3 Things I Wish I'd Known Before I Bought My First House

Woman with moving boxes and dog


Charlitta Crowder Hatch
Charlitta Crowder Hatch51
As a young, fresh college graduate, I was a box-checker (Well, I am still a box checker, but I have come to understand that some boxes I just cannot check). I moved home with my parents so that I could save money and check the next box to purchase a home
As I reflect on that time period, here are the top 3 things that I wish that I would have known:

1. Ask your parents to let you pay them your budget for mortgage and utilities so they can save it away for you. 

This will allow you to start saving for your down payment, furniture, and other expenses while ensuring that you know how to live without this portion of your paycheck. Plus, cheating isn't possible — you won't be able to grab that money out of your savings. 

2. Get a 15-year mortgage.

I could kick myself for not doing this. I would be almost done paying off my first home if I had done this, and it would truly be an asset. Make the sacrifice, and it will pay off.

3. Think about your purchase as an investment versus a temporary transaction. 

Your first home could turn into a rental property that you keep as an asset as you continue to evolve. This makes the location and the structure of your home important. Buy with the end in mind.
Buying your first home is a huge checkmark on the list of boxes to check. Planning and being thoughtful about how you check that box is what will set you up for long-term success for years to come.

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Chatty (Charlitta) from Charlotte is a Type A, expressive-driving Gemini that loves her husband and son. She is on a mission to make the world a better place. She is a Principal Consultant with Slalom, the author of Black Boy Joyand Chief Mom Officer of the Me3 Project