Life After the Keys
From compromises to celebrations, here’s what we learned as first-gen homeowners—and how you can thrive after the purchase.
My spouse and I always had a goal to have our own little piece of space in this land, both coming from very financially low backgrounds. I started looking on Zillow and Redfin very early on and quickly realized how nearly impossible it was for us to live in our dream home. I wove in and out of this dream, hope dwindling every time I checked my bookmarked houses only to see them sold or their prices increased.
It was heartbreaking, and the process took more than five years. Then COVID hit. Many people were able to purchase their homes during that time with interest rates so low it feels like it will take forever to see those rates again. Meanwhile, we got a dog and were tied to a lease that kept us fixed in our location for another year. Thankfully, I loved that part of our life—living in a new, nicer apartment with my spouse and our dog felt like a dream in its own way.
Life slowly started returning to normal, but my spouse was forced to go back into the office sooner than others allowed. Suddenly, I found myself spending long hours alone, raising and training a puppy while working a full-time job. This quick shift from spending all our time together to seeing each other for only 4–5 waking hours a day took a toll on my mental health. We decided to move to another apartment, this time closer to my spouse's job, which was a big improvement for both of us.
As we saved more, the fire for homeownership rekindled. However, by then, we were in one of the toughest times for the real estate market. Interest rates had shot up, and when we finally bought our home during the summer, it felt rushed. It wasn’t everything we’d dreamed of, but it gave us the space and stability we craved.
This journey taught me so many lessons I want to share with anyone tempted to embark on this path:
Location Is Everything: My agent gave me this advice, and it holds true. You can renovate kitchens, repaint walls, or refresh furniture, but you can’t change your home’s location. Make this your top priority—it’s a choice that impacts your everyday life.
Prepare for Hidden Costs: Homeownership comes with a slew of expenses no one talks about—property taxes, maintenance, unexpected repairs, and even HOA fees. Having a financial cushion for these will save you from stress down the road.
Compromise Wisely: While it’s important to dream big, be realistic about what you can afford and what you truly need. Compromising on certain features (like size or finishes) might be hard at first, but it can lead to a home that still meets your deeper needs.
Timing Isn’t Everything: No matter how much you plan, the market might not align with your goals. Instead of waiting for the perfect time, focus on preparing as best as you can—financially, mentally, and emotionally. Flexibility and readiness will make you more resilient.
Celebrate the Milestones: Even if your first home isn’t your dream home, celebrate it for what it represents—your hard work, persistence, and a step closer to your ultimate vision.
Our generation, especially those of us who come from humble beginnings, often feels like the cards are stacked against us. But we are resilient and determined, and we will get what we want. When I think about the journey we’ve taken—from checking Redfin obsessively to walking through the door of our own home—I feel an immense sense of pride.
And yes, taxes! Understanding property taxes and how they’ll factor into your monthly payments is critical. It’s one of those details that might not seem urgent at first but will affect your budget significantly.
Ultimately, homeownership is a journey filled with challenges and rewards. It’s not just about the house itself but about creating a space where your life unfolds—a place to grow, dream, and build your future.
This article is the final entry to my Homeownership Series on First Gen Finances!
Thank you for tuning in—I much appreciate your support. Good luck in finding your perfect home!