Why a 31-Year-Old Millionaire Finally Chose to Purchase a Home

Entrepreneur and author Tori Dunlap has often pointed to renting as a crucial factor in her journey to building a successful business and amassing millions in wealth.

"One of the smartest financial decisions I ever made was holding off on buying property," Dunlap mentioned in a 2024 interview.

Despite having the means to buy earlier, and nearly purchasing a condominium near Seattle at the age of 22, Dunlap found that renting fitted her dynamic lifestyle better. With frequent travel commitments for work, owning property would have tethered her with a three-hour daily commute. When she turned 27, she embraced a nomadic year, storing her belongings and globetrotting, a scenario that would have been complicated by home ownership.

Each attempt to navigate the process of buying a home was thwarted by her business demands. "I just didn't have the capacity," she recollects. "There was always something pressing with my business ventures."

However, things took a turn in the summer of 2025 when Dunlap, at 31, sealed the deal on her first home.

Tired of Others Dictating My Living Arrangements

Financially prepared to buy her own place for years, Dunlap grew her wealth significantly by 25 and enjoyed considerable stability by 27. Renting allowed her to focus not only on scaling her business but reveling in extended periods of travel without the concern of managing mortgage payments on top of rental expenses.

When the owner of her latest rental property decided to sell it, repeating a scenario she had faced before, she was confronted with a choice: rent again or dive into ownership. With her life's circumstances evolving, the latter appealed more.

"I was simply fed up with someone else determining my residence year after year," she shared in a podcast episode. A stable relationship and a thriving business nudged her perspective: "I want the autonomy to decide my comings and goings and shape my life on my terms."

And that's when she concluded, "It's time. It's definitely time to buy a house."

Balancing Emotions and Finance as a Multimillionaire

When finding the right home, Dunlap prioritized emotional connection over financial practicality. Her goal was not to secure the best financial return or the bargain price but to find a place that truly felt like home, reflecting a broader philosophy that personal finance should enhance, not complicate, one’s life.

"I aim for personal finance to be a tool," she emphasizes. "Don't let it drive your major decisions. Choose a home where you can envision your life — irrespective of its investment potential."

Despite her emotional criteria, she strategically maneuvered the buying process using her financial acumen.

Initially planning not to take out a loan, Dunlap discovered her ideal house was slightly beyond her budget. Yet, she was in a position to not only adjust her financial boundaries but to also creatively strategize on affording her chosen property.

Ultimately, she opted for a mortgage covering part of the cost, contributing about 60% as a down payment. When faced with necessary plumbing repairs quoted at $50,000, she found a cost-effective contractor, underscoring the wisdom of keeping financial reserves for unexpected expenditures.

"For the first time in half a decade, I find myself a wealthy individual but with debt," Dunlap acknowledges. "This surprises many, given the perception of wealth, but it's a deliberate choice to maintain liquidity by leveraging debt wisely."