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I am 27 and I just bought myself a new house. Here is my story

I am 27 and I just bought myself a new house. Here is my story.


Stuck in between childhood dreams and student loans, here are a few secrets to buy a new home below the age of 30. I am Archana, I am 27 years old and I bought my first house 3 months ago. I understand that you are making one of the biggest financial decisions of your life. All you want is a place of your own, but beyond that, your future can feel like a total mystery and it is okay to feel so.


Where to start - Golden Rule: Save, save, save The money-saving plan is simple: work hard, save a lot, and choose to spend wisely.


Budget is everything


Homeownership is a big investment and a lifestyle change so it is crucial to make sure you are financially prepared and have done your homework.


It requires a lot of budgeting. You have to know where every penny goes. Scrutinize your finances carefully and evaluate whether buying a home is comfortable.


Review your credit record, clean up any mistakes, and pay off debt.


There used to be times I wanted to buy some additional make-up from MAC- I would consciously shop from a more affordable brand instead. Small compromises go a long way.


When work demands more hours in your day and earns you extra money, have an open mind to consider it.


Be sure to consider all the recurring expenses associated with homeownership beyond the purchase price and loan closing costs. Take into account maintenance and insurance when setting a budget. From property taxes to utilities, the bills add up.


Top points - How did I decide to buy a property?


1. I made savings my priority.
2. I live with my parents and that helps me save. My base expenses of food and shelter are covered.
3. Pooled in my money after 5 years of savings and paid my initial deposit.
4. I saved up to 10% deposit amount every year.
5. I chose ready to move-in houses. This slashed my EMIs by more than 60%.

How did I do it?


I became conscious of my expenses when I decided to buy a house. I decided not to spend money elsewhere when I didn't need to. Well, I still took off on a holiday with my friends to Bali. I made smart choices.


How does it feel to be a home owner?


It was weird at first. When I got the keys it was surreal. Especially when things started to come together - it feels like a remarkable achievement. Everything I had chosen not to do, e.g. as simple as skipping one movie at the theatre and instead watching it on TV later, helped towards it.


Is it doable?


Yes, with an established a career path and goal-oriented mind set this is easily achievable. It takes years to save a deposit, and then prices go up and people give up. I strongly believe below 30 is the best time to buy a first home.


I am 27 and I just bought myself a new house. Here is my story

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