North Carolina woman, 27, reveals how buying her dream first home has turned into a nightmare that 'RUINED her financially' and left her 'drowning' in a staggering $50,000 of debt

A woman has revealed how the experience of buying her dream first home quickly turned into a financial nightmare that has completely drained her saving and left her 'drowning' in a whopping $50,000 worth of debt. 

Sam Barker, 27, from Durham, North Carolina, was ecstatic when she purchased a 'cute' 1940s home last summer.

But the picture-perfect property, which she admits needed plenty of renovations, soon became a disastrous 'money pit' - when almost everything that could possibly go wrong went wrong.

The problems began not long after Samantha moved in, with the TikToker explaining that she encountered a slew of issues with the property that had not been brought up during the inspection, from holes in the attic to a tree growing in its foundation. 

A woman has opened up about how buying her first home 'ruined her financially' and left her 'drowning in debt' after she was forced to pay more $50,000 in repairs

Sam Barker, from North Carolina, explained on TikTok that what she thought would be her dream home turned into a nightmare when almost everything that could go wrong went wrong

She had to take out numerous loans and cash out her retirement fund - leaving her 'eaten alive by debt' and struggling mentally.

She recently shared her story in a series of videos shared to her TikTok. 

'I went from being the most financially sound, responsible person to being eaten alive by debt,' pronounced Sam in one of her videos.

The North Carolina resident explained that she 'fell in love' with the ranch-style home 'immediately' thanks to its 'cute' appearance and 'perfect' location.

She said she knew it would 'need a ton of work' because it 'hadn't been updated in decades' and was well prepared to spend money on 'renovations' - but she never expected it to cost her this much money.

She also vowed that she did 'everything she was supposed to' before making the purchase.

'It needed a lot of cosmetic work and updates. So I kind of had an idea about what I was getting into,' she explained.

'I saved up all my money, I did a down payment assistance program so I could have more money in my pocket for renovations.'

She added that she had to take out 'three different loans' and maxed out 'three credit cards,' and she has now acquired roughly $50,000 in debt 

She also had the house inspected, and was told 'it was in great shape considering its age.'

In one of her TikToks, Sam listed every single thing that went wrong after moving in - which ranged from 'rotten' walls to 'termite damage.'

'First, the seller didn't disclose, like, anything,' she dished. 'Second, my inspector completely failed me. 

'80 per cent of the house ended up having dry rot and water damage that he didn't mention. 

'There was an entire bedroom where every single joist underneath was either termite damaged or completely rotten. 

'There was a tree growing in my foundation through my attic and a hole in my attic because there's just no sheathing. 

'All the of the electrical in the house is faulty and done poorly. The entire house is a fire hazard basically.

'My roof has a dead valley in it, so all of the water just sits there and has nowhere to go except into the house.

'And my HVAC and furnace completely went out the first week after I moved in.' 

Sam said she spent 'all of her savings and retirement' funds on trying to 'make the house livable.'

She added that she had to take out 'three different loans' and maxed out 'three credit cards,' and she has now acquired roughly $50,000 in debt.

'Before buying a house, the only debt that I had was student loans and a car payment,' she added. 'I was good to go, had my retirement saved up.'

Sam, who admitted the stress had 'done a number on her mentally,' said she was determined to 'get herself out of it.'

She said she gonna 'try different side hustles' to try to make enough money to pay off her debt and sell the house.

She explained that on top of her job as 'a scientist in the biotech industry,' she also coaches volleyball and runs an Etsy shop where she sells 3D printed fidget toys.

But even with all of those side hustles, she fears it's going to be a long time before she's even close to overcoming her debts, explaining that she earned $581 after taxes for her volleyball job during the month of March, and earned an additional $120 from Facebook marketplace, as well as $40 from Etsy. 

Still, she is refusing to allow herself to admit defeat.  

'You know what? I'm making money online and I'm gonna get myself out of it. I feel good,' she concluded. 'I feel optimistic and empowered. Follow along if you wanna see how I do it.'