Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Real Estate
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 12-07-2020, 06:32 PM
 
Location: northern New England
5,453 posts, read 4,058,826 times
Reputation: 21329

Advertisements

moved out at 20, bought first house (with soon to be husband) at 24. We both saved up for a year before buying it.
__________________
Moderator posts will always be Red and can only be discussed via Direct Message.
C-D Home page, TOS (Terms of Service), How to Search, FAQ's, Posting Guide
Reply With Quote Quick reply to this message

 
Old 12-07-2020, 08:03 PM
 
Location: TEXAS
3,831 posts, read 1,386,018 times
Reputation: 2020
on my own at 19, self employed at 22, and bought 1st home at 25, solo.
sold it for double 6yrs later;
did the same with 2nd home (w/acreage) - sold for double 12yrs later.
One I'm in now has a LOTTA acreage - in it 5yrs and already worth double (land is skyrocketing!).
All because I had $5000 to put down to get into the first house (small fixer) - never wasted a dime on rent past 24yo.
Reply With Quote Quick reply to this message
 
Old 12-07-2020, 08:28 PM
 
Location: Long Island
9,933 posts, read 23,163,762 times
Reputation: 5910
At 25, put down 48% of purchase price.
Reply With Quote Quick reply to this message
 
Old 12-07-2020, 08:30 PM
 
Location: Buffalo, NY
3,580 posts, read 3,082,791 times
Reputation: 9800
25 and recently married.

70k fixer-upper, 10% down, 30-year 12% interest rate - I knew some paying 16%. Sold it 3 years later for 90k. Today its worth 700k (500k is land value).
Reply With Quote Quick reply to this message
 
Old 12-07-2020, 09:07 PM
 
2,117 posts, read 1,325,176 times
Reputation: 6035
I was on my own at 19. I bought the first house with my husband at 30.

I notice so many people on here were on their own at 16 – 20, and they bought their first house at 22 - 35. I wonder if most of these people are "Boomers". I am.

I see so many of the younger ones now are still living with their parents at 25 - 30 something. One of my children is very responsible and independent. He was on his own at 18, away for university. He was working during high school and every summer during university. When he graduated, he moved back with us, and moved out at 25 (3 years ago). Now, I told him I could give him some money for a down payment, not full though, to buy a starter home or a condo, or an apartment, but he said no. He does not want to buy a house yet because of the uncertainty of employment nowadays. Today you have a job, tomorrow you have none. It's scary to have a house and mortgage when you don't have a job.

I wonder if my son is alone in thinking like this, not wanting to buy a house when his parents offer to help, or there are many younger people are thinking the same?

I told him when you rent, you throw money away. When you buy a house, you pay mortgage, and eventually the house is paid off and it's yours. He still says no. I see he has a good reason. Except for those who have a lot of money and don't have to worry about anything, I wonder if the younger people are thinking smarter than we are about not to buy a house/condo/apartment in the current situation in the world? Or vice versa?

Last edited by AnOrdinaryCitizen; 12-07-2020 at 09:28 PM..
Reply With Quote Quick reply to this message
 
Old 12-08-2020, 04:58 AM
 
Location: Mount Airy, Maryland
16,283 posts, read 10,424,652 times
Reputation: 27604
I am a late Boomer (1959 birth) and bought my first home at 31.
Reply With Quote Quick reply to this message
 
Old 12-08-2020, 05:27 AM
 
9,470 posts, read 9,377,957 times
Reputation: 8178
Bought my first house at age 22. Got an FHA loan.
Reply With Quote Quick reply to this message
 
Old 12-08-2020, 06:11 AM
 
4,347 posts, read 4,724,159 times
Reputation: 7439
Moved out to college at 19 and bought my first house at 54.
Reply With Quote Quick reply to this message
 
Old 12-08-2020, 07:25 AM
 
Location: Madison, NJ
453 posts, read 345,694 times
Reputation: 1145
I was 24 when my boyfriend at the time (now husband) bought our current home. He was 25. Last year when I was 29, we closed on our second property.
Reply With Quote Quick reply to this message
 
Old 12-08-2020, 01:13 PM
 
1,526 posts, read 1,185,396 times
Reputation: 3199
Was on my own in college, from 18-22. Moved out of parents' house for good after college (so, 22). Rented until I bought at 31. I am now on my second house, with my husband.

Last edited by Flyers Girl; 12-08-2020 at 01:26 PM..
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Real Estate

All times are GMT -6. The time now is 03:55 PM.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top