How old were you when you bought your first home?

Discussion in 'Teacher Time Out' started by Unbeknownst, Feb 19, 2010.

  1. SunnyReader

    SunnyReader Companion

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    Feb 21, 2010

    I cant believe how much houses are every where else. It makes me ill. I bought my house at 22, its a small condo on the beach, that I bought for 450,000. UGH!
     
  2. Caesar753

    Caesar753 Multitudinous

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    Feb 21, 2010

    Housing prices in some places are appalling, aren't they?

    When hoosband and I first moved to Las Vegas, we were stunned to see how much an average, modest house cost. In our hometowns, we could have gotten a modest house (on a huge plot of land) for maybe 100-150k. Out here, that house, minus the land, would have gone for 300-400k.

    Since the housing bubble has burst in this town, we've been really fortunate to see literally thousands of houses on the market in our price range. We really want to take advantage of both the low prices and the tax credit right now....We're just not sure if it's going to work out as quickly as we need it to, since we're going for a special program that takes a while.
     
  3. Beth2004

    Beth2004 Maven

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    Feb 21, 2010

    I know how you feel! I'm about 50 miles south of Boston, so houses are a little cheaper in my area, but it still makes me sick to see people getting twice the house for half (or less than half) the price of what I paid for mine.
     
  4. TeacherShelly

    TeacherShelly Aficionado

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    Feb 21, 2010

    My first condo... I was 29 and hubby was 34. It was an 1,100 sf little place and we paid $370K for it in 1999!
     
  5. TeacherShelly

    TeacherShelly Aficionado

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    Feb 21, 2010

    Oh I just looked it up on Zillow.. it sold for $500K in 2008!
     
  6. Unbeknownst

    Unbeknownst Cohort

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    Feb 22, 2010

    Dude! I'm soooooooo jealous! My wife and I day dream about being on HGTV all the time. :lol:
     
  7. silverspoon65

    silverspoon65 Enthusiast

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    Feb 22, 2010

    I will say that it is definitely a buyer's market and the $8000 stimulus money is very enticing. I have new appliances to prove it.

    What they forget to tell you is that you have to have money down. Days of 0% down on a house are long gone. You have to have 3.5% for an FHA. And the banks are afraid to lend now, so they are checking EVERY SINGLE MOVE YOU MAKE. We had a LOT of problems with the bank and being questioned about every little detail. My realtor said even though it is a buyer's market, he is having a hard time selling because the mortgage co. are being so ridiculous. We just bought and got a great deal, but just be aware that you will really earn that $8000 stimulus money...
     
  8. Unbeknownst

    Unbeknownst Cohort

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    Feb 22, 2010

    I understand where this could be really frustrating, but to be very honest, I think this should have been a requirement a loooong time ago.
     
  9. Aliceacc

    Aliceacc Multitudinous

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    Feb 22, 2010

    I agree
     
  10. smalltowngal

    smalltowngal Multitudinous

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    Feb 22, 2010

    We bought our first home 4 years ago when I was 24 and dh was 32.
     
  11. deedee

    deedee Connoisseur

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    Feb 22, 2010

    I will hopefully be 23 when I get my first home!
     
  12. MissWull

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    Feb 22, 2010

    I'm 27 and my husband is 28, and we just started looking for our first home. So hopefully it'll be bought soon, and before I turn 28 in September!! Hehe. :)
     

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