Buying a Home in San Diego - Key Strategies to ImplementJump To Recipe
We Bought A House!
We got the keys to our home on July 24, 2019. This was so exciting-owning our very first home in San Diego! If I had a dollar for every time I ever heard someone say “Homes in San Diego are too expensive” or “It is almost impossible to own a home in San Diego”, we’d have our home paid off by now. 🤪
I am here to tell you it is possible to own a home in San Diego, and it is possible to achieve your wildest dreams!
I am very much an “if there is a will, there is a way”, and “with God all things are possible” kind of gal. In my single years, I dreamed of having my own home with my husband and kids one day.
In a nutshell, here is how we bought a home at 27 (me) and 30 (him) years of age:
1. We Had Little to No Outstanding Debt
The only debt I had going into marriage is from my 5-year car loan. My husband had his car paid off, and the only expense he had was my ring (thank you honey-it is a gorgeous rock!). Living debt-free is the best because you never have that weight on your shoulders of owing money that is racking up in interest to a financial institution. I understand that some debt is inevitable, but if at all possible, don’t spend more than you actually have. It’s quite simple.
2. I am Frugal by Nature
I grew up in a home where my parents were very conscientious about the money they spent. They did not live frivolous lives and they never were drowning in debt. Naturally, I adopted my parent’s way of living within my means and trying to save money where I could. My first car was used, and my second car (my current car) was also bought pre-owned. I would say I am more of the frugal type than my husband, but he’s not a shopper like I am lol. So it is a good balance. I save where I can, and for special purchases, then we splurge, knowing it is for a special occasion.
3. We Kept Good to Excellent Credit Scores
I got my first credit card at 19, and I always made it a rule for myself to never have a balance carry over into the next month. I always paid off my credit cards before the due date. Now were there hard times where I didn’t have enough money to pay off in full before the due date? Sure, but I always paid off my credit cards before interest accrued. I think I have only had to pay interest a few times in my life. It is so confusing for me, the billing cycle but it is just easier to pay off my credit card in the same month I use it. I also keep my credit usage down, I keep it 10% or lower of my available credit limit. I’ve maintained a 700-800 score over the years which is considered good to excellent.
4. We both have full-time jobs (and some side hustles)
This was so helpful when we were getting approved for a home loan because we both had good-paying jobs. I like to side hustle, hence the blog, but before I started the blog, I would babysit (still do), sell baked goods, etc. We are so thankful to God for our careers because we love the hospitality industry, and can afford a monthly mortgage payment without struggling.
5. We both are Serious about Saving
I like to keep multiple savings accounts for different occasions (my husband laughs at me for this) so I have an allocated amount of money for wants and needs. My husband is much more knowledgeable at investing than I am, so he would keep his savings in Betterment and earn a few hundred dollars from stocks/bonds. I don’t like taking on that much risk, so I like to use my Capital One Savings to rack up interest, which I earn way more interest than my credit union would.
6. We Lived at Home
We both lived with our families until we got married. One reason we both believe in what the Bible says about marriage and intimacy, so we waited to be married before moving in together. Secondly, we both had parents that were gracious to let us live at home while we worked on getting our degrees and careers established. Needless to say, we saved a lot of money this way.
Last but not least, it was by the GRACE of God that we were able to buy a home as newlyweds. God is good and He definitely provided for us. All thanks to our Jehovah Jireh, our provider.