Buying a Home at 20

In this day and age it can be difficult for anyone to buy a house; whether it be due to low income meaning less saving or the extortionate cost of rent. I found that in order to buy my first home, I had to make a lot of sacrifices. Nights out with my friends, date nights with my partner, holidays... I gave all this up to get on the property ladder, but why?

Growing up I had two different financial backgrounds: my well to do grandmother and my not so well of Nan. Both of them lived comfortably but there was one main difference. How they lived. My grandmother always lived in the same house, even since my mum was little. My Nan on the other had moved around a lot, town to town, sometimes country to country; never staying anywhere too long. But what difference did it make? Security. If worst came to worst my grandmother had the home as collateral whereas my Nan, she didn’t have anything. I found this is what I was looking for. I decided from the age of 16, when I started to understand more about finances, that renting is a waste of money. You paid this ridiculous amount of money for a place that you don’t even get to keep. I knew that I didn’t want to just be paying someone else mortgage, I wanted to spend this money and end up with something at the end (other than an empty bank account)

I also realised that, growing up, moving from house to house had an impact on me. My parents rented until I was about 12 and, in those years, I had lived in 4 properties. Looking back, I wouldn’t want to go through that again and I certainly don’t want that for my kids in the future. I want to raise a family in a fixed place so every day they know what is happening. I never knew how long I was going to be in a home. I never got to decorate how I wanted when I was young. I was just put in a room and I never got to show my little personality to my living area. Never again. I don’t want that lack of expression for me or my family. I want them to know they can decorate how they want. That freedom is something you don’t get through renting. I know from this that buying was the right option for me. I am expressing myself.

As I moved in less than a week ago I am finding out that I was not prepared to own a home, that I didn’t have the know how to keep myself afloat, but I’m learning. What I have found is that, even though I’m on my own, I feel safe knowing that (as long as I keep up my payments) this place is mine. This place is my security. This place is my house One day, it may even be my home.

I gave up on going to university to have this home. I could have spent 3 years wasting my time on a degree I didn’t want, partying with strangers and stressing overdue dates. I gave up on that because I knew what I wanted. I knew I wanted to own my own place and that is what so many people lack. That drive to work for what they want. I started working at 17 so I could save. I had two jobs at one point. I would spend days at work doing all the overtime I could to make up the deposit and carefully calculated home much I would need to get started. I gave up an experience by not going to uni, and I’m sure there will be more that I miss, but when you can say that you own a home that you worked for at 20, I feel that makes up for it.

My partner and I now have somewhere to live and make our own. If we’re lucky, we may use it as an investment. For now, though, it's mine and I’m proud to say that I own a house at 20.

I had my goal, to start building a life, a home. I am part way to that goal but still have a long way to go.