How old were you when you bought your first home? And did you work extra or do anything to save for a house?

[Magosmall06]

I want to have my own place at some point. I’ve researched a bit, I am 25 turning 26 soon and I feel so behind. Just trying to get an idea on other peoples experiences

[wolfcat87]

I was about 21 for the first, maybe 23 for the second, etc. We didn't do anything extra at all. We had no plan to buy, and a friend started telling my husband how easy it is to buy a house. We didn't believe him and decided to try. A year later we bought our first house. It was super easy. For the second house, a relative died. I really wanted their house, so we scrambled to make it happen. That was a bit of a financial strain for years, but we made it work.

If you have good credit and a steady job with steady income for 2 years in a row, you'll qualify for a mortgage. In 2021 a $35,000 job qualified for a $180,000 mortgage. That probably down quite a bit due to interest rates being up, but they are already going down.

Aim for a cheap fixer upper (that you can handle yourself or can easily find a contractor for like paint and flooring that need replacing) that can build equity, then work your way up to a bigger house later. Too many people want to jump straight into a more expensive house. That's just unrealistic.

Always get the house inspected, ask the inspector questions, read the report carefully.

If you don't win on the first house, just go to the next. I bought my most recent house end of 2021. The market was CRAZY competitive. I was bidding on house after house for over a year before another bid fell through, and I got the house for an amazing $35,000 or more below what the other bidder offered! Persistence matters.

Don't be afraid to house hack and get roommates after you buy to save money on housing costs, but only if you're in a landlord friendly area. It's hell in other areas if you're unlucky.

[Magosmall06]

Thank you so much, I’ve actually started looking for a house since this post. By March, I will have the deposit ready. I viewed one today, while it was the first one I’ve seen it’s the best one on the market in my price range. I will keep looking but it ticks all the boxes.

It’s a one bedroom flat but very spacious, nice and quiet, beautiful views and comes with all of the kitchen appliances such as washing machine and cooker. Doesn’t even need decorating. I might do up the bedroom and just the kitchen counter tops. It’s a good starter and if I spruce it up a little, I could resell for a higher price when I look for a bigger place! I made an offer on it today!

[wolfcat87]

Good luck and good on you for going out and getting what you want! 😊

[douride2]

I was about 21-22 when I bought my first home.

[Redstang88]

Hoping in the next couple years. I’ll have to move first, no chance of ever owning anything here. $2-2.2 million for anything liveable and still skyrocketing

[Astarlessnightsky]

I am not if i will ever be able to afford to buy a house or even an appartment.

[jamesgoldman]

I'm the same age as you
I'm nowhere close to fathoming the idea

[Gent207-2]

I'm 31 and still don't have a home.

[LazerBean]

My husband bought ours when he was 18

[BarryLiverstone]

Was 22.