13 20-Year-Olds Share Their Homebuying Journeys

Many manage homeownership before 30. How? A web user asked, "How do people in their 20s and 30s own homes despite claims of difficulty? Higher income, parent loans, government programs?" Check out top responses below.

Living At Half Our Income

"Had a full-time job, wife ran a business. Together we made $80k, lived off $40k. Bought a $310k house, 5% down. Closing cost was $30k, saved up in 2 years post-marriage."

Years Of Savings

“Years of savings (around $60,000), two incomes equal to around 90K a year. Barely getting by for a 2 bedroom house, but we did it.”

‘First Time Homebuyers’ program

Bought my first house at 21 in 2015 via a 'first-time homeowners' program, only put down $800 on a 120k house and sold it for 250k. Would've been hard without the program.

A Profitable Business

“I’m 24 and getting ready to buy my first home. I started a Handyman business with almost no experience less than a year ago. I’m set to make $17,000 this week.”

Remote Work

Work online, much easier to scale within a shorter time span.”

Rich Grandparents

“Rich grandparents. I truly don’t know how other people do it. I’m in my 40’s now but I got a house in my 20’s.”

Perfect Timing

“I’m 39. We bought it in 2013. Almost the perfect time. Refinanced and dropped PMI right before interest rates got raised. $790 mortgage payment.”

Got A VA Loan

"I was 28 in 2014, bought my first house with a VA loan during military service. The military allowance covered payments. After 10 years, I am now working to sell the old house and buy a new one."

Lived Extremely Frugally

"Bought a $380k home at 28, with minimal family help & modest income. Saved by living frugally, using CA first home buyer program & renting rooms. Instead of a fancy locale, chose a 1950's home in a cheaper part of town."

Took Out Money From My 401k

"I used my 401k to buy a new townhouse, covering the 5% deposit with half of it. No car loan, student loan, or credit card debt keeps my income on par with the median."

Invested In Shares

"Invested in shares for years and used profits for my deposit. Savings accounts waste money. A 180k salary also helps, but I didn't always earn that."

Took An FHA Loan

"Bought my first home at 25 with an FHA loan requiring only 5% down payment. Make sure you can afford the mortgage. My rent was more than the mortgage, so I could cover the costs."

Hefty Inheritance From MIL

"My mother-in-law's passing left us a significant inheritance. Though we're grateful for the financial aid, it's unfortunate it took such loss to afford a home."

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