Post # 1
I was 26 and my (now ex-) huband had just started his first “real” job out of grad school a few months earlier. I didn’t think of that as “too young,” (iin fact, I felt somewhat old for a first-time buyer), but I remember being ignored or outright patronized by some real estate agents, even though we’d been pre-approved for much more than we were looking to borrow and had a ten percent down payment just waiting in the bank. It probably didn’t help that at 26, I looked about 16!
The reason I’m asking is because a 20-something friend recently told me that no one she knows that is her age owns their own home, which surprised me. I realize part of it may be due to the fact that it is harder to borrow now than in the past, but real estate prices (at least in my area) are pretty low as are interest rates. Is that typical? At what age do most people buy their first home?
Post # 3
My husband (then BF) and I bought our first condo at 21. I think we’re probably in the minority, though; most of the people we went to college with haven’t bought a home yet (or gotten married, or had kids, …).
Post # 4
We bought our first home when I was 19 and he was 20. Back then we were the only ones we knew who bought but here in AL, a lot of people buy right out of college.
Post # 5
Haha I’m 23 and we are NOWHERE CLOSE to buying our own home. 🙂
There are a few people with whom I graduated from high school that have their own homes, though. We just aren’t financially ready for a huge investment like that.
Post # 6
I bought my first home when I was 23. I was single too! I was in my second year of teaching and I didn’t care for the apartment life. Most of my colleagues were buying homes as we had steady incomes. Most of my friends outside of teaching didn’t buy homes until years later.
Post # 7
I was 25 and only had one other friend my age that owned a home. In the MA area its nearly impossible to afford anything at such a young age.
Post # 8
I bought my first home with my lovely fiance at 25 and 11 months. We had only been together 10 months the day we moved in, but we both wanted to buy and we were pretty sure by then that it was a “forever” relationship.
Post # 9
I was 27 when I bought my first property, a condo in DC. Fiance and I had just started dating. Now, 6 years later we are under contract for our first house.
Post # 10
I was 32 and he was 31 and we’d been married very nearly a year when we bought our first home. We felt like the last of my friends and the first of his friends to buy a home.
Post # 11
I was either 23 or 24 and single. It was a corporate relo so it was a no brainer. Now on my third house at 29, this one I purchased with my hubby, but he was boyfriend at the time. Big risk that worked out as I hoped and we planned it would to purchase a home together before engagement or marriage.
Post # 12
I was 21 when I bought my own house. At age of 31 I finaly found the one I was still missing ;). At age 32 sold my house and moved in with my bf.
Post # 13
We just bought our house last year. I am 27. Most of my friends do not own homes, but my best friend bought a townhouse with her sister when she was 19. I’m always impressed by those who buy real estate very young, but I would think most people wouldn’t be ready at that age. I don’t just mean financially- it’s a big commitment and if you’re not willing to stay in the house awhile you could lose a lot of money. The same friend who bought the townhouse sold it at 21 and bought her her own place a few years later at 23- and then the real estate market crashed. She was upside down in a place she grew to despise. Her first house she sold at a slight profit but after real estate fees and other selling costs she ended up in the hole (not more than if she had been renting all this time, but had she waited awhile longer she might have actually made money).
Post # 14
My SO bought our home 2 1/2 years ago, and he was 22 at the time. A lot of our friends our age are also buying. It’s soo much cheaper than renting. Our mortgage for a 3 story, 2 bedroom, townhome is several hundred dollars cheaper (with county taxes and insurance calculated in) a month than some of our friends pay to RENT a one bedroom apartment.
Post # 15
I am 32 and Fiance is 33…neither of us have purchased a house yet. I moved around the country for all of my 20s never settling down. Fiance stayed at home to help his parents out. Currently we are house-sitting for several years, so we are able to save away.
Post # 16
@NoaMarijn: ps – you’re getting married on my birthday 🙂 It’s soo close!!