I was 23 years old when I bought my first house. Yes, it's a small house but I was proud of it like heck. It was a dream and when I finally got it, I felt like a winner! (Read more about it here)
When I think about that day, it makes me smile. In it, I saw my hard work came to life. All the scrimping and all the ramen-diet I was doing didn't go to waste. It goes to show how being frugal can, sometimes, make your dreams come true.
As much as I am happy I finally got a house, there are things I wish I knew before I let go of my 1.3 Million:
- I wish I knew the power of good debt. I should have apply for a mortgage, pay the house every month and invested the rest.
- I wish I knew about investing, compound interest, stock market, mutual fund and the "power of time" at that time. I would have invested earlier rather than buying a house.
- I wish I checked the location and the house personally before buying. I just did the checking in the Internet. I let my cousin and my mom checked the property. Since my mom liked it, I said yes.
- Since my brother was going to college nearby, I wish I just let them rent a house or a room instead of buying one. It would have saved me money plus, Cebu isn't really a place I'd like to live so buying a property wasn't necessary.
- I wish I knew about foreclosed properties. I would have checked on that avenue first before deciding to buy a house.
Don't get me wrong, I don't regret buying it but if only I've known more about buying properties, like I do now, then it would have been so different.
At least I have a house I call my own to go to when I finally come home for good in 4 months!