25? 30 ?
2007-01-06 08:03:42 · 5 answers · asked by The Capitalist 3 in Business & Finance ➔ Renting & Real Estate
AGE IS NOT A FACTOR! Well unless you are under 18 years old and not old enough to legally enter into a binding contract. I sold houses to 18 year old first time buyers and a 78 year old first time buyer. My best advice would be to go to a Mortgage lender and ask to get qualified for the highest amount possible. It will cost you from 20 to 60 dollars for a tri merge credit report. This is not to buy a house. Take notes because they are going to tell you by your current situation (time on job, income, credit history etc) what you do or don't have. This will guide you on what you need to do and approximately how long it will take to get qualified. A credit line must be open a minimum of 6 months to a year, and a job history of 2+ years will be needed before you get credit for the income. Don't let anyone discourage you because of your age. Most of my big money Real Estate investors started by doing what it took to buy at a very young age.
good luck on your adventures,
If you are in need of a good Realtor in your area, I would be happy to refer one to you.
Michael Vogt
2007-01-06 09:35:46 · answer #1 · answered by Bestbank Real Estate 3 · 0⤊ 0⤋
The average age to buy can be anywhere in the late 20's to early thirties, however, that doesn't mean you cant purchase earlier. Depending on your financial status (and credit score), you can purchase as early as you want. Especially with the market currently, now is a great time to buy. The interest rates are low, and home sellers are more willing to give buyers a lower cost, hense, not as much of a reserve is needed for a buyer. Therefore, you can purchase a home if you are ready. It is the smartest and most beneficial purchase of your life, and the earlier the better!
2007-01-06 08:49:08 · answer #2 · answered by cheryl4785 2 · 0⤊ 0⤋
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2016-12-20 13:58:22 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Yes, it depends on your financial status, but it can also depend on how good you are at finding a good deal, and locating an investor to go in with you on the deal. My wife bought her first property at 14 years old with a partner. No, she was not on the loan, but she got all the financial benifits from the units she and her partner bought.
I do not know how old you are, but if you work the numbers right, you can purchase anytype of real estate. Or at least bring in a partner.
You can find partners everywhere if you need them. From Real Estate Investing Clubs, to Real Estate Forums. Just be sure to package the deal up so it looks very good to a potential investor.
2007-01-06 08:46:19 · answer #4 · answered by CrazyAces 2 · 0⤊ 0⤋
just depends on your financial situation.
you can buy a home at 18, as long that is what you want
2007-01-06 08:37:22 · answer #5 · answered by loanstkime 1 · 0⤊ 0⤋