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OWNING A HOME AT A YOUNG AGE
No more than ever before, people in their twenties are looking into buying homes. As credit
payments have increasingly been the sphere of younger people, questions have arisen over the
real benefits of owning a home at a young age. Surely, owning real estate at a young age is not
for everyone and there are some things to bear in mind when considering the prospect.
Certainly, one of the key benefits of being a young person is sacrificed when committing to a
mortgage, an element of freedom. When a credit payment is due every month that can weigh a
great deal on a decision to plant roots at any age. Add to that an uncertainty in income as a
result of being fairly new to the work scenario and it can be easy to see why up until recently,
the idea of buying a home was alien to most people in their twenties.
Because of the tendency of young people to change jobs and locations, planting those roots can
be difficult. For benefits to be seen, payments have to be made for a lengthy period of time on a
mortgage. As many initial payments go towards the loan interest rather than the actual loan
amount, they do little to build an asset. This piece of information can sometimes be missed by
young people that simply want to own a home but aren't sure how to go about doing it or just
what it takes. Giving up freedom is a heavy price to be paid and the benefits are not immediate.
An additional burden that some young people are accumulating is early investment desires and
the attractiveness of pulling a rental payment on a leased property. Becoming a property-owner
is no small decision and the burden of having to deal with tenants and the upkeep that rental
properties demand can be quite overwhelming.

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Ultimately, if you are a young person and have considered the prospect of getting involved in
real estate investment, considerable discussion has to take place with you over your life goals
and the feasibility to accomplish those goals. There are people out there who land their dream
job early in life; perhaps they can be sure that they intend to stay in a certain location for a very
long time. For those people, a mortgage makes sense and building up early equity can certainly
pay off later.
For those would love the ability and flexibility to be able to take that new job opportunity at a
short notice, perhaps early home possession is not the way to go. The struggle between freedom
and future fortune can seem like a difficult one, but by assessing your personal goals, you can
make an informed decision.