Career & Finance: Home Ownership

Why do you want to do this?

I want to stop throwing money away in rent every month. I also want to have a work space in my home so I can stop paying for a storage unit. I want to be able to have the freedom to create my own environment and make my living space reflect my personality. More space would allow me to consolidate my belongings and be in control of my resources and finances.

What three things will you need to make this happen?

Save enough for a 20% down payment to avoid mortgage insurance.

Hold the same job for two years or more to improve credit score.

Build an emergency fund in case of surprise expenses.

What is the biggest barrier to your achieving this?

Lack of credit and cushion funds to cover closing costs, fees, and repair/maintenance.