Inside the real experience of a first time homebuyer: breaking a lease, using her 401k, and learning what it truly means to own a home.
Summary: What really happens after a first time homebuyer closes on their first home? In this true story, Sally shares how she stopped renting, used her 401k for a down payment, and learned to navigate fixed payments, unexpected repairs, and long-term financial growth. Three years later, she reflects on how the decision changed her life.
Check out Saly’s original first time home buyer story here!
Why She Didn’t Wait for “Perfect Timing”
Sally didn’t wait for perfect market conditions—she acted when it was right for her life. Even though the headlines were scary and her lease was still active, she knew waiting longer could cost more in the long run.
- Rising interest rates didn’t stop her
- Lease still active when she started the process
- Realized timing would never be perfect
- Stability mattered more than market headlines
Watch Sally’s Full Interview
Breaking the Lease: Doing the Math and Trusting the Team
Breaking the lease wasn’t impulsive—it was a financial decision backed by support and clarity. With help from her Unicorn team (a local, vetted expert real estate and lending team), Sally weighed the short-term penalty against long-term financial growth and peace of mind.
- Ran the numbers on lease break penalty vs. long-term equity growth
- Team helped map out monthly mortgage vs. rent
- No pressure—just transparency and math
- Cost to break lease became a strategic trade-off
How She Used Her 401k for the Down Payment
Using her 401k wasn’t risky — it was a strategic step that made her purchase possible sooner. She borrowed from her future self to invest in stability now, and she’s already seeing the returns.
- Took a loan from her 401k to help cover the $11,000 in closing costs
- Viewed it as borrowing from herself, not a loss
- Understood the repayment structure and tax impact
- Enabled her to buy sooner rather than saving for years
Homeownership vs. Renting: What Changed Overnight
Owning gave Sally freedom, peace of mind, and the power to build her own space. Instead of feeling limited by a landlord, she started making the space her own—and feeling proud of it.
- No more rent hikes or lease limits
- Created a green home office just for her
- Felt proud, grounded, and capable
- Started to feel like she was building something, not just surviving
What It’s Like to Actually Own: Bills, Budgets, and Repairs
Sally quickly learned that homeownership brings new responsibilities—but also confidence. Even the surprises became manageable with planning, and she feels empowered knowing she can handle it.
- Faced unexpected issues like insurance changes and repairs
- Budgeted carefully and tracked every expense in a spreadsheet
- HOA fees and maintenance costs were manageable with planning
- Fixed payment brought financial consistency
Starting New Traditions and Building Something Bigger
Beyond finances, homeownership allowed Sally to create a personal legacy. From meaningful traditions to DIY projects, her home reflects who she is and where her life is headed.
- Annual Christmas Polaroid tradition in the home
- Built a custom bookshelf (her husband delivered!)
- Took pride in every improvement and decision
- Sees the home as part of her family’s story
Does She Regret It? Here’s What She Says Now
Not for a second—Sally feels empowered and excited about what’s next. Her story proves that even without perfect timing or a booming market, buying can still be the right move.
- Grateful she didn’t wait
- Enjoys the fixed payment and privacy
- Planning to rent the home out in the future
- Feels capable of buying again when the time comes
Find Your Personal Homebuying Education – An In-Depth Guide
How to Buy a Home has been helping first time homebuyers since 2019, with hundreds of free resources designed to help anyone at any stage of homebuying. As a result, we’ve gathered quite the library of content. If you’re looking for a shortcut through the all the episodes, then look no further!
Ready to Start Your Homebuying Journey?
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