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is 26-27 too young to buy a house?

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my finacee(now hubby) and i were both 22 when we bought our first house... tons of responsibility, but oh so worth it!
 
Originally posted by: OS
I am 26, work as an EE. I save a fair amount of money and I get a lot of pressure from family to save the money for a house.

At the same time, I don't feel ready to own a house, it seems like a massive anchor in ones life, particularly as a financial obligation since it's not clear to me I want to be an engineer forever and it's a headache to maintain/babysit.

I'm single so I don't need one, I am comfortable renting/sharing an apartment with other people for a while.
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I'm 27, too, and my wife and I bought our first house when we were 22. It would have been a great idea had we not purchased it in an area that was exploding at such an astronomical rate that 5 years down the road, when we needed to sell it, that we were still competing with the new home builders. We bought the house we're in now about a year ago, but we had to take a small loss on the previous one.

Just make sure that you won't be strapped into the home you're buying for too long, since you never know when you might need more room. Most people would agree that in most situations, it's wise to buy a home rather than rent.
 
My wife and I plan on buying a house when we have our cars and other debt paid off...which will be when we're about 24 or 25. You're not to young.

Good luck!
 
I'm 25 I own a house. its nto an anchor, when I want to move, i'll just sell it. THe way things are going I bet i'll make a nice profit too. Think of it this way. In "most" states you can get a house for about the same payment as your average rent tipically is. But when you move out of an appartment you normally dont make a few thousand dallors.
 
You do'nt need to save much for a house if you have a good Mortgage person. Wife and I bought a house 2 months after getting married. It's 4 years this November which means I was 27. If you can afford to pay a mortgage, then get a house. Renting is just throwing your money away as you have nothing to show for it once you are done. Even buying a smaller house you still own a house...

Just find a good mortgage person that specializes in mortgages. We got two. a Mini mortgage to cover the down payment and then the big mortgage. Since the big mortgage saw we had a down payment, we had no Insurance stuff that lots of people pay. That also is just throwing money away because you have nothing to show for it.
 
Originally posted by: LolaWiz
my finacee(now hubby) and i were both 22 when we bought our first house... tons of responsibility, but oh so worth it!
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My wife and I were also both 22 when we bought our first home... :thumbsup:
 
Originally posted by: OS
I am 26, work as an EE. I save a fair amount of money and I get a lot of pressure from family to save the money for a house.

At the same time, I don't feel ready to own a house, it seems like a massive anchor in ones life, particularly as a financial obligation since it's not clear to me I want to be an engineer forever and it's a headache to maintain/babysit.

I'm single so I don't need one, I am comfortable renting/sharing an apartment with other people for a while.
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I bought a house at 23.... I dont think its too early
 
I'm in the process of buying a house right now... only 21... and I know people younger then me that also own houses already... 🙂
 
a house is a great investment, better than throwing rent down the toilet. at least with a house you get your money back when you sell
 
Originally posted by: thedarkwolf
I bought mine about 5 years ago at 24 and still single weee. Around here it makes sense since houses are cheap as dirt. I have a small but decent 2br house with a good sized fenced yard, garage, and centra air and pay $380 a month. If I were renting a similar place it would cost me $550 or so a month and it would all be going down the crapper.
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I would commit felonies to get a house that cheap. Houses around here are no less than five times that price.
 
I bought my first condo in New Jersey at 23. Sold it 2 years later for a VERY nice profit. Just be smart. It was hard paying for everything while single, but it worked out well for me...
 
i was 27 when my wife & i purchased our property. i wouldn't want to wait any longer, but i have many friends who still live at home and are in their late 20s. to each his own. i love having my own place - and actually paying towards owning it outright as opposed to renting.

i left home @ 18 so i can't really relate to people that live at home for so long.
 
sigh, I'm 23 and currently paying for both my condo and my mom's mortgage. Soo saving money for my own house one day flies out the window unless I find someone desperate for my condo 😀
 
Originally posted by: swtethan
save money, get wife, buy house together
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yeah. if you start dating and your gf/fiancee/wife doesn't like the house, you'll have to move out anyway.

it's good that you're saving up, but it's something you should pursue with the one you end up marrying.
 
I say go for a condo in a nice community. If your future wife wants to move out of it, then you can sell it and put the $ towards a nice house.
 
due to the housing bubble, i can't afford a house. It depends on what area you're in.. in 92 my parent bought their 60x100 in nyc for 280k.. a smaller house on the block was sold for 850k recently, without a drive way.. my area is just unafforable. Our house is est to be near 950k, while the house 3 blocks away are going for 1.25 mil.

I can buy 2 houses in ohio (where my cousins) live but I can only afford 1/4 - 1/2 house in NYC..

I would love to own a house 3-5 years ago when Im at 25.. but its just not possible
 
Originally posted by: OS
I am 26, work as an EE. I save a fair amount of money and I get a lot of pressure from family to save the money for a house.

At the same time, I don't feel ready to own a house, it seems like a massive anchor in ones life, particularly as a financial obligation since it's not clear to me I want to be an engineer forever and it's a headache to maintain/babysit.

I'm single so I don't need one, I am comfortable renting/sharing an apartment with other people for a while.
Click to expand...
no, it's not too young. invest rather than having that rent money fly out the window.

 
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