Renting? 4 Moves to Make Homeownership Actually Attainable

Let’s be honest—renting in NYC or Long Island isn’t cheap.

You’re already paying a mortgage… it’s just not yours.

If you’re tired of throwing money into someone else’s investment but feel like you’ll never be “ready” to buy, this is for you. Whether you’re single, co-parenting, or raising a family, here are four steps renters are taking to become first-time homeowners—even in this market.

Step 1: Know Your Starting Point—Not Just Your Credit Score

Yes, your credit matters. But lenders also look at:

• Your debt-to-income ratio (DTI)

• How stable your income is

• Your savings habits (and consistency)

• If you have any gift funds or side hustle income

What to do now: Get a real assessment, not just an app score. Talk to a local lender who can walk you through a personalized plan—even if you’re not ready to buy yet.

Step 2: Treat Your Rent Like Practice for Your Mortgage

Let’s say you’re paying $2,200 a month in rent. Could you afford a $2,400 mortgage? Maybe. But let’s prove it.

Try this:
Each month, “pay” your future mortgage. If it’s $200 more than rent, move that extra $200 into savings. Not only will you build your down payment, you’ll prove (to yourself and a lender) that you can handle it.

Step 3: Learn the Power of the Starter Home

You might be dreaming of granite countertops, a finished basement, and a backyard with a pergola… but that may not be step one.

Here’s the truth:
You don’t have to buy your forever home first. You just need to buy your first home. A co-op. A two-bedroom condo. A small ranch outside the city. Equity is a stepping stone—and owning something is often better than waiting for everything.

Step 4: Don’t Be Afraid to Partner Up

More renters are:

• Buying with a sibling, cousin, or best friend

• Purchasing with their parent or adult child

• House-hacking by renting out a portion of their new home

You don’t need a spouse to start building generational wealth. You need a plan—and the right agreement in writing.

Bonus: Programs That Can Help Renters Buy

There are local and national programs offering:

• Down payment assistance (up to $40K in some cases)

• Grants for first-time buyers

• Special low-rate loans for renters transitioning into ownership

If you don’t know about them—it’s because no one told you. Let’s fix that.

Final Thoughts

Renting isn’t a failure. It’s a season.
But if you’re ready to stop watching home prices rise while you stay stuck, it’s time to move from reaction mode to a real strategy.

You don’t have to do it alone. Let’s put together a game plan that makes homeownership feel possible—not overwhelming.

Download my free guide:

“5 Steps to Buying Your First Home Without Losing Your Mind (or Your Faith!)”