Can I Actually Buy a House on My Own This Year? Let’s Talk About It.

Buying a home solo in today’s market? It’s bold — and a lot more common than people think.

We hear this question all the time from folks who are navigating big life transitions:

“Can I actually buy a house on my own within the next year?”

Recently, we came across a powerful breakdown of this exact scenario from Ramit Sethi, and it hit close to home — especially for those of you grinding to save, budget, and plan for a future that doesn’t include waiting for someone else to get it together.

Meet Erin — From Austin, TX

Erin is 31, works full-time as a university videographer here in Austin, and recently moved back in with her parents to supercharge her savings. She’s single, financially stable, and wondering if homeownership is a realistic goal — or just something reserved for couples and high earners.

Here’s where Erin’s finances stand:

• Take-home income: $4,600/month

• Savings: $60,000

• Investments (IRA, 401K): $87,000

• Debt: $0

• Rent: $0 (thanks to living at home temporarily)

She’s doing all the “right” things — living below her means, saving a ton, and still budgeting for a little fun. Her fixed costs are around 20% of her take-home income, which is rare — especially in Austin.

So… Can Erin Buy a Home in the Next Year?

Short answer: Yes, technically.

But the real question is: Should she?

With $60K saved and zero rent, she’s in an enviable position. A 20% down payment on a $350,000 home is $70,000. She’s almost there — and if she keeps saving $1,000/month like she is now, she’ll hit that goal in under a year.

But buying a home isn’t just about hitting a magic number. Let’s talk about what that actually means.

What We’d Tell Erin (Or You)

If you’re in Erin’s shoes, here’s how we’d walk you through it:

1. You’re close — but don’t wipe yourself out.

Sure, you could buy a home at the $350K–$375K price point with $60K saved. But that would leave very little room for the “phantom costs” — closing fees, inspections, movers, furniture, surprise plumbing bills, and yes, that first emergency HVAC repair.

Instead, consider saving at least $70K–$80K total so you’ve got a healthy buffer.

2. Run your own numbers — and be real with yourself.

Just because your friend bought a house doesn’t mean it’s your time. Just because you’re eligible for a loan doesn’t mean it’s the smart move. A mortgage ties you to a location, a lifestyle, and a set of new responsibilities. If you’re still figuring out what you want long term, renting another year (while stacking more cash) could be the power move.

3. Use this runway to boost your investments, too.

Right now, Erin’s only putting $50/month toward her IRA — that’s just over 1% of her take-home pay. If she bumped that up to 10% (around $460/month), she could add hundreds of thousands to her retirement portfolio over time thanks to compound growth. If homeownership is a few years out, consider investing more now while you’ve got minimal expenses.

4. Set a timeline and reverse-engineer it.

If Erin wants to buy in 12 months, she needs to save roughly $1,000–$1,500/month to hit her down payment + buffer goal. That’s totally doable with her income and current expenses. But having a target and a timeline makes the process a whole lot more intentional.

TLDR: You Might Not Be Ready Today — But You’re Not Far Off

Erin’s doing what we hope more future buyers will do: asking the question early, doing the math, and making sure the why is just as strong as the how. Buying a home alone is totally possible — and often, it’s a stronger financial move than waiting around for a partner who isn’t on the same page.

At Open House Austin, we work with solo buyers all the time. Our job isn’t to push you to buy — it’s to help you make a smart, empowered decision based on your numbers and your goals.

So if you’re asking the same question as Erin — “Can I buy a home on my own?” — the answer might be yes. But let’s make sure it’s the right move, at the right time, for the right reasons.

Come to one of our workshops or book a free consult — we’ll help you break down the numbers, the timing, and the emotional side of the decision.

Credit where credit is due: This post was inspired by a breakdown originally shared by Ramit Sethi in his I Will Teach You to Be Rich newsletter and podcast. We highly recommend checking out his work if you’re into smart, no-fluff money advice.