Becoming a Homeowner at 25

Becoming a Homeowner at 25 - Chic and Domestic
Becoming a Homeowner at 25 – Chic and Domestic

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I’m so excited to finally get around to writing this post! If you’ve been with me so far on this journey then you know that we were finally able to close on our house, just in time for Christmas.
It’s been an amazing but scary feeling to become a homeowner, but it feels great to know that we set out to achieve such a large goal, and now we can say that it’s something we can officially cross off of our list.

I always knew that I wanted to become a homeowner. More importantly, I knew that I wanted to become a homeowner sooner rather than later. After crunching the numbers and seeing just how much we were spending on rent in a year’s time, it just made more sense for us to do what we needed to do to purchase our own piece real estate. I really wanted to go from just having a place we called home, to actual home buying.

CHECK OUT “7 SIMPLE STEPS TO PURCHASE YOUR FAMILY HOME” HERE!

For me personally, I have goals to own multiple rental properties in the future, so purchasing our cozy little townhome was not only a great move for our family, but also for my future plans to turn it into an asset.

We collectively worked on our credit, because obviously credit is key if you plan to have a mortgage on your home. I have to be honest, it wasn’t like our starting point for our credit was in bad shape, but it still took some time to really get it to where we wanted it to be. In fact, my husband was basically starting at zero. Not a literal zero credit score, but he was essentially starting from the bottom with no current credit history.

It took about a year to establish a positive credit history for him, which wasn’t too hard with the help of things like secured credit cards, and self lender. His credit was around 730 by the time we finally had it pulled for our mortgage loan, which was great considering his starting point was roughly 550 with no credit history.

CHECK OUT “HOW TO BUILD AND BOOST YOUR CREDIT” HERE!

We also started to put aside a savings that was specifically for buying our home. There are a lot of expected and unexpected expenses that come with purchasing a home. A lot. You won’t always have exact number goals to save for with these expenses since a lot of things are based on the cost of your actual purchase, your location, what companies you’re using, and how your deal is negotiated. We started by saving a $1000 emergency fund, and growing a separate savings from there for purchasing our home.

CHECK OUT “HOW TO SAVE A $1000 EMERGENCY FUND” HERE!

Be on the lookout for more posts on what to look for during the process of home buying. Subscribe!

This entire dream meant everything to us. Neither of us have family around us that actually own their own home. No parents, no grandparents, none of our family members are homeowners. We really wanted to buy a house for our kids before the year was over. That was the end goal. I can’t even begin to explain the overwhelming feeling of finally bringing them home and showing them around their new rooms and really seeing the excitement on their faces.

I know that many of my subscribers (Hopefully that includes you) are interested in one day achieving this goal for their own families, and I really want to continue to share my knowledge and experience so that no matter how young you are, or what obstacles you think are in your way, you too can purchase your family home, and really build the life that you dream of.

Be sure to subscribe for more of the “From Home to Home Buying” series! Don’t miss out on more keys to becoming a homeowner, and how to achieve financial success once you get there.

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3 Keys to Master Your Family Finances

3 Keys to Master Your Family Finances - Chic and Domestic
3 Keys to Master Your Family Finances – Chic and Domestic
3 Keys to Master Your Family Finances - Chic and Domestic
3 Keys to Master Your Family Finances – Chic and Domestic

We all want to be able to stay on top of our family finances, correct? There is no better feeling than being ahead of your finances, and successfully placing your money where it needs to go every month. I get a lot of questions about what to do when you need to get control of your finances, or even if you’re starting at the beginning and looking to tackle your family finances head on. First things first, everything will always be trial and error, and everything will always have room for adjustments. Lucky for you, if you start with these 3 keys to success, you’ll always find success!

Prioritize

This will always be the most important step in mastering your personal finances for your personal situation. No person or family will be the same, but a general key to success is to really plan and decide what is most important to you. Some families will have to focus more on sustainability and simply making sure that their financial input is enough to cover their financial output if they’re dealing with a tighter budget, other families will prioritize things like savings for the future, family outings, travel, or a little bit of everything. As long as you can pin point your family priorities this will set you up to make logical decisions about your money.

Save

Saving is a must! There are no if ands or buts about it. If you want to put your family in good financial standing, be sure to always make it a point to pay yourself first. Even with a smaller income, single income, or being a family that lives paycheck to paycheck, there is always room to save something on payday. I had to learn this over time. I had to personally change my mindset when my family budget was tighter. Just because my bills were being paid, didn’t exempt me from being hit with an unexpected emergency, so really having at least some sort of emergency fund or sinking fund was a necessity.

Find out how we saved our $1000 emergency fund here!

Budget

Learn how to BUDGET. Never be afraid to approach and re-approach your budget. If you want to be able to master your finances for your family, my biggest advice would be to always know your numbers. Budgets are something that will always change, but once you learn how to set up a budget once, going back in to make adjustments will come easy. In order to master your money, learn how to create a budget! Know what numbers you’re bringing in every month, know what your various monthly expenses are, and know your priorities.

Learn tips on how to create your own family budget here!

Be sure you’re following me on Pinterest to check out all sort of great pins on Financial Fitness, Frugal Living, and Domestic Life on a budget.

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