I am setting aside a set sum of money each week, which will accumulate to be enough for a down payment on a house in 2 years. I'll be 21. When did you get your first house? And do you think it's wise for a single 21 year old to buy her own house or keep saving until she has someone to share it with?
2007-02-20 03:56:32 · 6 answers · asked by Anonymous in Family & Relationships ➔ Family
if you can do it. do it! i moved into my first house at 20. granted, it was a rental at first and i moved in with my then boyfriend (now husband). it can be very costly though. there are a lot of things to consider.downpayment is only the first hurdel. can you afford to keep it and keep it up? best advice i can give is for you to find someone older that you know and trust who has experience in these matters who can really show you the ins and outs of homeownership.best of luck.
2007-02-20 04:19:38 · answer #1 · answered by racer 51 7 · 0⤊ 0⤋
I think real estate is still a good investment. If you are secure in a job, I think it's a good decision to buy. In some ways I wish I had, but it worked out anyway. My wife and I were 31 when we married. We rented a house for a year or so, and when we bought, we had a large down payment. Interest rates were very high in 1983 at 14%.
The down payment made it easier for us. We ended up refinancing three times and recovered costs by lower payments. I got an incentive for early retirement, and used it to pay off the house balance.
2007-02-20 12:06:41 · answer #2 · answered by brenbon1 4 · 1⤊ 0⤋
You rock!! Save and buy. I bought my first condo at 26 and the second one at 28. You are very smart to save money for this investment. Keep saving. Why wait? If someone comes along worthy of you, great!! Doesn't matter what you live in. Yes I think it's a very wise decision for you to save that money.
Don't wait for someone to come along.
2007-02-20 12:03:38 · answer #3 · answered by daughter_helping 3 · 1⤊ 0⤋
I got my own place (with a big mortgage) when I was in my early 30s and it was way overdue - I was sick of sharing!! So, if I were you I'd go for it and get a place of your own as soon as you can. Why share with others? You'll do that when you chose a guy to settle down with and have kids - in the meantime try out living on your own and enjoying your own space and time!!
I have a couple of freinds who bought in their early to mid-twenties and it's worked out really well for them as they stayed in their places for years and made money when they sold.
2007-02-20 12:02:42 · answer #4 · answered by Skidoo 7 · 0⤊ 0⤋
3 yrs ago we got our new home and I am 40 yrs old..I think you are doing great to want to buy yourself a home at your age..That is AWESOME...If you buy your home by yourself then is a relationship doesn't work out with the person you buy the with then you will have to sell the home..If you already have the home it is yours then if you find a relationship doesn't work out,out the door they go and you still have your home..
2007-02-20 12:05:56 · answer #5 · answered by charmed4412 3 · 1⤊ 0⤋
I'll share it with you.....
2007-02-20 11:59:59 · answer #6 · answered by Master Richard 3 · 0⤊ 1⤋