By Okon Ekpenyong
Dolores Khristian lived with her parents until she was 31 with her two kids before moving out and becoming a first-time homebuyer. The intriguing story here is her moving straight from her parent’s home into homeownership, a story that is touching hearts across the country.
Dolores officially closed on her first home and paid tribute to her parents on her social media account, and the audience’s reactions have been overwhelmingly positive.
The teenage years are exciting because one goes from being a sweet, innocent child to a rebellious teenager who can’t wait to move out when they turn 18. When that time comes, parents usually give their children two options: stay here while going to school or move out after getting a job. Some parents may ask for a little contribution. Some do move out and eventually move back in for numerous reasons.
Instead, Dolores stayed home, worked on establishing her credit, which is vital when home hunting, had two car payments, and made sure she kept up with them, in addition to managing motherhood and schooling. Her parents did charge her, according to her post.
“I love to see this; this is how I am trying to build my daughter up for the future. So, I have the knowledge to do it. I am so happy for her,” a member from the Africanbond USA group said.
The path to homeownership depends on your down payment, credit rating, and the area where you want to purchase your first home. Economists have always said that buying a home is much more reasonable and a financial gain than renting, and many young people look to take that leap of faith after securing their first job after college. Adulthood means living an independent life, and when parents come over to visit, you can cook for them for once, and that’s pretty cool.
“And this is how generation wealth creation should be since an 18-20 year old cannot make it on their own in this economy; her parents are wise, and she is brilliant,” another person said.
Dolores’s original statement :
“In my 31 years of life, I never lived outside my parent’s house.
My parents always said, stay with us, save your money, build your credit, and pay your car note and car insurance.
My parents have never made me pay one bill because of them; I have an 800 credit score, paid off two cars, and have money in the BANK.
I was approved to purchase my 1st home in 2018 but was scared because I was a single mother and didn’t know if I could afford it, so I stayed with my parents. Moving forward to 2023, I officially closed on my family’s 1st home. God has truly blessed me beyond measure, and my heart is so whole”.
Some cultures advise their children to stay at home until they graduate from college, find a spouse or are financially able to support themselves.
A recently published article, ” Surge in adults still living with parents as they delay getting married and having babies,” on AOL, shows that “Nearly 5 million adults were living with their parents in 2021, a 14.7 percent increase from 2011 and the highest figure ever recorded”. Rent prices have increased substantially since the pandemic began, which may explain this increase.
Also, a recent US Bureau of Labor Statistics report indicates that 90 percent of young adults aged 27 and older had moved out of their parent’s homes at least once in the past three months, and now the median age of moving out is around 19 years old.
Apartment rent amount varies by city and landlord, and one can expect to pay between 30-60 for internet, about 50 for cable, and about 94 for cell phone and trash. Utilities such as electricity, water, and fuel are usually $250 a month; depending on where one resides, they may be higher.
“That’s what a good family should do, build you and help get you ready for the life out there,” Obinani from the group Africanbond USA said.
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