Currently Reading: A 31 year old in Dallas, Texas, who purchased her second home with the help of the equity she built in her first home.

Home 2: Purchased in 2024

City/State: Dallas, Texas

Purchase Year: 2024

Home Type: Single Family 

Home Price: $415,000

Down Payment: $80,000

Interest Rate: 7.5%

Loan Type: Conventional

3 Bed | 2 Bath | 1200 Sq Ft.

Age: 31

Job: Teacher

Salary: $85,000

Amount in Savings: $5,000

Debt at time of Purchase: $19,000 (Credit Cards)

Home 1: Sold in 2024

City/State: Dallas, Texas

Purchase Year: 2020

Home Type: Condo

Home Price: $246,000

Down Payment: $13,000

Interest Rate: 2.75%

Loan Type: Conventional

3 Bed | 2 Bath | 1200 Sq Ft.

Age: 27

Job: Teacher

Salary: $65,000

Amount in Savings: $3,000

Debt at time of Purchase: $8,000 (Credit Cards)

How many homes have you owned?

2

What amenities did your home come with?

A pool managed by the HOA, a jacuzzi managed by the HOA, and covered parking

Did you have any debt when you bought your property?

I had some credit card debt when I bought my first place. Then when buying my second, I accrued a lot of additional debt when scheduling inspections and paying for plumbing, and roofing bids that I plan on paying off with the income from the sale of my condo, my first property. I put in and had 3 offers accepted in the last year and then paid for 3 inspections and multiple construction/repair bids for each property which contributed to my debt.

Relationship status at the time of purchase:

Single

Where did you get the money for your down payment or for the property if you paid in cash?

For my first property, my parents gave me the option of having a wedding or buying a house. I was not dating anyone seriously at the time and knew that real estate was a better option than saving that money for a potential future wedding. I am so proud of my choice because I am still single and my house appreciated a TON over the past four years of owning it. I then sold my condo to buy this next property. 

I am so proud of my choice because I am still single and my house appreciated a TON over the past four years of owning it. I then sold my condo to buy this next property. 

Are you and have you always been solely responsible for your mortgage payment?

Yes! I am the sole owner of my condo and am responsible for the mortgage payments. In the condo, I lived with my best friend and a rotation of sweet roommates, including my sister for a year - one of the best of my life! Now one friend lives with me in my house.

What is the highest net profit you've made from selling a property?

$136,000

Why did you sell your property? How long did you own before selling?

I owned my condo for 4 years before selling. I sold because I found the PERFECT house in a great neighborhood and did not have the money to own both properties. 

When/how did you make the decision to sell. What did/do you consider?

I made the decision to sell because I could not let this house pass me by. I had been looking for a single-family home for over a year and was hoping to keep my condo as a rental property, but when push came to shove, I didn't have the cash that I'd need for the down payment and I asked my parents if they could help, but neither had the amount of money I'd need for a down payment considering the interest rate and my current income. I also knew that a house would appreciate in value much faster than the condo. 

If you made money selling your house, what did you choose to do with any profits?

With the profits of the sale, I am putting the down payment on my new home, paying off credit card debt, and investing the rest. I may take a little Mexico trip with a girlfriend as a treat to myself for being such a good adult. 

“I may take a little Mexico trip with a girlfriend as a treat to myself for being such a good adult.”

Where are your overall finances/net worth sitting after buying/selling real estate?

I honestly don't know how to calculate net worth, but I am in a much better financial spot than I was even with the house being much more expensive than the condo, because the HOA dues at my condo were so high. 

Tell us about the homes you've sold.

I was in love with my condo. I had a great patio and a cute pink room and it was a safe place for many of my friends to land post-breakup, celebrate new jobs, celebrate engagements, grieve loved ones, create new memories, and just have genuine nights of friendships and laughter. It was a really special home to me and the day we closed the sale, in my last moments in the first home I have ever owned, I let myself sob in the house for all that it was to me and my friends. It was a really really special place and I am so grateful to my parents for providing the means to purchase it and in turn allowing me to buy this new home that I LOVE and get to make new sweet memories in. 

How did you plan for purchasing your home(s)?

I looked with my agent for over a year at a million different condos. I was pretty set on buying a condo so that I didn't have the responsibility of a house for my first place. I knew I wanted an outdoor space where I could eat dinner and sit outside. I talked to my parents and worked with my dad through the process because he has a lot of real estate experience and when I finally found the one, I called him and he said BUY IT. 

Have you/did you feel any pressure or expectation to buy a home? In what way did your family/friends or social circle impact your decisions to buy and/or sell?

Yes, my dad always talks about the value in real estate. It did feel like maybe it was something to do with a future spouse, but I am glad I took the leap when I did to buy a home on my own. 

What amount of risk do you believe you've taken on through the process of owning and/or selling real estate?

2 / 5

If you could do it all again, would you? Is there anything you would you change?

YES! I would do it all over again! I maybe would have bought something sooner, I wish I had looked immediately when I moved to Dallas in 2016 and understood that in the grand scheme of things, the value could only increase in the neighborhoods I lived in, but at the same time, my roommates would not have been my roommates and I probably wouldn't live in the house that I do now. 

What is next for you in real estate?

Hopefully I will be where I am at for a little bit. But I would love to eventually buy some rental properties. 

Tell us about your experience with your Realtor (if you have one!)

MY REALTOR IS THE BEST. I was her RA in college at TCU and I saw her post that she was a realtor on her Instagram. She is so patient, has looked at tons of properties with me and helped me through buying, selling and buying again and come up with some creative solutions. Anyone buying and selling in Dallas should use her! [Note, if you would like to get in contact with this Dallas agent, please email us at hello@bettermondays.us].

Tell us about anything unexpected (good or bad) throughout your buying, selling, or ownership experience.

My favorite thing is painting my room and changing light fixtures. My first year in the condo, my family came out for Christmas and it was so fun to host a holiday for them. 

“It did feel like maybe it was something to do with a future spouse, but I am glad I took the leap when I did to buy a home on my own.”

Like what you read or have questions for our homeowner? Drop them in the comments below. *Friendly Reminder: Kindness always wins. 

The first step to getting ready to buy or sell your home is to get your finances in order and speak with a professional about what home buying or selling may look like for you. If you’re looking for a realtor and team in San Diego, click here. If you want to connect with an agent and real estate team out of San Diego, click here.

Do you have a Homeowner Diary you’d like to share? Submit it with us here.

Have questions? Email us.

The goal of Homeowner Diarie$ is to share stories about how others have bought and sold real estate and does not serve as advice, or reflect the views of Better Mondays.