What Does “Moneymaxxing” Have to Do With Buying a Home?
There's a term popping up on social media lately that caught my attention: moneymaxxing.
Like most social-media trends, the name is new. The idea really isn't.
Young people are becoming more intentional about their money. They're thinking about what they spend, living within their means, questioning whether they actually need the biggest or newest version of everything, and trying to make choices today that put them in a better position tomorrow.
And as a Realtor, I immediately thought:
This is exactly how we should be talking about first-time homeownership.
Because maybe your first home doesn't need to be your dream home. Maybe it shouldn't be.
What If Your First Home Is Simply Step One?
There's tremendous pressure around buying your first house. You start scrolling through listings and suddenly the wish list grows.
Three bedrooms. A beautiful kitchen. Big backyard. Finished basement. Great neighborhood. Home office. Two-car garage. Before long, you're trying to buy the house you imagine yourself needing ten years from now.
But what do you actually need today? That's a question I wish more first-time buyers would ask.
Your first property doesn't have to accommodate every version of your future life. It needs to work for the life you're living now, fit comfortably within your finances and—ideally—help position you for whatever comes next.
That's where I think condos deserve a second look.
Could a Condo Be a Smarter First Purchase?
For the right buyer, absolutely.
Owning a condo can give you many of the benefits of homeownership while eliminating some of the responsibilities that come with maintaining a detached house.
- Instead of waiting until you can afford the "perfect" house, you may be able to purchase something that fits your budget now. You begin making mortgage payments on an asset you own, with the potential to benefit from appreciation while gradually paying down the principal. Just as importantly, choosing a home that fits comfortably within your budget can leave room for your financial priorities-saving, traveling, building an emergency fund, investing in your career and simply enjoying life.
To me, that's the most interesting part of the moneymaxxing conversation. It's not about spending as little as possible. It's about being intentional about where your money goes.
Buy With the Next 2–3 Years in Mind
I wouldn't tell a buyer:
"Buy a condo now and you'll have enough equity for a house in three years."
No Realtor can responsibly promise that. Property values fluctuate. Selling has costs. Interest rates change. Life changes.
Instead, I'd ask: Where would you like to be two or three years from now?
Then we work backward.
Could purchasing a property you can comfortably afford today potentially put you in a better position when you're ready for your next move?
Could you begin building equity rather than continuing to rent?
Could you learn what you actually like—and don't like—about owning a home before making a much larger purchase?
For some buyers, the answer could be yes. And that brings me to a property I'm selling right now.
A Real-Life Example in Grand Blanc
I currently have a move-in-ready ranch condo in Grand Blanc Township that made me think about this entire conversation.
And if the word condo makes you picture a tiny apartment, this one may change your mind.
It offers approximately 2,630 square feet of finished living space, with:
- 3 bedrooms
- 3 full bathrooms
- A main-floor primary suite
- First-floor laundry
- An updated kitchen
- Open living and dining spaces
- Fireplace
- Finished daylight lower level
- Large flex space
- Attached 2-car garage
- Deck with private views
The home was built in 2004 and remodeled in 2022.
The main level gives you the ease of ranch-style living, including the primary suite and laundry.
And there's the finished lower level.
It adds a third bedroom, full bathroom and a substantial flex area that could become a home office, media room, workout area, guest space or hobby room.
That's what I like about this particular property for this conversation.
You're not necessarily buying something you'll immediately outgrow.
There's flexibility here.
And This Is Where Condo Living Gets Interesting
And yes—you absolutely need to factor an association fee into the true monthly cost of owning a condo.
But you also need to consider what you're receiving for that money.
Someone else handling the snow and exterior grounds maintenance has value, particularly if you'd rather spend Saturday morning doing something other than maintaining a yard.
This is why I don't like evaluating properties based on one number.
Look at the whole picture.
1. What does it cost?
2. What does that cost include?
3. How does the home fit your lifestyle?
4. How long might you stay?
5. And what other financial goals do you have?
Is Buying Always Better Than Renting?
No. And that's an important part of this conversation. Sometimes renting is absolutely the right decision.
Before buying a condo, I'd want a first-time buyer to understand the entire financial picture, including the mortgage, property taxes, homeowners insurance, association dues, closing costs and ongoing maintenance.
We'd also want to look carefully at the condominium association, its finances, rules, reserves and any potential assessments. And I'd want you to have money left after you close.
Buying a home shouldn't mean draining every dollar you've saved just so you can say you're a homeowner. That's not moneymaxxing. That's being house-poor.
Your First Home Doesn't Have to Be Your Forever Home
Your first home can be a stepping stone. Buy thoughtfully, live there, make it yours, learn from it and build financial stability. Then, two or three years from now, look at your life and the market again. Maybe you stay five years. Maybe you stay ten. Or perhaps the equity you may have built, combined with additional savings, helps you make your next move.
Could This Grand Blanc Condo Be Your First Step?
If you're a first-time buyer wondering whether a condo could make sense—or you're simply trying to figure out whether you should buy or continue renting—I'd be happy to have that conversation.
And if you'd like to see the Grand Blanc condo that inspired this post, you can view the full listing and photos here:
→ VIEW THE GRAND BLANC CONDO
No pressure to buy the biggest house.
No pressure to buy before you're ready.
Just a conversation about where you are today, where you'd like to be a few years from now, and whether real estate can help you get there.
Kathy Remski
@properties REMI | Christie's International Real Estate
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If you're thinking about buying or selling in Birmingham, Bloomfield, Royal Oak, Beverly Hills, or anywhere in Oakland County, I'd be happy to help you find a home with lasting value—and endless potential.
FAQ
- Is a condo a good first home?
It can be. Condos can offer an entry point into homeownership with different maintenance responsibilities than a single-family home. The right choice depends on the purchase price, association costs, finances, lifestyle and expected ownership timeline. - Can I build equity in a condo?
Potentially. Equity can increase as you pay down your mortgage and if the property's market value rises. Appreciation, however, is never guaranteed. - How long should I own a condo before selling?
There isn't a universal number. Transaction costs and market conditions matter, which is why I recommend thinking in terms of your broader two-to-three-year plan rather than assuming you'll automatically sell on a particular date. - What should I investigate before buying a condo?
Beyond the unit itself, buyers should understand the association dues, what those dues cover, association finances and reserves, rules, insurance responsibilities and potential assessments.
