Your Age when you bought your First Home (apartments, credit card)

[databasegeek]

Originally Posted by War Beagle

When you apply for your mortgage, make sure you include your 2 level 90 WoW characters in the application. You might want to list any professions you have maxed as well as your raid gear. Maybe list some guildees as references. That will illustrate your diligence, reliability and goal setting

In all seriousness, I got into the process of buying my first house when I was 27. Right in the middle of that the real estate bust occurred and I lost all interest in home ownership. I think along with the bursting of the real estate bubble, there was also a popping of the home ownership myth in general. While it's certainly better to build up equity than to pay rent, a house is not truly an "investment" in terms of it being a moneymaker in the long-run. If you stay in it long enough to get it paid off, it is definitely a money saver.

The other issue people need to ask themselves is how long they will be in it. I work in a profession that requires frequent moves. After a lot of thought, it really doesn't make a lot of sense for me to buy. If I thought I would be in the same area for 10, 20 or 30 years, it would be a no-brainer. But with the economy being what it is and the lack of long-term job security now, I don't know that I could ever feel confident that I wouldn't have to move in any profession outside of a few. The other question is how well a neighborhood is going to age - Sharpstown used to be a great place at one point.

I know my opinions go well against the traditional wisdom as far as housing goes, but I think a lot of younger people will have an entirely different view of home ownership as a result of the last few years than did earlier generations.

that was epic lol.

[databasegeek]

Originally Posted by jtothemak

Ok I guess it is just me, but the OP makes a very good salary of $136k and still lives with mom. OP unless your mom needs you there supporting her and paying her bills you need to move out on your own immediately and I really hope you have no debt and tons of money saved up already pulling in that kind of coin.

At least go rent something, buy when you are ready to settle down.

Of course I take care of mom. She claims she doesn't need me to but I do so anyway. Regardless if I live with her or not I'd still pay her bills. I have no debt, paid off student loans long time ago, paid off car, credit card debit is like only a few hundred due to xmas put i will pay that off this week. I have a lot saved up for a house so I may skip a mortgage thing and just buy cash but people have been telling me I shouldn't do that. I was just googling average age of first time home buyer and couldn't find any data so I started this thread

[databasegeek]

Originally Posted by FLgirl727

Ummm..... just curious. How many years have you been living at home with that salary and driving a Honda Fit?

I'm thinking you could buy a house and pay cash for it, with all the money you've probably got socked away.

lived with mom about 5 years

honda fit about 2 years

[a_guerrajr]

it's about that time, also now is a good time before the market gets high again.
I'm not sure if you should spend all your $ on a home. I would just put a decent down payment, and keep money in your pocket.

Afterall, a house is just material, you can always let it go and keep your $ for emergencies.

[Dopo]

Originally Posted by ethanw

I was 19 and got me a "shoe box" in Koln Germany. It was so freaking small, but hey, it was my own home. I still have it and it paid itself several times through rent. One rule is to avoid renting it to Turkish people :-) Don't ask me why....

I'm still trying to figure out why of all people that I've met Turkish people seem to be the rudest people in the World.
Sorry for the off topic

[databasegeek]

Originally Posted by Dopo

I'm still trying to figure out why of all people that I've met Turkish people seem to be the rudest people in the World.
Sorry for the off topic

Probably because they won't share the recipe for Turkish Delight. Instead we have to buy the delicious treat from them.

[astrohip]

I was 24, living in an apartment. Bought a house in the Heights for $39,000. This was 1979. Two bedroom, one bath, no central air or heat. Had gas outlets in each room, that you could hook up to a space heater. The bathroom had one of those built-in wall heaters.

Sold it three years later, 1982, when I got married and we needed a bigger house. Sold it for $42,000 to a co-worker. I felt like I had made a killing, over 3K in profit in only three years!

[databasegeek]

Originally Posted by astrohip

I was 24, living in an apartment. Bought a house in the Heights for $39,000. This was 1979. Two bedroom, one bath, no central air or heat. Had gas outlets in each room, that you could hook up to a space heater. The bathroom had one of those built-in wall heaters.

Sold it three years later, 1982, when I got married and we needed a bigger house. Sold it for $42,000 to a co-worker. I felt like I had made a killing, over 3K in profit in only three years!

Shoot I wish I could buy a house in the Heights for $39K now days. It'd be perfect location for me, close to work. In 1989 I was 1 year old.

[cheryjohns]

I was 27. As a Realtor, my youngest first-time buyer client was 22 - my oldest 67.

[databasegeek]

Originally Posted by databasegeek

Shoot I wish I could buy a house in the Heights for $39K now days. It'd be perfect location for me, close to work. In 1989 I was 1 year old.

typo. 1989 = 1982