neutralgamer02
Member
Yes. I mean the only way they can have their home taken away from them is if they stop paying for it, so it is their house. They are responsible for it in every way.
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Will you be a homeowner before you turn 35?
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Yes. I mean the only way they can have their home taken away from them is if they stop paying for it, so it is their house. They are responsible for it in every way.
I see. But that chance for foreclosure is still there, and it does happen all the time.
Anyway, with that cleared up, I'm really unsure whether I'll "own"
P) a home before 35. There's a lot of exploration of the world and things I want to do first before I try to settle down anywhere.seattle6418
Member
This thread is very relevant to me. I just turned 29 and i´m in the process of buying my first apartment.
It´s in a city i love, and it´s just 100 meters from the beach.
Price is 148k (brazilian Real, would be 85k in dollars).
I only had 8k for the down payment, trying to finance the rest. By this friday i will now if i got it or not.
I hope everything goes well, because it´s a good oportunity and rent is just money going down the drain.
It´s in a city i love, and it´s just 100 meters from the beach.
Price is 148k (brazilian Real, would be 85k in dollars).
I only had 8k for the down payment, trying to finance the rest. By this friday i will now if i got it or not.
I hope everything goes well, because it´s a good oportunity and rent is just money going down the drain.
Sho_Nuff82
Member
I'm 29 and I just finished school, so no. If I buy a house I want to put down at least 100k, which I'd be fortunate to do by 35 even if I land a good job in the next 6 months.
parrotbeak
Member
Not unless I get a sizable increase in my salary or get married and my wife has an income. Student loans and car payments kill me. I can't really complain too much though. I live with two coworkers, one of which owns the house. He caps the rent + bills at $650 and it is much nicer than I could afford if I bought my own place right now or was renting on my own. My brother could move in with me, but he is still living with the parents at 25 and I am 28.
I am in Oklahoma.
I am in Oklahoma.
distantmantra
Member
I bought a house in Seattle proper right after I turned 26. I'm now 30.
I built my house out of motherfucking silver bricks!!
In Terraria 
I don't think I want to be. I've spent my entire life away from the city, I want to be around culture and shit for awhile. If I could afford a place near public transit then yeah, but I'd be surprised if I could afford that before my 30s, and I still need to travel around and find where I want to live for the significant future. Oh, and student loan payments. Fucking hell.
I'm 22, for the record.
I'm 22, for the record.
Rocket Scientist
Member
How in God's name are you people buying houses at 22?! I'm still two years from graduating and who knows what will happen even after that. God damn, a house at 22?! Good lord.
whiteknight
Banned
yep, i "own" my own place. bought it when i was 23 and just finishing up renovations (the house was trashed) before i rent it out and move in with my mate.
i paid $430k but its the worst house on the best street. (well it was until i finsihed the renos and cleaned it up)
i wouldnt say renting is dead money, it depends on what you do with the money you save from not paying a morgage/repairs/whatever else needs doing on the house is what determines if you come out ahead.
and 700-800k for a house in aus is still expensive and i live in perth. there are plenty of nice houses out there for much much less and in nice areas. for that money you could buy in north perth!
unless you live up north (port headland etc) where thats prob nothing for a house in a mining area.
i paid $430k but its the worst house on the best street. (well it was until i finsihed the renos and cleaned it up)
i wouldnt say renting is dead money, it depends on what you do with the money you save from not paying a morgage/repairs/whatever else needs doing on the house is what determines if you come out ahead.
and 700-800k for a house in aus is still expensive and i live in perth. there are plenty of nice houses out there for much much less and in nice areas. for that money you could buy in north perth!
unless you live up north (port headland etc) where thats prob nothing for a house in a mining area.
whiteknight
Banned
either buying with a partner or if you work in aus, head up north for a bit
Live in a shitty part of the country where a house can be had for under $200k.
ScientificNinja
Member
I'm 35. Finished paying off my 4-bedroom house a few months ago, which is meant to be rare for someone my age. I got very lucky, I guess. I can't tell you what an incredible relief it is, not having to budget everything down to the last cent, being able to save, not sweating bullets and losing sleep over what the next shift in interest rates will mean. Can't imagine having to do that for another 15 years.
It's amazing not having to deal with landlords, building managers who won't repair anything, shitty neighbors... I'm not sinking money into rent or skyrocketing maintenance fees... every dollar I spend on it is my own... it's my own little patch of earth.
I can kind of empathize with the people who think home ownership is a scam and that they're just sitting around waiting for things to break. To me that's a sign that you lead an active social life of going out frequently. For me, my home is a place where I can relax and be myself with my family.
