I’m 26 years old and own a 2-bed, 1-bath condo in a high-cost-of-living area. My total monthly housing payment, including taxes, insurance, HOA fees, and utilities, is around $2,700. This is with a 7.2% interest rate, so I’m hoping to refinance soon.
I earn $115k annually (including bonuses) and have no debt, dependents, or healthcare expenses (free healthcare). I also have no restrictions on renting out the second bedroom if needed.
Financial breakdown:
$20k in savings
$100k in retirement accounts
$1,500 monthly invested for retirement
$400 monthly saved in cash after all expenses
I maintain a comfortable social lifestyle—nothing lavish, no extravagant vacations. For context, renting a 1-bed in my area costs $2,000+ per month for a decent unit, while a comparable 2-bed would be $2,500–$3,000 per month.
Edit for clarity: The $287k is the remaining balance after a sizable down payment.
I bought my first home at 29 during the COVID dip in 2020. No money down, 2.9% interest on a 30-year fixed mortgage, $80k income, and a $385k house. If I could do it, you can too!
Just be ready to fix things yourself, get a home warranty, and remember that YouTube is your best friend for DIY repairs when money’s tight.
