"I knew I wanted to own a home one day, but I didn't imagine it would happen while I was a single woman on a teacher's salary - or that the process would feel so logistically manageable. In 2020, I was 24 and began considering getting my own place after living with my parents for my whole life. That year, during the pandemic, they said they planned to downsize in the next two years -"
"At first, I looked at apartments to rent and signed a $1,700-per-month lease for a two-bedroom unit in the building where my cousin lived. However, when my cousin went to renew her lease, they raised her rent by $300. I started to worry about how much my rent, which already felt high, could go up, so I decided to stay at my parents' while I explored other options."
Jasmine Austin, a 24-year-old kindergarten teacher in Richmond, VA, wanted to move out when her parents planned to downsize during the pandemic. She briefly signed a $1,700 monthly lease but became concerned after a cousin's rent increased by $300. She paused renting and explored buying, prompted by a sister who worked in mortgages. She discovered homebuyer assistance programs, improved her budgeting, and secured down-payment financial help. She found townhomes under construction that matched her priorities — proximity to work, safety, and a private garage — and used assistance to make homeownership feasible.
Read at Business Insider
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