How Old Were You When You Purchased Your First Home? - Page 2

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[ARCHIVED THREAD] - How Old Were You When You Purchased Your First Home? (Page 2 of 4)

Posted: 2/7/2022 8:31:32 PM EST

[#1]

Paid $62k for my first house in 1995, El Paso TX. 4 bed/2.5 bath on the west side in a nice neighborhood.

I still miss that house, it was perfect for my young family at the time.

Posted: 2/7/2022 8:33:43 PM EST

[#2]

23 when I built my first house, started building my second at 49.

Posted: 2/7/2022 8:34:27 PM EST

[#3]

18 when I went to contract 19 when I closed.

House was 23,990.00 brand new. Three bedroom ranch, no garage, no basement. Federally subsidized Farmers home loan.

Sold it three years later and bought my second house.

Posted: 2/7/2022 8:34:30 PM EST

[#4]

I built, not bought, my home at 24. I was born, raised, and raised my two sons here on this land, and GOD willing, I'll die here as well.

Posted: 2/7/2022 8:35:12 PM EST

[#5]

24. I worked a full time job and then delivered a morning paper route of 300 papers daily to put together a down payment.

Posted: 2/7/2022 8:35:32 PM EST

[#6]

Poll fail. 18

Posted: 2/7/2022 8:36:07 PM EST

[#7]

20 but it was a rental in Houston. In the end I was lucky to break even. Scumbags skipping on rent and stealing permanent fixtures from the house.
You have to be a real scumbag to steal the rugs.

Posted: 2/7/2022 8:36:43 PM EST

[#8]

24 years young

Posted: 2/7/2022 8:38:16 PM EST

[#9]

33. I’d just gotten out of the army.

Posted: 2/7/2022 8:38:34 PM EST

[#10]

Still waiting due to politicians fucking everything back in 2008

Posted: 2/7/2022 8:39:48 PM EST

[#11]

38 and still haven't purchased. I was stupid with my money in my 20s and got married, divorced, banged strangers and bought motorcycles and guns instead of being smart and getting a house after the 2008 disasters. Now I'm forced to wait for another downturn since house prices in TX are fucking wild. Luckily I've had a nice townhouse rental that hasn't gotten pricey but I know I'm wasting money renting.

Posted: 2/7/2022 8:40:23 PM EST

[#12]

38, using the GI bill. Used it 3 more times as life went by, retired with everything paid off and no mortgage after moving 6 times.

I’d do it again.

Posted: 2/7/2022 8:41:10 PM EST

[#13]

Does it count if you didn't live there?

Posted: 2/7/2022 8:41:12 PM EST

[#14]

'77, I was 27. GI loan, 1700$ to get in. Less than ten years later sold for 1.5. I was in Idaho at that time making 47$/wk. Fair trade, you decide.

Posted: 2/7/2022 8:41:24 PM EST

[#15]

34. took a long time to save up and be able to afford living where I wanted to.

Posted: 2/7/2022 8:42:11 PM EST

[#16]

homeless from 12-18, everything I owned fit into a jansport backpack when I graduated high school. Bought my first house at 22

Posted: 2/7/2022 8:43:00 PM EST

[#17]

28, my grandmother passed, her children didn’t want any of the responsibility of it. I paid off both her mortgages, and a massive amount of her other debt. It’s the only reason my wife and I(no children except her grown son who lives a few cities West) have a 5 bedroom house instead of something more our size.

Posted: 2/7/2022 8:43:12 PM EST

[#18]

I was 29. I got "stuck" in the convenience with roommates for probably 6 years. There was 4 of us in a good size 2 story house and rent/utilities were $400 or $450 a month. Making decent $ but I was just living the good life and blowing it on dumb shit. Right when I met my now wife, I was talking about looking for a house. Her step dad was a realtor (a good 1, not a side gig type) and in 6 months I had a house. Bought it for 90k right after the crash and sold it for 290k 1.5 years ago.

Posted: 2/7/2022 8:51:36 PM EST

[#19]

it'd be much more relevant including the year.

im about average for GD at 16. all from my own hard work in the coal mine. 180 hour weeks with no days off ever. kids these days have no work ethic. unrelated, that year family member died and left me a big chunk of equity. kids are just lazy today.

by myself it was early twenties, in early 2010s.

Posted: 2/7/2022 8:53:48 PM EST

[#20]

Quote History

Quoted:
38 and still haven't purchased. I was stupid with my money in my 20s and got married, divorced, banged strangers and bought motorcycles and guns instead of being smart and getting a house after the 2008 disasters. Now I'm forced to wait for another downturn since house prices in TX are fucking wild. Luckily I've had a nice townhouse rental that hasn't gotten pricey but I know I'm wasting money renting.

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Hang in there brother, your day will come!

Put cash away however, wherever you can. Good luck!

Posted: 2/7/2022 8:54:34 PM EST

[#21]

Quote History

Quoted:
Does it count if you didn't live there?

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Yes, primary residence.

Posted: 2/7/2022 8:55:20 PM EST

[#22]

Quote History

Quoted:
homeless from 12-18, everything I owned fit into a jansport backpack when I graduated high school. Bought my first house at 22

View Quote

Go on.

Posted: 2/7/2022 8:58:32 PM EST

[#23]

I was 19, but choose the youngest option AND I was in California at the time.

I graduated high school a year early and the day I turned 18 went to work on drilling rigs and by 19 was offshore grossing about 80k a year, in 2001 dollars.

