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Saving for a House Down Payment #1: Single Person, Small City: Financial Freedom, #25
By Joshua King
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About this ebook
Being single and living in a small city puts you in the best position to buy a house. However, you'll have to fight hormones and materialism to do so.
It will take a lot of work to save $30,000 to $50,000. Plus, you'll have to fight the urge to buy a massive house.
Starter homes are still the best investment, and it will be much faster to save for a down payment on a tiny house.
Don't expect to work a single job and magically arrive at $30,000 in your bank account. You'll have to hustle with gigs or content creation to earn your down payment.
It's okay; the harder you work now, the easier you'll have it for the rest of your life. Have a positive mindset and start your grind. Good Luck!
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Saving for a House Down Payment #1 - Joshua King
Table of Contents
MILITARY FAMILY INVESTING | Home of the Free PDF
Saving for a House Down Payment #1
Monthly Dividend Tracker Template: Buy on Etsy
All Right Reserved Military Family Investing | 01 Saving for a House Down Payment #1: Single Person, Small City
02 The Magic of Marriage
03 Real Estate Investing in Your 20s
04 Staying Debt-Free in Your 20s
05 A Shortage of Starter Homes
06 Overcome Financial Adversity
07 Self Storage vs. Mobile Home. vs. RV Park
08 Remote Workers: Beware of a Pay Trap
09 How to Thrive in the Gig Economy
10 The Magic of CD Ladders
Try Something New -Free PDF Download
MILITARY FAMILY INVESTING
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Saving for a House Down Payment #1
Single Person, Small City
01 Saving for a House Down Payment #1: Single Person, Small City
02 The Magic of Marriage
03 Real Estate Investing in Your 20s
04 Staying Debt-Free in Your 20s
05 A Shortage of Starter Homes
06 Overcome Financial Adversity
07 Self Storage vs. Mobile Home. vs. RV Park
08 Remote Workers: Beware of a Pay Trap
09 How to Thrive in the Gig Economy
10 The Magic of CD Ladders
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Monthly Dividend Tracker Template: Buy on Etsy
Disclosure: I am not a financial advisor or money manager, and any knowledge is given as guidance and not direct actionable investment advice. I am an Amazon Affiliate. Please research any investment vehicles that are being considered. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.
All Right Reserved Military Family Investing
01 Saving for a House Down Payment #1: Single Person, Small City
I want to congratulate you on two things: being single and living in a small city. This combination of events puts you in the best position to save for a home.
Welcome to the Saving for a House Down Payments series, where we will formulate a path to homeownership.
Getting serious. As a young single person, becoming serious is the toughest part of life. You’ll have to fight your hormones and materialism to find your true self.
The Beauty of Rental Income
Women figure this out much faster than men, so there is a disconnect between the genders. To help you find your way, please read these articles:
1) Retirement Planning in Your 20s
2) Dividend Investing in Your 20s
3) Real Estate Investing in Your 20s
4) Staying Debt-Free In Your 20s
Survey your area. Now that you have your head screwed on correctly, it’s time to survey your location. I consider a small town as an area with less than 100,000 people. You may have a different definition.
How much does a small house cost? By small, I mean under 1,500 square feet—if you can find a place this size.
One of the problems with living in an affordable area is upgrading the size of your home. You may feel the urge to skip the "starter home" and move to a dream house.
Use Dividends as Your Safety Net
Well, let’s put this idea to rest right now. Trust me; my wife and I started with a bigger dream home in 2008. It was a financial nightmare that took us years to overcome. Start small; plus, starter homes are so much easier to rent.
Determine your number. So how much does a home cost in your small city? Let’s go with $150,000. Remember, this can be a townhome as well.
I don’t recommend a condo only because of the homeowner association fees. If they are reasonable, you can consider the place. However, if you have options, avoid condos.
If your number is $150,000, your proposed down payment will be
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