age when you purchased a home

So a good friend of mine is 26 and single. She has been down on herself and wants to purchase a home..I suggested she keeps renting until she is more settled. Do you think 26 is too soon to buy a home? She wants to meet someone and get married and I expressed that person may want to buy a place WITH her. Am I wrong for not being very supportive?

Tia!

Re: age when you purchased a home

I got married at 26 and we bought our first home, had I been single I think I would have bought a coop anyway, I would have been able to afford to and wouldn't have wanted to waste money on rent, she can always sell or her can move in when she meets someone.

Re: age when you purchased a home

I was 25 and my husband 23 when we bought our co-op. We bought our house when I was 27 and he was 25. I'm so glad we did what we did and wouldn't change it for the world.

I think if it's something she wants to do and is financially able to do it without any concerns, it's a great thing and I'd totally support it. I don't think age is an indicator of being able to purchase property.

When the time comes and she meets someone, they can then decide if they stay there or move out and buy something together.

age when you purchased a home

I don't think anyone should wait for the right person to come along to do anything in life - including buying a home. I think buying a home on your own is a great sign of financial stability and independence and any potential partner would view those things as positives. I would definitely be more supportive of your friend in buying a home. What if she doesn't meet someone for another 10yrs? So many things can happen - but you have to make the life you want with what you have/know right now - not based on "what ifs" or "whens" that might never happen. She should go for it! (The worst thing that happens - if you even want to call it that- is that she meets someone and her house doesn't work for them for whatever reason and she sells).

Re: age when you purchased a home

Re: age when you purchased a home

age when you purchased a home

I was 25 and DH was 27 when we bought our home. Why would she be too young?

I'd much rather buy a home than rent-renting really doesn't make much sense if you can afford to buy.

Re: age when you purchased a home

Re: age when you purchased a home

In addition to what the others have said, I would also question why you aren't feeling supportive.

Was it you who recently started a thread that you and your DH were frustrated because student loans were holding you back from buying a home?

Everyone's financial situation is different and people can afford (or not) to do different things at different times (or not) because of choice and circumstances.

With that said, personally I have a different perspective in general about being a homeowner because of all that goes into it above mortgage/taxes and I also think in general a lot of people buy into the need to own as a sign of success when that is not necessarily the case.

Even more so on LI where being a homeowner is not necessarily affordable even for a TWO income household.

I feel here it's so easy to get wrapped into what others are doing around us because we are such a Keeping up with the Joneses area.

Re: age when you purchased a home

I was 27


I think it's great that she wants an is able to purchase something. people her age are still living at home wasting their money on shoes and other nonsense

age when you purchased a home

I wish I had bought a house in my 20s. Single or not.

Re: age when you purchased a home

Re: age when you purchased a home

I was 29. I don't think age is a factor, but I do think she should really consider if she wants to be responsible for the upkeep of a home. It's very time consuming and can be a lot.

age when you purchased a home

No right age but it depends. I have friends who bought coops when single and got married a few years later...They can't sell bc it hasn't really appreciated and they can't rent bc it's against the bylaws. They want to have children but don't want to be cramped. Everyone's situation is different. There is no right answer or age. We bought when I was 25 he was 28. Rented a few years before that, enjoyed city life and banked money.

Re: age when you purchased a home

Re: age when you purchased a home

No, I dont think she should wait for "someone else." I think she needs to take care of her, do for her and if someone comes along THEN worry about it but not put it off for some currently non-existent guy. Go for it. He can move in with her, they can refi and put him on the deed, she can sell and they buy a place together. I see no need to hold of doing what she wants to do for a man....good for her for being able to stand on her own two feet at such a young age.

DH and I bought our first home when we were 26 and in about 10 years (well before 50) will be mortgage free.

Re: age when you purchased a home

Purchased first house when I was 24 and single. Met DH about 2 months after buying…he owned too - so we had a great base to start our life together.

Re: age when you purchased a home

I was 24 and DW was 25 when we bought our current house.

Re: age when you purchased a home

We were 35 - but we were living in Manhattan so buying a decent sized apartment would have been $$$ and we weren't sure that we wanted to raise kids in the city.

I was single at 26 and if I could have afforded the apartment I wanted I would have bought one in a heartbeat. I never would have thought to put my life on hold while I was waiting for a man. That's so old fashioned. Good for her!

Re: age when you purchased a home

Re: age when you purchased a home

I was 24 and DH was 25 when we bought our house. I don't think there's anything wrong with your friend buying a house as long as it's affordable for her.

ETA: As another poster said, she should definitely have an idea of how much work owning a house is before making a decision.

Message edited 7/30/2014 9:07:48 AM.

age when you purchased a home

I say if she wants to do it and she can afford it she should absolutely go for it. I still get nauseous thinking about how much money I spent on rent in just two years. To answer your question, DH and I were both 26 when we bought our house. I was actually looking to buy the house on my own (with my realtor parents' encouragement) since we were only dating about 6 months at the time. I didn't want to waste any more money on rent and DH was supportive of whatever I wanted to do whether buying it on my own or together. If your friend is down on herself then maybe a big move like buying a house would give her a confidence boost and help her be ready to meet the right person. I don't see any reason not to support her.

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If she is ready to buy a home I would certainly support her. Why should she wait for someone else to buy a home with? This is not 1950!!

Re: age when you purchased a home

I think age is a silly thing to factor in if the finances, maturity and readiness is all in place to own a home. You can have a very responsible 25 year old who would be a great homeowner just as easily as a 40 year old idiot who has no business owning a home. If she is financially independent and ready I think it's a great investment rather than wasting money on rent waiting for someone to come along. I think it's strange that you wouldn't be supportive of your friend.

Re: age when you purchased a home

I was 25 with my first home and 34 with my second...if she can do it, she should...