How old were you when you bought your first house

[studentcj]

Im hoping to own a house by the time Im 26

[retdetsgt]

I was 25. I bought one as soon as I got out of the Army.

[studentcj]

I was 25. I bought one as soon as I got out of the Army.

thanks for you input, thats something Im really focused on achieving at a young age

[retdetsgt]

thanks for you input, thats something Im really focused on achieving at a young age

The sooner the better, it's a buyer's market right now.

[Trip]

thanks for you input, thats something Im really focused on achieving at a young age

Well, studentcj, interest rates will probably never be better than they are now for you. Is this too soon to try to buy a house?

[retdetsgt]

Well, studentcj, interest rates will probably never be better than they are now for you. Is this too soon to try to buy a house?

And prices are down in a lot of areas. My house is worth about 25-30% less than it was 3 years ago.

[wisco]

I had just turned 24 and the missus was still 23.

Right on with the interest rates. We locked in @ 6.5% and refinanced down to 5.5% about 4 months later. Currently the rates in my area are looking around high 4's. If it dips down to 4.5 we'll refi again. With housing values dipping so much the little bit of equity we did build is gone anyway.

Right now in my area there are comparable houses to mine selling up to 40% less than our current mortgage. It's a damn shame.

[pac201]

I was 19, but that was a long time ago...3br and 2 full baths on 3/4 acre brick $18,300.00...

[retdetsgt]

I was 19, but that was a long time ago...3br and 2 full baths on 3/4 acre brick $18,300.00...

Yeah, I paid more for each of my last two vehicles than I did for my first two houses.....

[Safety Steve]

And prices are down in a lot of areas. My house is worth about 25-30% less than it was 3 years ago.

Ahhhhh, I did not want to hear that RDS! Were trying to sell our house in town now for the last two months. We could have sold the house 10 times now if we would owner finance.


Be Safe.

[retdetsgt]

Ahhhhh, I did not want to hear that RDS! Were trying to sell our house in town now for the last two months. We could have sold the house 10 times now if we would owner finance.

It's terrible here. There are houses on my street that have been for sale for a year or better. When the economy went south, a lot of young people here had bought houses they could barely afford on variable interest loans. When the interest went up one percent, it was immediately out of their range of affordability. They started putting the houses up for sale for less than they paid for them or got foreclosed. Now the market is glutted with them.

I had planned on selling my house about that time and buy a condo where I didn't have to do yard work, but now I'm going to stick it out. I only owe about a third of the market value and have a 5% loan so there's no rush for me. I feel sorry for people who work for organizations that transfer them to other parts of the state or country and need to sell their house. They are really stuck right now.

[Safety Steve]

Yep, I just had lunch with young man who is working on his MBA and we were talking about the same thing. I told him three things tie you down, 1) owning a house, 2) pets, 3) kids. He wants to work for a large CPA firm and travel.


Be Safe.

[studentcj]

Well, studentcj, interest rates will probably never be better than they are now for you. Is this too soon to try to buy a house?

Yes its too soon, mainly due to the I havent graduated yet, and i don't have a post college job yet, but when I do, I def. will look into it

[patchcop]

I was 33 and still live in it until now!

[retdetsgt]

I've given away three in divorces.......