Once had 3 properties, then sold them all, I'm happier than ever "not owning a house"

Not obsessed with the desire to own real estate, the 39-year-old female millionaire is happy because of this.

Bernadette Joy is the CEO of a personal finance consulting company in the US. She has helped thousands of people get out of debt, take control of their savings, start investing and find financial peace. Bernadette paid off $300,000 in debt in three years and became a millionaire by the age of 30.

Growing up in New York as the eighth of nine children, Bernadette's immigrant parents always dreamed of owning their own home and imposed that desire on their children.

So in 2013, at age 28, Bernadette and her husband bought their first home: a 1,500-square-foot, two-bedroom house in Charlotte, North Carolina, for $101,000. They took on a 10-year mortgage.

Owning a real estate portfolio became a key part of her financial plan. “I thought owning real estate meant I was finally growing up. Over the course of a decade, we bought and sold three properties: our first home, a four-bedroom house, and a two-bedroom condo. I also paid off $300,000 in debt and made my first million,” Bernadette shared.

By 2019, she was the proud owner of her home with her mortgage paid off. However, during the pandemic, her goals changed and she wanted more flexibility. So in 2022, Bernadette and her husband sold their property and started renting again.

She says that's why she's so much happier now and doesn't regret leaving home ownership behind. Here's how Bernadette explains it:

I feel like my space is more manageable.

Today, we rent a 1,100-square-foot two-bedroom apartment in Charlotte for $2,553 a month.

We spent $3,400 a month on housing costs when we lived in a 4-bedroom apartment, including $750 a month for maintenance and DIY projects. We also kept $20,000 in an emergency fund for unexpected problems.

Now we hand over the headache of property maintenance to the actual apartment owner. Our emergency fund lasts nearly five months instead of three, and we sleep better at night.

Since giving up my real estate holdings, I've cut my time spent on housework in half. And we enjoy living with less clutter after paring down and donating much of our clothes and furniture.

I have the right to use the amenities I want.

Living in the suburbs during the pandemic has made me feel a bit isolated. It's made me realize how much I want a walkable environment.

When I rent, I can easily walk to restaurants and parks, and am within a 5-minute drive of theaters, museums, and galleries.

Our building features a rooftop, co-working space and gym, and hosts many community events.

Before renting and moving into our current apartment, we had to calculate carefully to be able to own a two bedroom, two bathroom apartment - without any of the amenities we wanted.

If we owned that apartment, we would have to spend about $1800 more per month just to have access to the same types of services.

I'm glad I didn't settle for something I didn't like, just to claim ownership of a property. Thanks to that, I can invest more in myself and my future.

Once the money is no longer tied up in real estate, we invest the proceeds from the sale of real estate into more flexible options, like high-interest savings accounts and other investments.

The passive income we receive from those investments is now enough to cover our monthly living expenses, which are around $2,500.

We can also focus more on saving for retirement and still have money left over for other expenses, like travel.

I am an entrepreneur and personal financial advisor. Thanks to my new living situation, I can invest more in developing my business and skills, fund conferences and networking events, and participate in fun self-care activities such as yoga, dance, and acting classes…

I wouldn't change a thing

I want to be clear that I don’t think owning a home is a bad decision and renting isn’t financially crazy. The flexibility of renting has given us the confidence to explore the world, work abroad and maybe even own a home again in the future.

Many people still ask me why I rent when I can afford to buy, but I’ve learned to stop trying to explain it to others and justify my decision with other values. So the last time I was asked, I simply replied, “I’m happy where I am.”

Source: https://giadinh.suckhoedoisong.vn/trieu-phu-39-tuoi-van-di-thue-nha-tung-co-3-bat-dong-san-roi-ban-sach-toi-hanh-phuc-hon-het-khi-khong-so-huu-ngoi-nha-nao-172250211081922176.htm