How old where you when you bought your house with cash? (pay, rates)

[Dr. Lapaglia, PhD, Esq.]

How old where you when you bought your house with cash?

I was 26.

LOVE being DEBT FREE.

No mortgage
No student loans
No credit card bills

I wish more people would get on board but debt destroys them.
People laughed at me at 18 for NOT getting into debt, going to college, or living beyond my means.
They laughed at me as I worked at Burger King full time while they took out loans to go to the local 'party school'

Today they LITERALLY live at home with their parents...

DEBT is like the new crack-cocaine...

[stan4]

Could have at 35. But we put half down and financed half - the rates are too good to be stupid about not investing and just dumping all your cash in the house.

[Dr. Lapaglia, PhD, Esq.]

Originally Posted by stan4

Could have at 35. But we put half down and financed half - the rates are too good to be stupid about not investing and just dumping all your cash in the house.

I've 'ineveted' in qutting my job shortly after I bought my house outright with cash.

That 'investment' allowed me to not be working some 9-5 right now... hardly 'stupid'...

Most peoples 'investments' are why they work a 9-5 and sit in 3 way rush-hour traffic each day... and live only for the weekends...oh retirement..one day..one day..oh the afterlife...

LIVE NOW!...

[SOON2BNSURPRISE]

So Doctor what was your secret to buying a home for cash at age 26? When I was 26 we had a car payment but I did not make the kind of money needed to buy a home in even payments. We did not have a down payment for a home. Then again where we live homes are not cheap. When I was 26 even though homes cost less they were still way out of reach for me.

What I would want to know is how much did your home cost? At age 26 my home would have cost me $180,000 if I could have bought it back then. Is that the kind of money you paid for your home? Did you save all that money while working at Burger King?

[SOON2BNSURPRISE]

Originally Posted by Dr. Lapaglia, PhD, Esq.

I've 'ineveted' in qutting my job shortly after I bought my house outright with cash.

That 'investment' allowed me to not be working some 9-5 right now... hardly 'stupid'...

Most peoples 'investments' are why they work a 9-5 and sit in 3 way rush-hour traffic each day... and live only for the weekends...oh retirement..one day..one day..oh the afterlife...

LIVE NOW!...

So now you own a home but have no job?

[Dr. Lapaglia, PhD, Esq.]

Originally Posted by SOON2BNSURPRISE

So Doctor what was your secret to buying a home for cash at age 26? When I was 26 we had a car payment but I did not make the kind of money needed to buy a home in even payments. We did not have a down payment for a home. Then again where we live homes are not cheap. When I was 26 even though homes cost less they were still way out of reach for me.

What I would want to know is how much did your home cost? At age 26 my home would have cost me $180,000 if I could have bought it back then. Is that the kind of money you paid for your home? Did you save all that money while working at Burger King?

Good question:

When I was 18 I got a full time job at burger king..crappy min wage...

From 18-21 I worked various odd/min wage jobs most people of that age range take (gas station, fast food, telemarketing etc)

By 21 I had enough 'job experience' to impress an interviewer who was hiring for a 'college level job' -- in his words he was 'sick of college kids with no experience'

I was hired at 30K, equvalent to say 60K today...

Now I had a 'college paying job' with NO STUDENT LOAN DEBT

In the time stuggling with my crappy jobs I was "FORCED" to fix my own cars to get to work...


One day I went to get into my Chevy Citation to go to burgerking for my shift. The car wouldnt start, trasnmission dead.

There were no busses to get me there. I begged my boss to fire me while I dropped the tranny myself and fixed it in 3 days...


Fast forward back to me at that 'college job' -- after 2 years I figured there had to be more than working 9-5 to life.

I quit and started rebuilding trasnmissions (a precursor to mobile mechanic)
$1000-$1,500 was the going rate, took me about 4 hours by this time.

Renting, with no debt, ficing my own cars, and other peoples cars, all my extra money went into my piggy-bank....

From 21-26 I did this, and bought a NORMAL/SMALL house with CASH... Im 34 now... I work 2 days a week... I live in CA, no debt, wife, 2 kids, old convertibles, suntanning, time, family, etc...

How you ask?

HARD HARD WORK

while MOST other people LAUGHED LAUGHED LAUGHED

"You wont get anywhere without credit..."

Oh the irony as they sit at age 30-40 in their parents basements without spouse or children paying off ENDLESS ammounts of debt....


You asked, ..so that's my story... just like grandma said "hard work DOES pay off"...


--Dr.

[glamatomic]

I was 28, DH was 25 (last year) when we bought our house with cash. It's definitely peace of mind being debt free! Mind you, we bought in an affordable market (bottom of the housing market, in an affordable area with houses selling around the $100k mark).

Like I've said before on other threads though, DH & I take a more simplistic approach to finances than others.

P.S. Part of our house payment was DH's deployment money (which we saved every penny of) but the majority was saved through living well beneath our means for 4 years to the point where we were essentially living on less than one paycheck, and pocketing the entirety of the other. Also, we had zero debt to begin with- we had always paid for our cars in cash, and I worked throughout university (back in Australia) and paid off the tuition not covered by scholarship as I went along.

[Dr. Lapaglia, PhD, Esq.]

Originally Posted by SOON2BNSURPRISE

So now you own a home but have no job?

I havent had a job since age 23... thats when I quit and went started my business...

you asked how much my house cost, cheap..how? cause it needed to be fixed up (work) I did the work myself... roofing, siding, windows, kitchen, bath, etc... but I had to WORK...

put in some WORK and the 'price' of a house, literally gets cut in half or more...

the antehesis to borrowing and credit is WORK... people borrow cause they dont want to get dirty...
get dirty and suddenly things in the world become more 'affordable' than you thought possible..

[Dr. Lapaglia, PhD, Esq.]

Originally Posted by glamatomic

I was 28, DH was 25 (last year) when we bought our house with cash. It's definitely peace of mind being debt free! Mind you, we bought in an affordable market (bottom of the housing market, in an affordable area with houses selling around the $100k mark).

Like I've said before on other threads though, DH & I take a more simplistic approach to finances than others.

P.S. Part of our house payment was DH's deployment money (which we saved every penny of) but the majority was saved through living well beneath our means for 4 years to the point where we were essentially living on less than one paycheck, and pocketing the entirety of the other. Also, we had zero debt to begin with- we had always paid for our cars in cash, and I worked throughout university (back in Australia) and paid off the tuition not covered by scholarship as I went along.

Im GLAD to hear your story!

Its good to see other people living TRULY debt-free and WITHIN their means!

The American Dream IS POSSIBLE as your exemplify... you just need WORK and DISCIPLINE (not credit and hope)

Our house is SMALL, it needed fixing, not a mcmansion by any stretch of the imagination...
small house 10 acres,

its not about your bank account, its about your suntan
its not about your wallet, its about your family
its not about the rat race, its about time...

crazy concept for people to realize that hard work can pay off...

When I was 19 fixing my own cars out of necessity I was ANGRY because I had too...

today I can work on cars in my sleep and charge somebody $150 hr labor rate...


I learned that REAL work tends to be marketable and in high demand...

glad to hear your positive dbet-free story...

small things = BIG LIFE..

[stan4]

Can't have a reasonable discussion with someone who doesn't understand the concept of strategy and finances.