It's amazing not having to deal with landlords, building managers who won't repair anything, shitty neighbors... I'm not sinking money into rent or skyrocketing maintenance fees... every dollar I spend on it is my own... it's my own little patch of earth.
I can kind of empathize with the people who think home ownership is a scam and that they're just sitting around waiting for things to break. To me that's a sign that you lead an active social life of going out frequently. For me, my home is a place where I can relax and be myself with my family.
I'm only 20 now and still in college so no... My current plan is to rent until I pay off all my student loans (probably graduate with 20/25k in debt)... Then start saving as much money as I can so I can pay for like half of the house with whatever cash I have saved... Also won't invest in a house until I'm in an area I really like and in a serious/marrage relationship... Hopefully I'll be making good money in engineering so this isn't that rough.
Funky Papa
FUNK-Y-PPA-4
Enslaved myself for 6 years.
200k? A a couple houses in my neighborhood just sold for 85k and 125k. I don't live in the hood. The 85k one, the previous owners fucked it over before leaving.
chadderbox77
Member
34, 3 months from 35, and just bought a house a couple months ago. Feels good man. Never have to move again. No noisy tenants, obnoxious children screaming in halls, loud stereos to deal with, absentee landlords. Never again. Awesome.
Unheard of where I am from.
25 years old and I just bought an apartment in China. 80k US roughly, 30% down. Pay less than 500 a month on mortgage. My wife and I should be able to deal with this and it should turn around as a good investment as my city hasn't experienced the huge inflated prices of beijing and shanghai.
Falcs
Banned
Here's how I did it.
1. Skip University and just do a short 2 year IT course.
2. Get a job in IT that pays well and doesn't need uni degrees an' shit.
3. Marry a Uni grad who earns big $.
4. ???
5. Profit.
Except I wasn't 22, but still young.
Brolic Gaoler
formerly Alienshogun
I was a home owner at 28. Still am. 
OJdaKiller
Member
The question is: Should you want to be a homeowner by the time you're 35?
I wouldn't call it owning anything, other than an agreement to pay something like $600,000 for an $180,000 house over 30 years, plus a bunch of added expenses from maintenance, property taxes, insurance, commuting, time (which is basically money in effect), extra utilities, etc.
If your goal is to grow wealth, I would recommend investing in stocks. If you think that long term it's guaranteed that home prices will always grow in real value, I would suggest Las Vegas.
My fiancé and I are homeowners. I'm 25, she's 23.
We bought a townhouse in a community and it's almost finished being built. We should make settlement in February. The townhouse is 2,650 sq feet, 2 bedroom, 3.5 baths, full finished basement. We didn't go overboard on the upgrades. A better edge on the granite, upgraded cabinets and a pull out drawer in the island. Since things got delayed (we were supposed to make settlement today) they threw in a garage door opener and recessed lighting in the basement.
We got no help from our parents and we're doing everything ourselves.
How did we do it? Well, having two incomes is the obvious first thing. But we both work our assess off, working well over 40 hours a week, and we worked all throughout college.
We bought a townhouse in a community and it's almost finished being built. We should make settlement in February. The townhouse is 2,650 sq feet, 2 bedroom, 3.5 baths, full finished basement. We didn't go overboard on the upgrades. A better edge on the granite, upgraded cabinets and a pull out drawer in the island. Since things got delayed (we were supposed to make settlement today) they threw in a garage door opener and recessed lighting in the basement.
We got no help from our parents and we're doing everything ourselves.
How did we do it? Well, having two incomes is the obvious first thing. But we both work our assess off, working well over 40 hours a week, and we worked all throughout college.
Insane Metal
Gold Member
I don't know. I'm almost 27 and my life has been a mess so far. I definetly hope so...
Warm Machine
Member
I was 27 when I bought my place. I'm 37 now. Place is paid off and it more than doubled in value. I still live in it so that is irrelevant. I think I put 10% down originally.
I had a accelerated weekly mortgage and I would do lump sum payments whenever I could. Best thing I could have ever done for myself.
Now I'm getting my kitchen reno'd
I had a accelerated weekly mortgage and I would do lump sum payments whenever I could. Best thing I could have ever done for myself.
Now I'm getting my kitchen reno'd
AdventureRacing
Member
I will but that's in large part because i have been with the same partner since i was 22.
NaughtyCalibur
Member
At this rate? Not likely. I'd be perfectly content with a nice apartment in a nice location though.
I agree with this. In many ways, it roots you to one spot, limiting your mobility. If you lose your job, can you immediately go for that phat job opening on the opposite coast? Can you immediately downgrade your expenses to compensate for the lost income like a renter can if there isn't a new job waiting or if your current job downgrades your position or pay?
I'm still single. I like mobility.
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