Buying a house at age 21?

Question

I'm 21 years old and I'm looking to move out on my own, I was looking into two lofts, but I dont think its rent to own. And even if it was Rent to own, the rent is $5500 for one and the other one is $8500 a month, the two lofts are AMAZING,.here's the two loft, you can view it to get the idea:

http://newyork.craigslist.org/brk/fee/290473427.html

http://newyork.craigslist.org/brk/nfb/278616712.html

Question 1:Is it worth the money if it is Rent to own?

Question 2: Am I too young to purchase a house? I'm a Full time Hair Stylist/Makeup Artist and a part-time Student, I always thought when I'm ready to purchase a house, it will be around the time when I'm ready to start a family. I'm in a 2 year relationship, but this is not about US, it's for ME, I will be the only one living here at 21 yrs old, I'm not ready to live with my BF. I can always get a basic 1 or 2 bdrms apt, but I have 2 puppies and I'm also into the hobby of Koi Keeping, which eventually I plan to build an pond

Basically, I'm involved in alot of activities and hobbies, and owning a house will give me the space that I need, But Am I too young? Any advice ?

Even though the lofts have everything a girl would want, but Owning a house is an Investment, not renting a apartment.. What do you think?

Genius: lol

Tumbling: So tell me, what is my salary?

For the few people who answered my question...thanx you!!! For the rest: If the rent was a problem for me, I wouldnt be looking at the 2 lofts, My question is: Is it Worth it or should I just looking into buying a house?

To the 6th person: Poor Little boy, were you trying to insult me? If so, you really need to come better than that. Someone like yourself could NEVER offend me, I'm actually very disappointed in myself for even replying to someone like you, because your nothing but a worthless piece of sh*t, and a waste of DNA..LOL, now run along..go ahead....shoooo !!!

Answer 1

If you can afford your own home, doesnt matter how old you are, just do it. Why pay someone elses mortgage for them by renting?. I say, if you got the money go for it. Good for you. Good Luck.

Answer 2

Answer 2 first: Age has nothing to do with buying a house/home. The only problem might be credit with, only having 3 years to establish it.

Answer to 1: Man New York is expensive, if you can afford that kind of rent/rent to own. How much do hair stylist make, and if they make that much how can anyone afford to get their hair done! sorry off topic. You would need to look at a lot of adds and visit a lot of places to get a feel. Before i bought my house i spent months looking at 30 or more places before I started really looking just to get a feel for the market, I knew what should cost what.

Answer 3

My advice to you would be to rent a cheap apartment and save up your money for a while. If you can afford thse lofts, you must make good money. save it up for a nice down payment on a house a few years down the road. If you maintain a steady income for a couple of years, you should be able to get a morgage with a nice interest rate and have instant equity from the money you put down.

I would stay away from the rent to own thing. Too much can go wrong.

Answer 4

you are never too young to own a home.. if you have the funds go for it! Now i dont know too much about renting to own but if they are not out right selling it i would probably assume they make more money off it when you rent to own... not totally sure but there would be no reason to do it unless the seller benefits from it..
if you can buy go and do it! You are investing in your future, when you rent and apartment you are just throwing away your money and you have nothing in the end.. atleast you would own the home and make a profit off it in the end..

I found a cool site online with some home buying tips, hope it helps
http://www.deedeehomes.com/PageManager/Default.aspx/PageID=1980119

Good Luck!

Answer 5

No, the guy you're today won't be the guy you're 5 to 2 decades from now. As you mature your likes and dislikes could substitute. procuring a house is a surprising thank you to construct your credit background. outstanding. in case you and the different person determine to area techniques 0.5 of the living house belongs to him/her. in case you area amicably, good. yet, if it is going to become unfavorable and drawn out, it is going to result your credit-late money, no money, etc. that result your credit background. a house is a extreme investment. sit down with the different person and write out your expectancies so some distance as possessing the living house and the dating. this supply you an excellent concept of what's going to or won't ensue and exhibits you techniques the different person perspectives homeownership.

Answer 6

Rent to own property is very hard to come by. Regardless of that, You would have to be doing beyond very well to afford those places. I would think a VP of a well established fortune 500 company might be able to afford them.

Answer 7

You can't afford these places on your salary. Try Bed Sty.

Answer 8

i went to the website
that is the rental price
and they will get it
it does not say they will sell it..
your looking in a "rental section"

if you want to buy..you search in "for sale"

good luck......

Answer 9

I'm ready to move in with you...as long as you're paying!