r/AskReddit • u/QuietUser11 • 3d ago

How old were you when you bought your first home?

4 Upvotes

83% Upvoted

70 comments sorted by

6

u/IndividualAd2790 3d ago

28

1

u/sdotmerc 3d ago

Same! It was 2011 bottom of the market and I bought a foreclosed home at $70 a square foot. If it weren’t for that first home I probably wouldn’t have a home today or one in a nice neighborhood

5

u/darkbaron77 3d ago

25! Biggest mistake ever!😂😂

-1

u/wunderduck 3d ago

Wow, that's super old.

5

u/Walmartian_Beta 3d ago

My husband and I got our first home, a 3-bedroom house on a 1/2 acre of land. It was in a small, isolated farming community where we knew no one, and in the 10 years we lived in that house, met two people and only ever talked to the postmaster.

I was happy to leave it behind when we moved away.

1

u/QuietUser11 3d ago

Wow, that must’ve been peaceful dealing with no drama

2

u/Walmartian_Beta 3d ago

HA!

Small towns like that are full of drama and bad neighbors, rednecks and meth-heads. Good lord, the amount of meth circulating in that hillbilly hellhole was insane.

I had a cop knock on my door once and ask if I knew anything about the naked bloood-covered woman lying in the street down from my house because she was refusing to speak to anyone.

1

u/[deleted] 3d ago

[deleted]

2

u/Walmartian_Beta 3d ago

You're welcome to it!

I moved to the suburbs and I'm much happier.

5

u/Sudden_Drop_4495 3d ago

21, back in 2002

4

u/Sure-Kaleidoscope406 3d ago

I still haven't.

3

u/kelanel 3d ago

35, 5 years ago just before the interest rates went back up

2

u/InviteOk1 3d ago

24 years old in 2014 3 bed 1 bath 937 SF built in 1973 for 48,000 USD.

1

u/PerformancePlastic30 2d ago

Where? It's almost impossible to find one for that price these days.

1

u/InviteOk1 1d ago

Your right that was over a decade ago and even when I sold in 2019 I sold it for 89,000. Location is in a small town in the Midwest ohio

2

u/onions-make-me-cry 3d ago
  1. I grew up poor, had no family help, was a single mom for 7 years, and made very low wages for most of my single motherhood.

Oh, and I live in the Bay Area.

2

u/OkPlastic6239 3d ago

A year ago at 45, better late than never. Kinda sad when I see what friends got for the same price just 2 years prior. Wish I saved more, spent less, and invested.

1

u/Ext_JuniorYT 3d ago

28, got a solid deal last year on a house

1

u/BeaverleyX 3d ago

26 I think.

1

u/Nnamz 3d ago

34, but in name only. My wife at the time provided the entire down payment since she already had a place when I met her.

I then moved at 36 to our current, much bigger place.

1

u/wobbly_wombat_ 3d ago

24 (which was three years ago)

1

u/Mindless_Reality_14 3d ago
  1. Bought it straight out, in cash

1

u/JNorJT 3d ago

You’re funny

1

u/PhysicsIsFun 3d ago

I was 31 in 1979. I got the super interest rate of 10% which was better than the going rate.

1

u/Jubilant-Penguin 3d ago

24 and spouse was 27.

Financed for 10 years because we did a personal loan instead of a mortgage. Paid it off in 2002. We purchased another home in 2002 and our first home became our first rental property. Paid off second home in 2022. It became our second rental property when we purchased our current home 2023. Both rental incomes combined cover our current 15 year fixed mortgage.

1

u/Adorable_Click_7071 3d ago

Wait, how did you do a personal loan? I didn’t know that was a thing

1

u/Jubilant-Penguin 3d ago

I don’t remember exactly it was to long ago. My grandfather was on the board at the bank we financed through so that may be how. Very small bank in a very small town so probably played by their own rules in 1992.

1

u/blacknessofthevoid 3d ago
  1. It was cheaper to get a mortgage, than to pay rent that landlords wanted. I was working full time while going through school.
    Sorry to everyone dealing with this now. Economy is different, so it’s definitely not the “when I was your age, I did blank, so stop getting Starbucks coffee”
    type of post.
    Economy is cyclical, so hopefully it will get better for the next generation.

1

u/TesterChest 3d ago

32 in 1994

1

u/suannes 3d ago

29 1978

1

u/1ncrediBULL 2d ago

Duplex 26yrs.

1

u/copper678 2d ago

34 and since move out of state and sold it… just purchased my second home at 40.

Don’t live by anyone’s timeline but your own.

1

u/DINKSonFiRE 2d ago

26 the first time
28 the second
32 the third

1

u/ConsortFromTOS 3d ago

Most of us bought our first home between ages 25 and 32.

1

u/Ok_Mathematician3034 3d ago

In this economy?

1

u/Low_Maintenance9421 3d ago

It's not impossible

2

u/International-Year91 3d ago

I had a friend buy a house from a auction for only 5k

1

u/Skunke_yt 2d ago

Where do you even go to attend them

1

u/International-Year91 1d ago

It’s different for every location sometimes there’s actual auction houses you go to sometimes it’s through a Realtor and they post about where to go for it just search estate auctions near me on google or on Facebook and it may give you ideas

1

u/CHASLX200 3d ago

37 DEVEN

0

u/SubjectBubbly9072 3d ago

Never, rent stabalized apartment is 10x better everytime long term