Almost everyone dreams of purchasing a house of their own. However, there are always downsides and upsides to it. And, home buying isn’t for everyone. When you are in your 20s, are young and confused, and haven’t quite got your life together, then maybe you should really think hard about whether buying a house at this point in your life is the best decision. If you’re uncertain where your life is headed because you have a lot of plans and not all of them are aligned to one path, then maybe you should think twice about home buying.
If you still have to or plan to go back to school, don’t buy a house just yet. Unless you’re certain that you can afford a monthly mortgage payment and you have enough resources to maintain the property, or you’re sure that you’ll be staying in that house for years, you might not want to buy one. You can always opt to rent first while you’re in this uncertain phase.
Buying a house isn’t as easy as 1, 2, 3. For young adults, it’s always okay to wait until you’re financially able to purchase a house of your own. Don’t feel rushed by society’s timeline. You are not obliged to buy a property of this type or that price or in this location. You have the freedom to choose the house you want in the neighborhood you feel comfortable in. Don’t get fooled by society’s present standards. So, wait until you’re ready to buy a house.
Even though you’re in your 20s, you will soon grow older and may have a family of your own. It’s hard to know what size of home will fit your needs. This may grow and change over time – soon you may have a significant other, have kids and even have some pets. The size of home you need may change, so it might be too early to decide what to buy right now.
Don’t buy just yet if you are the type of person who likes moving from one place to another. Take time enjoying this phase of your life. When you’re done wandering is when you can settle in a place where you’ll always feel convenient, comfortable and content.
Moreover, some young adults don’t consider buying a house because they don’t want to get caught up in the responsibility of owning one. They have other priorities, like traveling, seeing the rest of the world, saving for a car, enjoying a new hobby, and such. Home owning does not end when you’ve finally signed papers, moved in and the house is officially yours. You have to take care of a lot of things in order to maintain a property. That includes the maintenance and monthly utility payments. Sometimes these fees will drain you financially and get you really stressed out. Thus, if you think you’re not ready yet, buying a house should not be your main goal.