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My FIRST home!! In early 2010, I had only been working full time for just over 6 months when I started house shopping. I was looking for my primary home, but I wanted something that had rental potential in the future.
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I was working at the Housing Authority, in the Section 8 department. I had finished grad school during the recession, and jobs were scarce. I was lucky to get a full-time position where I had been interning. Starting pay was just over $30k. Yes, with a BA in Architecture and an MPA. I originally saw the job as a waste of time... but I owe a lot to that job. Part of my job was pulling deeds to prove landlords owned the homes they were renting. I saw houses they bought for $30k and rented for $900/month, and I thought -- Why not me? Shouldn't I be making this money too?
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I bought this new construction townhome about 7 minutes from where I grew up. It cost $94,900. I put 3.5% down with an FHA loan, so it cost me $3,322 to buy this home since the builder paid closing costs. But then I qualified for the FIRST TIME HOMEBUYER CREDIT! I closed on 3/18/2010 and collected my $8,000 from the federal government when I filed my taxes in April 2010. Cha-ching!! FREE HOUSE!!!!

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