Thread: At what age did you buy your first house?
"First" house lel.....good one. Ain't nobody buying another house again.
First condo at 22 (almost 23). Traded up to a house almost exactly 10 years later. Turning 40 next month. Funny to think I may have more years behind me than ahead. Not sure which of those outcomes to hope for. I guess it's cool if I can be a totally sharp and fit 80 year old like Joe Biden.
Yeah bought my house 3 years ago for 210k at 3.375% interest. Last I checked, it's valued like around 260k or something stupid and interest is what, near 7%? Lol like anyone would buy it if I even tried to sell.
So are your children little sheds?
30, but picked the wrong option and can't change my vote. We wanted to buy a house earlier, but it didn't work out. Which was a good thing, because our house is great and it's in the best part of the city, value already increased significantly.
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Thread title: at what age did you buy your first house.
Chozofication
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I think youd be shocked. People want houses. The real question is where youd move to, and how much more debt youre willing to incur
Chozofication
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Nope high school graduate, i make relatively low wages but I live in a cheap red state and am very good at budgeting.That's actually impressive. You must be a doctor
Also in case it wasn't clear I sold my first 2 houses lol made good profit on each though.
I've never understood "profit" from selling houses as you're just buying again and presumably paying that much more for the money you gained selling. Unless you hop states I guess, unless I'm missing something.
Wanting and affording are separate realities. I heard kids are pooling their money together to buy a house and living 3-4 people in the house. It's the only way they can pull it off.
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Chozofication
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Yep like I got 40k profit from my last sale and I just put most of it in the market and made the minimum down payment for the next mortgage.
Now I know that might seem counter productive, but for someone will low income it would absolutely suck to have to get my net worth (liquid assets) back up on mostly income.
If I were actually a doctor I would be paying off these houses more. Also my current home isn't my forever home either but im aiming for the next one to be.
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Idk how people muster up the energy to move as much as they do
Thats a lot of packing and unpacking
Thats a lot of packing and unpacking
Oh it is. Can attest. Though I actually got lucky with my one roomate. We mostly got along, though a year or so in he started pissing me off neglecting cleaning and smoking now inside the apartment constantly like a chimney when it's supposed to be non smoking. The first clue i should've had was he asked to be MY roommate and before I could get there in time the day of to sign the lease, he signed it first and made me co-sign. And he tried to hang that over my head any argument we had that he was the main guy on the lease. But anyway, I deployed and had to cut the lease short and he was on his own. We remained friends on Facebook until we had a brief discussion about election fraud where he absolutely melted down and said if I believed any election fraud existed, I was retarded and he defriended me. Btw this is circa 2013ish lmao.
But...why wouldn't you put it towards the next mortgage, thus lowering your monthly payments, thus increasing savings to stick into the market every paycheck?
If you think you can get a higher percentage return in the market than you're paying as a mortgage interest rate, his way could make sense.
Make sure you're sitting down... we lost $102.5k on our condo when we turned around and bought our current house. Long story, but this was in fact the least bad option at the time. Short version, we bought at the peak of the real estate bubble, in an up and coming area for development... after the bubble popped all that development stagnated. It only finally just in 2023/2024 got to the point they originally planned to have it at in 2010. And around the same time the (zillow) value only just surpassed what we originally paid. But could we have held on for seven more years to avoid that big loss? No, this wasn't feasible for reasons I'd need a few large paragraphs to fully flesh out.
On the plus side, we bought our current house for $360k, and zillow now shows it at an estimated over $650k. And I'm confident if we did sell we could in fact easily get at least $600k no sweat based on current market activity around here. But we're locked in at 3% with no plans of leaving any time soon.
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I work like 60 hours a week dude and stay in a nice quiet neighborhood
No reason to move
Tay, you really shouldn't let your dad share your D-Pad account.
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Yeah If it weren't for the grant money they gave us we would have gone elsewhere. She felt bad about not getting a better rate and some other things so she ended up paying for my closing costs.
Damn! When we refinanced to 3% in 2020 (on a 25 year loan) had the option of 2.25% on a 15 year loan. MUCH higher monthly payment, but in hindsight I'm kicking myself a little bit especially after getting a big raise last year at work. But that could not necessarily have been anticipated. Still not in a bad spot all in all.
In Canindia you refinance up to 5 years on a 25 year term. I bought during the pandemic panic where rates were the lowest.
