Re: age when you purchased a home

Re: age when you purchased a home

We bought our first home at age 28. It was me and my boyfriend at the time, but we had been together 3.5 years already. We bought, got engaged and then married.

Buying the house first was the best decision we ever made together, besides getting married and having kids.

Re: age when you purchased a home

I was almost 31 & married, but if I could have afforded to earlier, I would have.

Since she is single, i would say go for it. the only reason I think age might come into play is if she was too young & irresponsible with money & would end up not being able to pay her mortgage, or if she was buying with someone she wasn't with for too long. I have seen that go badly.

Re: age when you purchased a home

Re: age when you purchased a home

i was 25 and DH was 24 with our first home, and I was 28 and DH 27 when we bought our 2nd.

age when you purchased a home

I was 24 when I bought - DH & I were engaged at the time - we bought our second house when I was 27. I think if I could afford, I would probably want to buy even without someone. It's so nice to buy as opposed to renting if you can afford it!

age when you purchased a home

I was 28.. My DH was 31

Re: age when you purchased a home

Age has nothing to do with it. There are people of all ages, single or married, who have no business buying houses and, on the flipside, plenty of people of all ages, single or married, who are perfectly capable of owning a home.

If she finds a home that is great for her, be a friend and support her. Not many single 26-year-olds have their shit together and can do this on their own. Its really pretty cool that this is something that can happen for her.

You can't wait around for someone to come along. You have to grab life by the balls and live.

Re: age when you purchased a home

Re: age when you purchased a home

I was 26 also, Dh and I couldn't do an apartment. We had $0 debt and some money put away for a home.
Because of the market we have some debt and live paycheck to paycheck now. My, how things have changed.

I don't regret buying this home. It was never beyond our means and we never took an ARM or anything. Just the way the economy turned out...

age when you purchased a home

Signed contracts a month before turning 21. Closed a few months after my bday. I also got married 2 week after we closed. We wanted to get our life started young. No right or wrong answer here.

Re: age when you purchased a home

i guess my answer isnt the norm, but i agree with you.

i bought my home at 33. before that i had been previously married (which was the first time i lived on my own) and then after that ended, i got an apartment. this was the REAL first time i lived on my own and it was amazing.

having an apartment gave me my own space, i grew as a person, as a woman, i leanred about real responsibility, real struggles, real sacrifices, while i still lived my single life and took care of myself as best as i could.

it took me 3 years of living on my own to really be ready to purchase a home. when i purchase my home i had been with my now dh for a few years and knew that it was a big possibility that it would be ours one day, but i knew it was for me and i did it knowing i could handle it on my own. i also knew that if it didnt work out with him, there was a possibility that with a new man i would have to sell, etc. this is a HUGE thing to consider for a woman who is purchasing her own home. im connected to this place through and through and i dont know that i could leave. lucky for me, me and my dh worked out and he loved moving in lol!

i do think there is a huge benefit for someone in their 20's to live on their own in an apartment where it doesnt have to be so permanent. i know a lot of people who are stick right now in homes that they purchased years ago as singles and cant get what they paid for it now that they want to sell for the sake of their relationship.

bottom line is, it is a huge thing to consider and i wouldnt suggest anyone rushing into it. its not about just being able to afford it.. it's what the future holds and if youd be able to walk away from it, etc.

age when you purchased a home

I was 27 and DH was 26. If she can afford it, why not!

age when you purchased a home

We purchased a co-op unit at 21 years old (2 mos after getting married. We purchased a house at 24 years old.

age when you purchased a home

I don't think age or marital status has anything to do with it. If she can afford it ( like really afford it not taking out 2 mortgages, borrowing money and then living paycheck to paycheck) and she knows that she won't wanna move any time soon, than she should go for it. At that age I moved around a lot. There is no way I would buy a home. I didn't want to be tied down or get stuck in a house like a lot of people are now. I think some people jump in to buy houses and then are way in over their heads.

Re: age when you purchased a home

Yes you are wrong IMO. As her friend, you should support her in this. I don't see what age has to do with it. She must have a job and some money to consider buying. What does it matter how "settled" she is, unless she thinks she may move in the next five years or so, I think she should buy if that's what she wants to do. I think relationship status is irrelevant.

I was 29 when we bought our first home.

Re: age when you purchased a home

Re: age when you purchased a home

I'm close with a couple and both of them own their own apartment. They are in their late 30's and at least from her POV, I know they are struggling with what to do---both want to keep their own apartment and have the other person to move in with them. It's definitely causing a strain on the relationship.

On the other hand, I've been renting in NYC for 12 years and am my FH and I are no where even close to being able to afford to buy a house or apartment. I wouldn't change the past, but I do wish we didn't spend over 3K in rent each month so we could save for a place of our own!

age when you purchased a home

I wouldn't wait for anything if I wanted it

But that being said..

Owning a home can be stressful financially .. Especially if you're on your own

Unexpected expenses .. Even finding time to do yard work (unless she hires someone) - it can be a lot of work , money ,and time to manage as a single person (make or female) - unless you have crews on standby to help out (landscapers, handy men)

It really all depends on your situation and expectations.

So I wouldn't say it's a bad idea. There's just a lot to think about..

Re: age when you purchased a home

I bought my house a few months before I got married- at 26

Re: age when you purchased a home

I was 26 and my husband was 28

If she can afford it she should go for it. Good for her.

Message edited 7/30/2014 9:13:03 AM.

Re: age when you purchased a home

age when you purchased a home

I was married and 28 when i bought my first house. looking back we never should have bought because we weren't financially ready. we got divorced and had to short sale the house. i bought my second house at 33, 6 months before i got married again. now i'm totally financially responsible for this house.

BUT that is ME. if she's got her shit together and the money i say she should do it. me personally...if i were buying something on my own id get a condo or coop so i'm not responsible for all repairs. i'm not that handy.

Re: age when you purchased a home

If she can afford it, why not??? What if she never meets "the one" and doesn't get married? If/when she does get married they can decide what to do. They could always sell her theoretical house and get a nice chunk of money to put into an even better home. They could keep it an have a nice rental property, which many people would kill for.

I really don't see any reason NOT to buy. I was seriously considering buying my own place (I had been renting) right before DH and I got engaged. He owned his own place, which he bought several years before we met. He sold it when we bought our now home, I was 29 at the time.

Re: age when you purchased a home

Purchased my first home at 26 with my boyfriend at the time. We are now married and purchasing another home after moving to another state and renting for a number of years