How many of us own a home? Every year, I think it's finally the year I can start saving for my own home, and then the most random unexpected bills come up and throw me off. What is the trick to stop paying rent and finally get your house? I know it starts with saving and having the money for a down payment, but are there are other less-known but important things to keep in mind?

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I own a home but I bought my first property in 2001. Things were different now. I would suggest setting up a mutual fund and sending some amount of money to it monthly. You can tap it for emergency spending if required but you should try to not touch it. Which you commit to a monthly amount it should become like taxes, you don't spend it you save it. Because it's in a mutual fund it is not immediately available to spend, you have to transfer it to your bank. Additionally. Mutual funds have significantly hire interest than a bank savings account.

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I'm a millennial, I've made peace with the fact that I'm never going to own a home. I have money for a down payment but every time I think I save up enough, the housing market increases. It's like chasing the wind at this point, lol. I guess I don't mind renting, I don't have to do any repairs…

I do. To be completely transparent, I was only able to because of my in-laws' generosity. We saved for years for a home and still only had half of what we needed for the downpayment. They offered to loan us the rest when we found out my wife was pregnant and needed to get out of our apartment. With how much prices have increased, we'd probably still be saving up for that down payment.

I am hoping to own my first home next year. I have 15K saved up and I want to get to 30K so I have the down payment (5%) for the rental property I'm looking for. Owning the home I'm going to live is the next step. Slowly but surely.

I own mine, bought in 2013. I could have enough down payment thanks to my parents in law who gave a home for us for 3 years when we saved a lot.
Do not imagine it was easier before, at least since 2000s. I putted most of my money there, saving in everything. The key is to make sure your expenses do not grow with your income. Very few restaurants, cheap holidays , lots of manual work i do myself, etc

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