22 y/o Seeking MT Advice

Spend less than you make

Rest kind of works itself out

Start putting what you plan on paying for a mortgage away in savings every month and see how that feels with what you have left.

Building a house as your first house would not have worked for me. It took me a good bit of time with the first home and second home to learn what I liked and disliked. Building a custom home is expensive. If you are “building” a generic cookie cutter home than that’s another reason to avoid. In general, buying an older less update home in an established neighborhoods will hold its value better. Save the custom home for later.

We may start to see more foreclosure activity. If we do, buy a HUD house or some other kind of foreclosure on the cheap. Get used to home ownership on someting cheap.

Do that for a few years, then if you can, buy something nicer / larger if you want, and keep that first house as a rental.

Tip #1: Don't build a house. I cannot fathom a scenario where a 22yo can reasonably know what his home needs will be in 5, 10 or 20 years. You gonna get married? Have a few kids? Very different house than what you'll be able to afford at your age.

If you want to buy, get a starter and put some sweat equity into it. When it comes time to sell, you'll be better equipped to step up in house if you need to. Don't sink a ton of money into a (probably crap) new build. The only way i can see that making sense is if you are doing some kind of tiny home

What's the expected time line in the new house?
3-5 yrs?
5-10?
10-20?

Most of my mortgage/purchase advise relates to the duration in the loan.

Get married now even if you gotta knock some chick up. Make sure she’s got good genes and her parents aren’t divorced

Like if you’re single no kids in your 30s you gonna develop hella nihilism and wonder why you even go to work every day. It sucks bruh ngl

Just rent an apt. You’re too young to be plowing $ into a house.

I’d say buy a fixer upper then rent rooms to your friends and trick them into helping you renovate it

22 year old with a good head on his shoulders, seeking advice from people with more experience?

At worst, you will not be a failure, and at best you will be very successful. High floor and high ceiling. Good luck ????