Additional Coverage:
- I bought a house using a VA loan, becoming the only family member to own a home. I feel guilty that my siblings never will. (businessinsider.com)
Homeownership: A Dream Realized, But With a Side of Guilt
The dream of owning a home is one many Americans share. For me, that dream came true in 2006 when I purchased my first house with a VA loan at 6.25% interest. Since then, I’ve navigated the housing market, buying and selling three homes, and I currently enjoy a remarkably low 2.25% interest rate thanks to a timely refinance during the pandemic.
My journey has been one of both excitement and apprehension. Each purchase, from my first home in 2006 to my current one in 2018, has brought its own set of circumstances and interest rates. I’ve experienced the thrill of securing a lower rate, the practicality of reducing my monthly mortgage payments, and the strategic decisions involved in buying and selling.
However, alongside the pride of homeownership comes a pang of guilt. While I’ve been fortunate enough to achieve this milestone, my siblings haven’t.
As home prices and interest rates continue to rise, their dream feels increasingly distant. This reality weighs heavily on me, as I long for them to experience the same joy and stability that I’ve found in owning a home.
I recognize the factors that have contributed to my success: taking calculated risks, relocating for work opportunities, and maximizing my VA loan benefits. Yet, luck and timing have also played a significant role, a fact that underscores the current challenges in the housing market.
The dramatic increase in home values adds another layer to this complex emotional landscape. My current home, purchased in 2018 for $240,000, is now valued at almost $403,000. This substantial appreciation, while beneficial for me, further highlights the financial hurdles faced by aspiring homeowners like my siblings.
While I celebrate my own good fortune, I remain hopeful that the housing market will eventually become more accessible, allowing my siblings and others to realize their dreams of homeownership.