactorily, I find a water leak! Right now my ‘job’ is flexible enough for me to take care of these issues, and my (very handy) parents live close enough to help me out. Later on in my career I will probably be farther away from my family and much MUCH more busy (think not-sleeping-for-36-hours kinda busy) than I am now. At that point in time I do not think I will have the time or energy to spend on home repairs…which I have now learned will inevitably happen when you least want them. Being a renter will give me peace of mind I will need at that future point in my career.
I think it’s funny how the general population here in America seems to believe that home-ownership is one of the pinnacles of financial success. It does not always make financial OR personal sense to own a home. People may think that I will be taking a step backwards in my financial journey when I sell my home and rent an apartment, but I will know that when I get to that point in my life I will have made the right decision.