Having A House Is Pointless If You Don't Have Any Savings

A house is a luxury, and you do not need luxuries to experience success and fulfillment. Homeownership is often treated as proof that someone has “made it,” but that belief ignores context, timing, and individual financial reality. Success is not defined by what you own, but by how stable, flexible, and prepared you are for the future. For many people, chasing a house too early can actually delay real financial progress.

Renting is almost the same as faux buying. At the end of thirty years, one person owns a home, and the other does not, but for those thirty years, they are often in a similar boat. Both are paying monthly housing costs. Both are committing a portion of their income to shelter. Both are making tradeoffs to afford where they live. The difference is that renters buy flexibility, while faux buyers buy long-term obligation.

If you are debating whether or not to faux buy a house, the first step is to run the numbers honestly. Remove emotion, social pressure, and comparisons from the equation. Look at your income, savings, debt, and long-term goals. Ask yourself how much you will realistically be able to save if you do not sign a thirty-year commitment. Consider how much capital you can invest, how quickly you can build an emergency fund, and how easily you can adapt if your circumstances change.

Then ask the harder question. How much will you lose if you sign the thirty-year commitment? Mortgage payments are only part of the cost. Property taxes, insurance, maintenance, repairs, and unexpected expenses add up over time. Many people underestimate these costs and overestimate the emotional payoff of ownership. The result is a house that looks good on paper but quietly drains financial momentum.

If the numbers work in your favor, then by all means, go for the home. Ownership can make sense when it aligns with your income, lifestyle, and risk tolerance. A house can be a useful tool when it supports your broader financial strategy. But if buying means sacrificing your savings, delaying retirement contributions, or carrying constant financial stress, it is worth reconsidering the timing.

Having a home is pointless if you have no savings, are behind on retirement, and your investments have low or nonexistent balances. In that case, the house becomes a symbol rather than a safeguard. Financial health is built on liquidity, optionality, and long-term growth, not just ownership.

Renting is not a bad thing. Many people rent while aggressively investing, building savings, and increasing their net worth. Renting can provide mobility, lower upfront costs, and predictable expenses. It can be a strategic choice rather than a temporary failure.

Faux owning is also not a bad thing. Many people faux buy homes and are financially successful because they planned carefully, stayed within their means, and treated the house as one part of a larger plan rather than the plan itself.

Whatever you decide is ultimately up to you. Just make sure your choice works in your financial favor and supports your long term goals rather than social expectations. Do not assume you are better off simply because you have a primary residence. True financial success requires balance, discipline, and clarity about what actually moves the needle over time, not just what looks impressive on paper or to others.

Thank you for reading. Cheers to you.

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This article is for informational purposes only and is intended for general education. It should not be considered financial or legal advice. Not all information may be accurate, complete, or applicable to every situation. Consult a qualified financial professional before making any significant financial decisions.