(Closed) How old were you when you bought your first home?

posted 8 years ago in Home
Post # 77
Member
2950 posts
Sugar bee
  • Wedding: May 2011

23 and 25

Post # 78
Member
5495 posts
Bee Keeper
  • Wedding: September 2010

@brideatbeach: Darling Husband has been with Kroger for a few years now, so he is topped out in his position (just short of $17/Hr). I just got promoted to supervisor, so while I still make less than him, it’s a pretty good cushion. The houses here are REALLY cheap. Seriously. We pay $680 in rent. With Mortgage, insurance, and taxes we are only paying around $100 more than we are right now. We bought our house super cheap ($95,000) and it will need minamal repairs, just a few minor upgrades. We can afford it because we got really lucky. =  )

Post # 79
Member
367 posts
Helper bee
  • Wedding: July 2010

@Neva: I’m 23 & My Darling Husband is 29..we’re homeowners:) We were blessed though to find it and be ready. I thank God

Post # 80
Member
920 posts
Busy bee
  • Wedding: September 2011

technically we havent bought our house but we close on our house the 25th. im going to be 24 in november.

Post # 81
Member
1361 posts
Bumble bee
  • Wedding: April 2011

20.  I don’t think I was too young at all.

PS you should add a poll!

Post # 82
Member
2702 posts
Sugar bee
  • Wedding: November 2011

Fiance was 23 and I was 21. It was such an awesome deal, we couldn’t pass it up!

Post # 83
Member
2702 posts
Sugar bee
  • Wedding: November 2011

@brideatbeach: Our house is a three bedroom house with a huge yard. We bought it for $75K which is really cheap. I live in a very affordable city so housing really isn’t that bad. Our mortgage is less than most rents. We still have student loans and car payments, but we make it work! We simply don’t live an expensive lifestyle…so that helps a lot!

If I wasn’t with Fiance there is no way in hell I could afford a house. Fiance makes double what I make so I’m very lucky in that respect.

Post # 84
Member
11 posts
Newbee
  • Wedding: September 2012

I was 25 and he was 24. We were both finished university and I had just started my first “real” job. Several of our friends had recently bought houses at the same age so it didn’t feel out of the ordinary. That being said, I also have many many friends my age now (27) who are still very happy in their apartments! Sometimes I think renting and not having to worry about all the extra house stuff would be a welcome change. I’d love to own a condo downtown someday, but my job is out in the boonies so I don’t know if that can ever happen!

Post # 85
Member
1137 posts
Bumble bee
  • Wedding: September 2010

I was 23. I bought a 3 bedroom house and rented 2 bedrooms out. The rent covered my mortgage payments and I pocked an additional $300/month.

I saved the money I would have been paying for rent/mortgage and bought a foreclosure at age 25 which became my first investment property.

Darling Husband and I bought our house at age 27 and I kept my first house as my 2nd investment property. I save all of the proceeds from both rentals to build up another down payment.

At 29, I just had an offer accepted on a foreclosure to become my 3rd investment property.

So at 29, I will own 4 houses. My family/friends call me Mrs. Trump.

 

 

Post # 86
Member
3521 posts
Sugar bee
  • Wedding: December 2010

I’m 22, Darling Husband is 23, and I’m pretty sure it’s going to be at least five years or so before we’ll have the cash to buy our first home. 

Post # 87
Member
13095 posts
Honey Beekeeper
  • Wedding: July 2010

To the PPs who ask how someone in their young 20s can buy:

I’ve been saving money since I started working at age 14/15.  In high school, I started investing in mutual funds and a Roth IRA so that I could make more than a savings account would do for me.  I also worked part-time all through college so there was still small growth to my bank accounts then.  Now, Darling Husband and I both have good paying jobs, have been working full-time for 2 years, and have continued to save.

Honestly, you just have to make it a priority.

ETA: We’ve also calculated and we can buy a $200K home and not pay any more for mortgage, taxes, insurance, etc than we pay right now in rent.  Seems like a no-brainer to me!

Post # 88
Member
624 posts
Busy bee
  • Wedding: October 2011

Just signed in April! I was 22 and Fiance was 23. We both were saving and I had a bunch in my savings account for the down payment. It worked out well!

Post # 89
Member
311 posts
Helper bee
  • Wedding: October 2010

35

Post # 90
Member
411 posts
Helper bee
  • Wedding: September 2010

Darling Husband and I just bought our first home 3 days ago at 24. We have been saving since the wedding. Our mortage is $70 more than the one bedroom apartment we were renting. Seems like a pretty good deal to me!

Post # 91
Member
32 posts
Newbee

We were both 22. We closed on my hubby’s birthday 🙂

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