The best question is how to earn money as a young person…
If you want to buy a house at 19, you must start your online business as a high school boy or girl. At age 18, you can open your LLC business in the advertising, gaming, or YouTube industry – where teenagers are usually the best.
Yes, I am 45 now, and I bought my first ever house when I was 20 years old. Today I will be sharing how I bought my house and why I buy this? I will also tell you, people, that it is not a crime to buy a home at such a young age, and not an impossible thing. If you are willing to do something, you can do it eventually. If you hesitate or confuse your dreams, your energy will not support you to achieve them. This is what happened to me.
I was desperate to have my own space since I was only 13. Of course, at that age, I did not have the idea to buy my own space, even to buy a whole house, but there was something in me that encouraged me, and maybe that is why I was never afraid of taking this huge step.
Luckily, soon after graduating from college, I was in my 19s. I started a job, not a job, but a job. I was eager to work more and more to earn more and more. I was enthusiastic and sure that you are more energetic and capable of taking risks. But not everything comes so smoothly and becomes yours. You must pay some amount and make some sacrifices to get your dream.
I took this very lightly, but it was damn too challenging to turn this dream into a reality and live in your own house. Since I decided to save a good amount and buy my own house. Everyone around me, like my family and friends, even coworkers, discouraged me. Saying that it is insane to buy a home at this age like you cannot take care of it, will be hard on you, so don’t waste money and time on this. It would be best if you got married and had your own house.
Like blah blah….. There was one to encourage me. Indeed, it was a big step, but I was devoted to buying one. So, there are different methods for buying a house in each country. I recommend discussing it with your legal advisor first in your country.
Profits or benefits of buying your own house
I think there are only profits in buying your own house. I recommend to all young students that if they want to have their own house and are even willing to buy it, they don’t hesitate and don’t listen to anyone who stops them.
There is nothing wrong with buying your own house. You can stay with your parents in your own home and rent out the one your parents lived in, or you can live in your own house and invite your parents to spend the vacations with you occasionally.
Your life will be completely private, and you will be safer when you have your own house. At least you have the space to live in and earn and make money for food and education. That won’t be a big deal.
Once you know how to deal with house purchasing and living-in matters, you will quickly deal with other house-related issues because it is about responsibility.
Now, you know the profits when you have your own house. Even in an emergency, you can sell your home to gain money and go to live with your parents.
Losses and sacrifices
To achieve something bigger, you need to make some sacrifices. I was in a situation that totally broke when I invested my whole savings and earning, and my money got stuck, or you can say it was delayed. Well, I was not mentally prepared for it and was not expecting this, either. Everyone was against this decision, so I naturally did not want to go to them and ask for help.
After a week, my payment was transferred automatically, and in a day or two, I got the profit from where I had invested my money. So, during that time period, I was mentally upset and totally broke with no hope left, and you can say that I became helpless.
Fortunately, that duration lasted a few days, but I learned to have some backup money or a backup plan before buying a house. Indeed, it would help if you had a lot of money to buy a home. But it does not mean ome, you would have nothing to eat for a whole after purchasing a home week.
Perfect timing and backup plan
So, all it needs is the perfect timing and chance to take. If you have decided to buy your own house, try to note down all the possible actions you can take and plan things out. Then,, work acording to the plan; of course, there are some exceptions too, but more or less, you will have a backup plan to cover things.
Learn how to manage things..
Ma.ging things is different for different people. How I manage is quite like this. After my decision, I wanted to earn as fast as possible to buy real soon. There is a tip for you never to rush to buy a house. Like take some time and see multiple options ask around for the details, and so. Then, make the final say. It is a one-time decision for at least a whole year and if you are young like I was when I bought my house. Then it will be tough to change the house the next day.
I did the same, and now I am still in that house I bought in my 19s, and now I am living with my kids in this beautiful house that I am in love with.
Good luck!
After leaving Wells Fargo Bank in 2014, Daniel began a career as a finance consultant, advising companies and individuals on economic policy, labor relations, and financial management.
At Promtfinance.com, Daniel writes about personal finance topics, value estimation, budgeting strategies, retirement planning, and portfolio diversification.
Read more on Daniel Smith's biography page.
Contact Daniel: daniel@promtfinance.com