If not, what age do people usually purchase their first house?
2007-12-11 15:37:13 · 4 answers · asked by Virginia 3 in Family & Relationships ➔ Other - Family & Relationships
There is not a specific age for buying a house. A person should only buy a house when they can afford the down payment, the monthly payments, the taxes, and the up keep on it. If they can afford these things at 20, let them buy it then. Or if they have to wait till they are 40, buy it then. But they should never make a purchase like that with out being able to afford those things, no matter what the age.
2007-12-11 15:53:50 · answer #1 · answered by jenx 6 · 0⤊ 0⤋
Do not purchase you own house until you have....
1. 20% of the value in cash for a down payment.
2. A really good credit rating
3. Until you are sure you will be in one place for at least 5-10 years.
Age does not matter at all.
Good luck.
2007-12-11 15:41:41 · answer #2 · answered by box of rain 7 · 0⤊ 0⤋
I was 23 when i purchased my house. Investing is always good at any age. (I'm 24 now)
2007-12-12 04:56:07 · answer #3 · answered by Beth C 2 · 0⤊ 0⤋
its up to people's need
2007-12-12 22:30:55 · answer #4 · answered by ohthatlosers 3 · 0⤊ 0⤋