Buying the house was brilliant. Getting married soon after was not. Someone should have put their foot in my ass and stopped me.

Posted: 2/7/2022 8:59:22 PM EST

[#24]

19 and I am millennial.

Posted: 2/7/2022 9:02:23 PM EST

[#25]

Quote History

Quoted:
19 and I am millennial.

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Elaborate please

Posted: 2/7/2022 9:05:34 PM EST

[#26]

25 in 2012.

Posted: 2/7/2022 9:07:04 PM EST

[#27]

22 and had a note at 8.5% 1987. Borrowed $42,000. On the way home looked at wife and said “were ruined, never get it paid for”

Posted: 2/7/2022 9:07:05 PM EST

[#28]

32.

Posted: 2/7/2022 9:07:06 PM EST

[#29]

22.

Posted: 2/7/2022 9:07:59 PM EST

[#30]

Quote History

Quoted:
23 when I built my first house, started building my second at 49.

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31

Posted: 2/7/2022 9:08:49 PM EST

[#31]

25 years old

ETA: built my second house at 38

Posted: 2/7/2022 9:09:18 PM EST

[#32]

(20)...

Posted: 2/7/2022 9:10:16 PM EST

[#33]

Quote History

Quoted:

Yes, primary residence.

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I was buying houses way before I decided to live in one of them.

Posted: 2/7/2022 9:10:31 PM EST

[#34]

Quote History

Quoted:
22 and had a note at 8.5% 1987. Borrowed $42,000. On the way home looked at wife and said “were ruined, never get it paid for”

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Still married?

Posted: 2/7/2022 9:11:17 PM EST

[#35]

Quote History

Quoted:

Kudos brother, how did you manage that?

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Quote History

Quoted:

Quoted:
Nineteen

Kudos brother, how did you manage that?

Bought a $3500 mobile home my sophomore year in college and rented the front bedroom to two of my friends. I sold it a few years later for $6000 to make the down payment on my first real home. This was in 1982.

Posted: 2/7/2022 9:11:25 PM EST

[#36]

Went under contract last year a week before my 22nd birthday. Lived with my folks until then and saved the overwhelming majority of every paycheck for a couple years to make the down payment.

Posted: 2/7/2022 9:20:05 PM EST

[#37]

23.

Posted: 2/7/2022 9:22:11 PM EST

[#38]

Bought a 2 unit apartment building at 23.

Posted: 2/7/2022 9:23:47 PM EST

[#39]

I tried to purchase one in my late 20's. I had 20% down payment and net assets were excess of the value of the house - but my wages did not hit the number they wanted (I had a roommate at the time). I needed my parents to cosign. It all looked great, but there was an unanticipated problem. I was in Austin and I really have no clue on how I found my realtor anymore. But 10 years earlier and almost 100 miles away, his father had fucked over my father - and that was that. My father was rarely angry, but he had a 10 year grudge and hell would freeze over before he would do anything with that realtor.

So I ended up purchasing an even less expensive house when I was 32. Second house when I was about 36, and third when I was about 40. A clerical error destroyed my credit rating on the third one - the ratings company had me listed as dead. I took a signature loan at a local bank, and collateralized it with a deposit in the bank in excess of the loan amount (I made good money on the sale of the third house, and was purchasing a cheaper house), but I wanted liquidity.

Should be doing the last house this year. It will be cash. I have virtually no reason to want to take a loan anymore. That said, I am retired, so not even sure if I could get a loan anyway.

Posted: 2/7/2022 9:23:49 PM EST

[#40]

Quote History

Quoted:

Still married?

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Quote History

Quoted:

Quoted:
22 and had a note at 8.5% 1987. Borrowed $42,000. On the way home looked at wife and said “were ruined, never get it paid for”

Still married?

Yep.....35 years I'm a lucky man

Posted: 2/7/2022 9:25:42 PM EST

[#41]

28 in San Diego. was $325k.

Posted: 2/7/2022 9:26:15 PM EST

[#42]

Quote History

Quoted:
Bought a 2 unit apartment building at 23.

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I had 8 units. Not at 23. But selling them was one of the best things I ever did.

Posted: 2/7/2022 9:27:22 PM EST

[#43]

34, because I wasn't able to sooner.

Posted: 2/7/2022 9:31:54 PM EST

[#44]

It was so long ago I don't remember.

Late 20's, or maybe I was barely 30, IDK. It was paid for in my late 40's though.

Posted: 2/7/2022 9:32:04 PM EST

[#45]

Much context missing.

Posted: 2/7/2022 9:32:43 PM EST

[#46]

18 years old and bought a wooden triplex in Hollywood,Fl.and I paid $18,500.00 ,but that was 1970 @. 12.5% interest

Posted: 2/7/2022 9:33:14 PM EST

[#47]

28.

Posted: 2/7/2022 9:34:18 PM EST

[#48]

Quote History

Quoted:

Go on.

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Quote History

Quoted:

Quoted:
homeless from 12-18, everything I owned fit into a jansport backpack when I graduated high school. Bought my first house at 22

Go on.

Very simple really, work your ass off and don't repeat costly mistakes. Eating out of garbage cans , starving at other times it will motivate you in ways you can't understand until you live that hell. I've been self employed most of my adult life, there has been times when I worked 7 days a week for 3-4 months straight. Hard physical work, but it has afforded me a great life.