I'm young, 22. I have a fulltime job and I work doing hard labor. I can't put money away, because I don't make enough.
How can I afford to buy land? and build a house without a loan?
It seems so impossible to do anything, and I feel financially stuck.
I don't want any debt. and I've never been in debt.
USDA home loan. No money down, about 5k in closing costs, but you have to live in a rural area. Look into it, don’t throw your money away renting.
Actually.......cities with the highest unemployment are also where the home ownership is high. Especially rural. No downer here, just a fact. It's because people when they need work, sometimes Need to move and can't because they own a home. So make sure you have a skill that is very much needed. At our last residence, so many friends and neighbors lost their jobs and had to move and they let their houses foreclose. Equity down the toilet, but looking at their lifestyle I think they had their homes in hock. We didn't and survived and made a killing when the housing market bounced back. But it was very tough going for about 5 years.
Agree. Not all debt is bad, if you buy things that appreciate. Problem is people buy their dream house and over leverage themselves. Use the debt to your advantage.