Buying a house in today's market seen unreachable for lots young buyer. If you are the lucky ones, at what age you got your first house. How did you do it?
2006-11-10 05:17:16 · 14 answers · asked by Wilson 1 in Business & Finance ➔ Renting & Real Estate
I was 20 and hubby was 28. House was way out of our reach--or so we thought. Truth is nothing comes without sacrifice! We ate mac n cheese for few years and were careful about how we spent our money.
I see people at work who are in their 40's still iving in apartments and know darned well it is because they WANT to on some level... because there is really no difference between us and them.
2006-11-10 05:24:31 · answer #1 · answered by Trust no 1 3 · 1⤊ 2⤋
I bought my first house when I was when I was 27 or 28, just before I got married. I had saved for a couple of years, and my wife had also.
I don't know how well it works in the real world, but I always thought buying a duplex would be a good way to build some equity. Buy it, rent one side, live in the other, have someone else help make half the payment. You just have to get good renters, is all.
2006-11-10 13:22:32 · answer #2 · answered by Ralfcoder 7 · 1⤊ 0⤋
Very affordable house normally does not have a good location. it depends what you are looking for? of cos financial is an issue, as long as getting a stable job, having good planning ahead, house payment by instalment should be fine. it doesn't matters about age unless the country you are living in there are some rules and regulations. otherwise, it should not be a problem getting your first house only if dont demand for very good location, renovation, etc.
2006-11-10 13:34:36 · answer #3 · answered by Janep 2 · 0⤊ 0⤋
My husband bought our house at 31- we live in San Diego and I think it really depends on WHEN & WHERE you buy- we bought last year just at the peak and now the market's dropping and we have no equity! Market trends are hard to predict but current theory is that it will drop heavily in SD until 2008-09- anyplace that is not being heavily developed (unlike San diego) will not be as affected- study market trends in your area before you do anything but it is possible!!
2006-11-10 13:27:08 · answer #4 · answered by Tara S 1 · 1⤊ 0⤋
My parents bought me a house for my graduation gift. That was at a time when the market was down and people could afford to live. If I was graduating now I dont think I'd be getting one, lol. The way things are today I dont see how anyone could afford their first home, and if they did afford it how could they afford the taxes and homeowners insur?
2006-11-10 13:20:17 · answer #5 · answered by Danielle 3 · 1⤊ 0⤋
I haven't got mine yet and I am 33. I rent a 2 bedroom flat with a garden in a converted Victorian house (high ceilings, original freeze etc, bay window, floor to ceiling windows, shutters etc) in central London for 325 quid a month... Why would I pay twice that for a shoe box in suburbia and be in debt for the rest of my days?
2006-11-10 13:28:21 · answer #6 · answered by Anonymous · 0⤊ 0⤋
at 22. I got lucky
Wife and I moved to a place where housing was reasonable and both got pretty good jobs. Fortunately got 100% financing and got in while houses were still appreciating. Like I said we got lucky.
2006-11-10 13:22:57 · answer #7 · answered by Anonymous · 1⤊ 0⤋
I was 21, I paid, 70k for it. That was several years ago. I think that there are very few places now where you can get a house for that inexpensive. That is unfortuanate, because there are still a lot of people who cannot afford more than that.
2006-11-10 13:27:14 · answer #8 · answered by Anonymous · 0⤊ 1⤋
I bought a condo the week I turned 24. It's a little more affordable (sometimes) than houses. I'm so happy I did it.
2006-11-10 13:26:21 · answer #9 · answered by Marie 2 · 1⤊ 0⤋
29 I'm now 32 and it was the best decision I have ever made. I live in Ca and I'm single so it was a stretch but it has paid massive dividends. DO IT!
2006-11-10 13:21:04 · answer #10 · answered by Anonymous · 1⤊ 0⤋