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Podcast 146: Buying a House In Your Early 20s

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Today on the Consumerism Commentary Podcast, Tom Dziubek talks to MD, founder of the personal finance website Studenomics.

MD talks with Tom about topics such as his inspiration for Studenomics, how he got through college without having to pay off student loans, and also about things that people in their early twenties need to consider if they’re thinking about buying a home.

Consumerism Commentary Podcast
Buying a House In Your Early 20s: S06E16 / 173

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Table of contents

Consumerism Commentary Podcast[00:00] Introduction from Tom Dziubek
[00:36] Interview with MD
[00:53] MD’s inspiration for Studenomics
[02:22] The focus of Studenomics
[03:14] MD’s college years
[03:53] Starting off at a community college
[06:00] The start of the blog
[08:31] Paying for college
[13:32] Buying a home in your early 20s: Income considerations
[15:26] Considering your savings
[16:37] Taking into account your relationship status
[18:42] The need to be somewhat handy
[20:51] MD’s current projects
[23:53] End

We always welcome feedback from listeners. If you have any comments for this episode or for any other, or if you have suggestions for future episodes, please leave us comments here or email us at podcast at this domain name.

Theme music by Mindcube.

Published or updated January 31, 2012. If you enjoyed this article, subscribe to the RSS feed or receive daily emails. Follow @ConsumerismComm on Twitter and visit our Facebook page for more updates.

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About the author

Luke Landes, also known as Flexo, is the founder of Consumerism Commentary. He has been blogging and writing for the internet since 1995 and has been building online communities since 1991. Find out more about him and follow Luke Landes on Twitter. View all articles by .

{ 2 comments… read them below or add one }

avatar shellye ♦107 (Cent)

I wouldn’t advise a person to buy a house at all unless he or she is completely finished with his or her education, has a job that enables him or her to pay all the bills associated with the house, and has done enough traveling and sowing wild oats to want to settle down. I bought my first house at age 23 after getting married and getting a full-time job, but in hindsight I think it would have been nicer to have used that money to travel and see the world before becoming obligated to mortgage payments and home maintenance duties. Paying rent doesn’t always equate to ‘throwing money away’ if the freedom of renting allows a person to pursue more important things, IMHO.

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avatar someguy

I agree with Shellye, especially the part about considering not buying even if you easily can. If you are worried about missing out on a possible major uptick in property values, consider buying a rental property or several and finding a local inexpesive property manager. Even in our mid-thirties and with quite good income and cash, we often wish we were renting to not have to worry about maintaining our place and because it’s easy to up and move (either within the same city/area or to a different one) if you rent. The world is becoming more mobile and those who aren’t geographically limited stand to benefit more.

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