I am 18 and am in a stable relationship of 2 years and we are both on a steady income, we have been talking about buying a house. You read in papers and see on TV that now is the time for young people to get on the housing market as it is only going to get worse. Yet all i hear from people is to wait and that we're not ready. So which is it to do?
2006-09-25 03:44:06 · 23 answers · asked by hel4adz 2 in Home & Garden ➔ Other - Home & Garden
There is no perfect age, as long as you are ready and financially able there is nothing to stop you.
However, you may find you are unable to enjoy yourself as much as your other friends who don't have such a serious responsibility as a owning a house, as its not just the mortgage but all the other expenses that can often mean you dont have much disposable income.
Also remember, if you aren't married, its important to get a legal agreement drawn up to protect both your financial interests should the relationship end.
2006-09-25 04:35:17 · answer #1 · answered by yahnyinlondon 3 · 0⤊ 0⤋
Right now with the housing industry in a slump, it would probably be better to wait another year (until around this time or later in the winter next year) before buying, because prices will probably be much, much lower.
On the other hand, why buy a house? Why saddle yourself at 20 with a 30 year mortgage? Why tie yourself down to a specific place for the majority of the rest of your life? Also, maybe buying land on which you could build is better than buying already built. It really depends on the type of person you are. If you like where you live and think you'll be there all your life, then go ahead. If you think you'll travel and move around, or change your career, then maybe renting is better.
2006-09-25 10:56:28 · answer #2 · answered by Pandak 5 · 1⤊ 0⤋
Well, before getting a place I know it seems bad but the two of you should decide before hand what to do if you split up. Granted although I don't know you and hope that never happens but if you 2 can agree that you'd be civil than I say go get a house. Granted I was lucky the house came with the boyfriend but there is nothing wrong with settling down and getting a house.
Although there are other expenses involved in getting a house it is cheaper to own your own home. Not to mention you can decorate it the way you want. Can't paint walls in an apartment.
So go get you 2 love birds a house! If you feel ready then there's no need to listening to anyone else.
2006-09-25 11:15:17 · answer #3 · answered by J Greenhood 3 · 0⤊ 0⤋
I don't think 18 is too young to buy a house sooner u get on property market the better. Thank god i did when i was young cause i wouldn't be able to now that i'm full time mom. The only thing i think people are concerned with is you are in a fairly new relationship however if u never take a chance in life where is the fun xxx hope it all works out if u do xxx
2006-09-25 10:54:59 · answer #4 · answered by nicnic97365 2 · 1⤊ 0⤋
See i did it when i was 22 & it is meaning perfect for me... i got it for Rs 1.2 Million of that time & in three years property rates have gone up to more then twice & our house is now worth more then 2.5 millions in Delhi... So the sooner the better. Property always appreciates (it depends how much) but still it does, moreover everybody ahs be serious in life so the people who start it ealry are the people who are way ahead, now today when i m 25 i have a house which more then double the amount of home loan & a SUV which is worth rs 1 million so we can afford both today becoz of ealry start, steady income & proper planning....
2006-09-25 10:54:18 · answer #5 · answered by Ashish Samadhia 3 · 1⤊ 0⤋
I'm 24 and single. Defino not ready for a relationship yet. But I can't afford to get on the property ladder. But 18 is too young for a mortgage, gave it 2 years or more. But if you feel ready and know you can afford it and have some money left over for fun then go for it.
2006-09-25 10:56:33 · answer #6 · answered by Anonymous · 1⤊ 0⤋
i think you should wait, even though everyone is rushing to get on the housing market some people are also losing their property due them rushing to get on the property market. If you are both settled and you both have a steady income the best thing to probably do is to start saving together so when the time comes you have enough money to put down for a deposit
2006-09-25 10:58:16 · answer #7 · answered by Flick D 1 · 0⤊ 1⤋
My parents got married at 19 and they turned out just fine! I think you should get married. There are going to be some rough patches here and there, but you'll get through them just like everyone else. Just don't have any kids until after college and you have some money tucked away. As far as buying a house goes, you should get a 3 bedroom to start ( one for you and your wife, one for a study/office, and one for a nursery or guest room. But it all depends on what you can afford. Good luck!
2006-09-25 11:09:23 · answer #8 · answered by horsegal08 2 · 1⤊ 0⤋
Once you are an adult it is never too early to get on the property ladder, just make sure you right up an agreement about assest division should you for any reason spilt up, I know it sounds horrible but it will save you a lot of money and heartache if you do that and make it legally binding.
2006-09-25 10:53:46 · answer #9 · answered by bumbleboi 6 · 1⤊ 0⤋
I think if you feel like your ready, then you should do it. I don't think there is a right age to buy a house, I think when you know your mature enough to make an important decision like that, and when your credit is pretty good, then you should take advantage of it. Just make sure you know your putting in a good investment.
2006-09-25 10:52:43 · answer #10 · answered by miss_si6ks 2 · 1⤊ 0⤋