Essentially I graduated from college three years ago and have been working as a civil engineer making roughly 72-79K a year. I currently live at my mom’s house and have been doing so for ever since I have graduated college.
I really love my parents and enjoy their company but I’m also an adult male, and now that my 20s are approaching the ending I definitely am thinking about moving to my own place. There’s really no point in renting an apartment because I’m from DFW and I see it as money wasted even though you’re technically paying for flexibility. And while I don’t know if I’ll necessarily live in Dallas 20-30 years from now, I see it as a possibility for the next 20 years give or take.
Ultimately, I want to build wealth and be financially independent. Owning a house that builds equity is the best way to do that in this country. The thing is I want to build my own house since I have an engineering/architectural background and my father owns his own construction/contracting business.
So my question is should I go through with continuing to save up for a house/build my own house given I want to build wealth? Or should move into an apartment in like a year so and continue saving up money that way? I would prefer to live in the same city as my parents because I think family is important, but I’m also young and have job flexibility.
26M Living in DFW Want to Build My Own Home
byu/new_grad_who_this inRealEstate
Posted by new_grad_who_this
3 Comments
Do you foresee staying in one place long term? The best advice generally at the start of your career is to have the flexibility to move around and pursue better opportunities. Very few people fall into a perfect job right out of school. You mentioned staying there potentially for 20 year but have you really challenged that assumption or thought of what life could be like elsewhere?
You’ll be better off getting stable in your career and on a trajectory to maximizing your earnings and THEN getting a house than getting a house first which has massive fixed costs to both buy and sell.
You’ve got a solid foundation here with your engineering background and your father’s construction expertise. That’s a real advantage. A few considerations: First, custom home builds in DFW typically take 12-18 months and can face delays. Have realistic timelines and contingency budgets ready. Second, lender requirements for owner-built homes can be stricter than traditional purchases, so get pre-approval early to understand your actual borrowing capacity. Third, living with your parents while saving is smart, but consider the opportunity cost of staying in one market. The flexibility to relocate early in your career could mean higher earnings long-term. That said, if you’re confident about staying in DFW and your family is there, building equity in a growing market makes sense. Just make sure you have the cash reserves to handle unexpected construction costs without it becoming a burden.
Building a house means you’re there for the long haul. I mean, you can do it and it’s a great idea, but you’re deff putting roots down.
Maybe in your situation I’d suggest a starter home like a condo or townhouse