As you may or may not know my husband, Jon, and I this past year built our very first home with Oakwood Homes. We love to take adventures together. (seems about right considering the fact that we got married when we were 19) In July, we moved into our brand new home and have experienced so many things since we moved.
Here is our “Pro’s and Con’s” list to buying our home young.
Pro’s
We have way more space. In our one bed/one bath apartment we could not host any of my family from out of town. We also now have room for friends to crash with us if they need to. I like being that friend. It felt wasteful to pay so much more in rent for the other rooms we would barely be using.
We can decorate and change things without the regret of feeling like the place isn’t ours. Jon is super handy and I feel like paired with my creativity we have gotten to do so many amazing projects in our own home.
We are starting to invest our money versus giving it away. We put money down on our home before even seeing the models. Prices have gone up, but ours stayed the same. We already have gained tons of equity on our home. So even if we rented it out or sold it, it would benefit us financially in the future.
We have more privacy. We live in a super friendly community in a duplex. We don't feel like we are sharing paper thin walls with the neighbors around us any more. In our apartment we always felt like we were scared of bothering the neighbors with our sounds.
It is in a neighborhood! Most apartment complexes have amenities, but it doesn’t beat the open spaces and parks and sidewalks we have to explore while including all of the same and even better amenities.
Not a big difference in utilities bill. We haven't noticed a big difference in how much we paid in our utilities billing even though our space has doubled. It is just Jon and I in the home, but that is a perk to buying young before you have kids! It is not a huge cost difference. Oakwood has great energy efficient homes.
Con’s
We don't have a handyman "on-call". Our things are our responsibility within a certain range. We have warranties, but if the garbage disposal is clogged.. It’s our job to fix it.
Landscaping. We don’t actually have this issue because we don't really have a full yard, and our H.O.A fee covers the cost of our landscaping. They do it for us. However, I imagine landscaping costs being a con to owning a home for the first time.
Can’t control your surroundings. This goes for anywhere you live but at least in an apartment people would come and go and things were constantly changing. Buying a home is more long term. Your neighbors are your neighbors. That’s why it's so good to make good relationships and respect each other. For us right now construction is a big factor that is bothersome. It is just about making the most of your surroundings no matter where you live.
The process can be daunting. The process of buying a home for the first time is intense. Luckily Jon figured everything out with the help of parents and friends. It can be long and time consuming to get all of your finances together but worth the investment - for SURE.
Overall Jon and I are very happy with our decision to buy young in this crazy Colorado market. We love making memories in our home and can't wait to feel all the cozy home vibes throughout the holidays. Let us know if you have any questions about our process.
Until next time- Sophia Marie