You are in your 20’s, and you probably think the time is right to move out of your parents’ house. The reasons for opting to get a house of your own are many, and most of them depend on your life plans. You want to live an independent life, but you are scared because of the high property prices. Buying a house in your twenties is no easy task, and you will need to have a strong and willful heart to be able to push through with your resolve to buy a house. Here are some reasons;

1. The Need to Be Independent

It is perhaps good to look at other than the financial implications when considering to buy a house. One of the most compelling reasons why many youths are motivated to buy a house is the desire to be independent. And buying a house in your 20’s will give you just that. 

2. A Chance to Finally Put your Taste to some Good Use

While there is little denying that the young generation masterminds and provides the workforce for major developments, owning your own home gives you an opportunity to put your imagination to the test.
With your own home, you can choose where you want it located, how much it should cost and how small or big it should be.

3. Settling Down 

If you are planning to settle down with a spouse, there is no better place than doing it in your own home. Many young people in their 20’s consider owning a house to be a major indicator of the readiness and willingness to settle down.

“People who buy a house in their 20’s, whether it is intended for their personal use or whether they plan to let it, have been found to be great investors in the long run. This is because they have a settled mind and a young experience when it comes to how the property market develops,” says Euchar from

4. An Opportunity to Save: Cost of Owning vs Cost of Renting

A simple example can be illustrated as follows;
You are 26 years old and settle for a house going at $ 250,000 with a down paltry of 10%. This means your loan amount is $ 225,000 and until you own a 20% equity, you will be incurring a private mortgage insurance of 0.5%. By current standards, the worst interest rate deal is 6%, and for as long as you own the property, you are expected to pay a 2% tax on the value of your property. Factor in a 1%, house maintenance cost and you will end up with a cumulative $ 923,000 to contend with. Sounds scary I know, especially for a young buyer. But wait till you see the rental expenses for the same period and you will agree that this is the best option.
The low average deal for someone looking for a house to rent would be that with a low monthly rent of $ 1,766. Estimating the total rent over the duration of your lifetime (with reasonable assumptions), you will spend $ 200,000 more. Yes, a whopping $ 200,000 in excess which only you and God knows what it could have been invested into. And if you come to think of it, that is almost the price for another house. But you may not enjoy the same advantage if you are buying a house in your 60’s.

5. To Cater for Long Term Family Goals.

Whether you are buying a house to let or to live in, there are many family goals to be achieved by doing so at a young age. You want to create a legacy for your future family, so you start looking at investment portfolios with a high appreciation value and low inflation rate. Only one thing fits the criteria; the housing industry. 

Alternatively, you want to settle down and plan for your family and its comfortable permanent residence. You weigh between perpetual renting and one-time house purchase, and the winner is? Buying a house

6. Privacy and Security of Investment

When you buy a house in your 20’s, you can make an independent decision on what you want to do with your house. Starting to invest in property at a young age will give you financial freedom later on in your life when you get married and have children. If it is for investment purposes, young investors can enjoy the security of their investment since there is little external interference.

As a youth in your 20’s, there are many personal reasons as to why you may want to buy a house now. The best part is that there are many home ownership schemes and programs that are intended to help you own a home at reasonable costs.