Woman talking(l+r), House(c)

Joseph Hendrickson/Shutterstock @samantha.barker8/Tiktok (Licensed)

‘I took out ANOTHER $10,000 personal loan’: Woman warns buying a house ‘financially ruined’ her in unexpected ways

'I’m gonna share what those numbers look like.'


Natasha Dubash


Posted on Apr 14, 2024   Updated on Apr 14, 2024, 7:22 am CDT

A woman on TikTok revealed that she recently bought a house, but also says that the decision ruined her financially. 

Sam Barker (@samantha.barker8) shared the details of how the many hidden costs of buying a house left her in dire financial straits.

“So buying a house has ruined me financially,” Barker says, while filming from her car. “And for the sake of transparency and accountability, I’m gonna share what those numbers look like.”

She then explains what her financial situation was before she bought her house.

“So before buying a house, the only debt I had was student loans and a car payment,” she says, adding that since the purchase she’s had to add monthly mortgage payments to her budget as well. But then, Barker details all the additional and unexpected costs her house had. 

“On top of [mortgage payments] I had to spend $25,000 on a new HVAC, new ductwork, [and] new electrical. I had to spend $15,000 to get my foundation repaired just so that I could use one of my bedrooms,” she says.

Barker adds, “I took out another $10,000 personal loan so that I could fix my porch and deck because my house was not insurable without it. Then just for other miscellaneous payments to contractors, again just to make my house livable, I have about $15,000 in credit card debt.”

“So yeah, went from being the most financially sound, good to go, had my retirement saved up, to drowning in debt,” she concludes.

But before ending the video, Barker adds that she has a plan to get herself out of debt by picking up extra side hustles on top of her nine-to-five job.

“I feel good, I feel optimistic and empowered, and follow along if you wanna see how it do it,” she says. 

In the caption, Barker also adds that she forgot to mention “the 15k loan for down payment assistance, plus the 30k” she’s spent from her savings to her tally. 

Although she received over 464,000 views on her post, the TikTok creator turned off comments citing the fact that there was “a lot of negativity and assumptions” that did not reflect the mission of her account, which is to support and empower others who might find themselves in a similar situation. 

@samantha.barker8 Comments are turned off because there’s a lot of negativity and assumptions being made. I don’t want anyone in a similar situation to read these comments and feel like it’s their fault or they did something wrong. My page is about supporting and empowering others, and does not reflect the content of these comments. YES I GOT AN INSPECTION Forgot to mention the 15k loan for down payment assistance, plus the 30k I’ve spent from my savings. So yeah, not having a good time but feeling good about getting myself put of it 🙌🏻 #moneytok #wealth #moneychallenge #moneymindset #savingmoney #makingmoney ♬ original sound – Sam Barker

Barker appears to have created her TikTok account to document the process of getting herself out of debt. Her first post from April 5, 2024, lays out her situation and her plans to make additional income. 

She’s not alone. Hidden costs for homebuyers are a trap door many don’t anticipate until it’s too late. Per Orchard, this can include HOA fees, escrow, property taxes, utilities, closing costs for various inspections, moving costs, lender costs. But the big wild card, Barker makes clear, is getting into a house that comes with must-do, foundational repairs that can’t be put off. It can be a perfect storm even for prepared buyers like Barker.

And even if not, as Compass Bank notes, exterior repairs can be overwhelming: Tree maintenance, driveway fixes, pest control, windows, security, and any number of trap door “emergency costs.” It’s why 77% of American homes are in debt.

The Daily Dot reached out to Barker via TikTok direct message for further information. 

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*First Published: Apr 14, 2024, 12:00 pm CDT