Just curious....

halfpint

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I've had a few homes, we bought this one new almost 6 yrs ago when prices were within reason, I would like to move but don't think it makes sence we paid like $165,000 wjhen we bought it, and now it's worth $550,000 but it would cost that to move and we would get pretty much the same house
It would take every dime you make for a down pymt and the monthy pymts would be more then were paying... Were stuck
 

staciej

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We could probably buy a house in a few years but the city we live in is so big it's kinda pointless since I really have no idea what will happen with jobs and such. Graduation is sooo close and the only reason I'm in the city is because of university, lol. Right now renting is the only way to have any freedom in decided what to do in the future.


I'm 23 and JosÃ[emoji]169[/emoji] just turned 21 and we're not too concerned about having a house, my only reason would be traffic since the apartment parking lot is so loud.
 

lionessrampant

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I rent because even though I never get to see that money again, the median home price in my area is $1.5 million. Since not even my parents, one of whom is dentist and the other in accountant, could afford that, I doubt that Ian and I, at 20, would be able to live even in the suburbs if we decided to buy. And we both absoltely NEED to be in the city, not only because it's practical, but because we're both really, really urban people and we'd probably get suicidal if we had to live in the country.
 

jcat

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My husband inherited half our house (a duplex) from his grandparents, and we bought his brother's share when I was 25 and he was 30. We bought a second house (quadruplex) as an investment when I was 35 and he was 40, and used the rents to pay off the mortgage within 8 years. Being an owner has its drawbacks, as you are responsible for things like new windows, development fees, furnaces, roofs, etc., and at times the rental income just doesn't cover the expenses, but I believe in the long run it's still better than renting.
 

rapunzel47

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We rent. In our area, for housing we can afford, we have a choice: we can buy a loooooooong way out, spend our lives commuting, and have no time for the activities that we enjoy; or we can rent in a convenient area of the city. It's really that simple. When I win my lottery (yeah, right!) we'll buy. Until then, it's not even under discussion. Neither of us has a strong "need" to own property; both of us value the fact that when the roof has to be replaced, it's not us stuck with the cost -- and that did happen seven or eight years ago.

That said, I don't think it's ever too late, if it's what you want to do and can afford to. We had friends who were married in their 60s, and bought a townhouse then -- neither of them had owned property previously. It worked for them.
 

cheeseface

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I don't consider a house bought until it's fully paid for, so my bought age was 28. That's when I finished paying off my mortgage.
 

lilleah

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Originally Posted by Hydroaxe

I don't consider a house bought until it's fully paid for, so my bought age was 28. That's when I finished paying off my mortgage.
See i told you that you were professional. Sounds like a professional thing to do...
 

sharky

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I am on the deed ... so I guess I do co own the house ... though I pay rent to mom ... go figure ... An old boyfriend told me once scientists werent meant to be rich and at the ripe old age of 28 I think he was right...lol.. one day when I am no longer tied to mom I will move to the country since I am so far from an urbanite it aint funny... My town has 21000 people and it s getting to big for my taste...
 

MoochNNoodles

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DH was 20 when he bought this place. I was 20 when we got married and I moved in. He's in the military though, so he'd had a good steady income since HS.
 

lisasha3

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I bought my first home Sept 2004 - I was 34yrs.
I was married for 8 years, but my X wasn't all that great about the whole "work" thing (thus the divorce). So we were always in an apartment.
My home isn't that big, but it's still my dream home - cause it's mine!
 

dawnofsierra

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I rent, and agree it's quite an endless waste paying more each month to fill my landlord's wallets than some homeowners pay on their mortgage. For now, though, I'm enjoying the perks of living on the beach, yet still look forward to being in the position to purchase my own home.
 

catkiki

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We own our home. It is a big step, not to be taken lightly. When you rent, you don't have to fix things that break. It can be very costly when things break. A new AC/Heater combo cost us over 2000 to replace. We had to do without this for a year. Not too fun in 100+ degree weather.

One piece of advice... DON'T BUY where there is a homeowner's association. Ours is a pain in the butt. I was recovering from a stroke a year ago, and the only thing they was concerned about was getting our money. They had no compassion at all. This is true for most associations.
 

KitEKats4Eva!

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Originally Posted by Hydroaxe

I don't consider a house bought until it's fully paid for, so my bought age was 28. That's when I finished paying off my mortgage.
Wyan, are you ***ing me???

What did you do, smuggle guns across the border or something??


I am 31 and wouldn't even have the money for a deposit...but when we do want to buy we are lucky that housing isn't TOO bad in Perth. The place we're living now was just valued at $460,000, but we only pay $250 a week in rent. To buy this place we'd pay five times that in a mortgage.

In Perth, first homeowners tend to average about a $280K - $350K mortgage, with at least 10 percent of that as a deposit to even get the loan.

For us it's much more financially viable to rent, as we'd never be able to afford to buy in the areas we want to live.
 

lillekat

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I rented my own place at 17. Now I live in the boyfriends place - this is his first place on his own and he bought this apartment at 27. Currently he's paying a mortgage on this one but we're looking for to move in the future!
 

stampit3d

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Actually....we built our first home when we had been married just over 2 years. Larry was 19 and I was 17.
We have built 3 other ones since then in the almost 40 years that we have been married. You save a lot of $$$$ when you can do the work yourself!
Linda
 

bby2ks2k

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Originally Posted by jdpesz

I was 41 when we bought our current home 7 1/2 years ago, which is my first owned home.
Hey, I'm just down the road from you in Lake Stevens!!! I just moved into my first house a little over a week ago at the age of 27. It's taken a lot to get here, I've worked as much overtime I can take at work to save for the downpayment anywhere between 65-84 hours a week for the last 7 months.
But it's great not burning my money every month and can reap the tax benefits and build equity at the same time.

Here are some pictures of my home...

http://www.s2ki.com/forums/index.php?showtopic=363778
 
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