At what age did you opt to buy your first property?

Poppy9

I was 22 and OH 24 in 1986. We had a 10% deposit and had to do the majority of work ourselves to modernise the house. OH got made redundant less than a year after buying so only my £4k salary to pay the mortgage until he got another job.

Sold it after almost 8 years and rented from family for just over a year before we bought current house. We doubled our mortgage and used savings to jump up the property ladder. We moved to a much better area and house with more land. We have been mortgage free on this house for a while now and are thinking of downsizing to release equity in the house as it's too big for us.

We have a small mortgage on a second property which we rent out.

Torry_Quine

We were both 24 and bought a home as we were gettting married. It was our first home as we hadn't live together before. Never even considered private renting, probably as we din't know anyone who did. Had applied naievely for a council house though.

Superbiatch

I was 21. Rent on a one bedroomed council flat in a tower block was £300 a month, or i could buy a brand new little two bedroom semi for £229 a month in 1998. No brainer really, got a 95% mortgage

moneyistooshorttomention

dorsetlady wrote: »

It was 18 months ago and I was 48. It wasn't that I "opted" to wait until that age - circumstances meant that I couldn't afford it before.

I'll admit I don't understand the thread title either. The way I feel personally is that it isn't a "choice" at all to buy a house - its something I've always "known as the norm" and automatically knew I would do so too. My reaction was I "opted" to buy my own home the very first second it became clear that it looked as if I was going to have to do so on my own (as I hadn't met "The One" - as I had just assumed I would). So I made my decision to buy a house immediately in my early 20's, BUT I was unable to do anything about this decision until well into my 30s in the event (courtesy of that single status and being poorly-paid) and had to have a stroke of luck to eventually manage it.

By the time I finally had that stroke of luck I was seriously panicking about the fact that I hadn't even got a starter house yet and knew that something drastic HAD to happen one way or another, as I would never have accepted not having my own house.

I wonder sometimes what would have happened if that stroke of luck hadn't come along and think I would most likely have taken advantage of having a "portable" job at the time and had my job transferred to north of England - where I would have been able to afford a house. I would not have been a happy bunny at all if I had been forced to choose between moving or staying in a rented place (but I know I'm someone who finds it very difficult to deal with personally if life turns out worse than the norm/my assumptions as to how it would be). Definitely not an "accept what you have and make the best of it" temperament....

lessonlearned

It was 1976 and I was 25. Most people looked askance at a young single woman buying by herself. It was very rare back then.

curedham

I was 32 and OH was 27. This was only 3 years ago. Could have bought earlier but then wouldn't have experience half the things that I've done by now. I don't think I would trade that for the world.

brokemedic

When I was about 28 years old. I wish I had done it sooner but I was living (and enjoying) life in London. I recall saving for my deposit. There was a whole year where I didn't go out at all and lived very frugally.. My only treat once a week was a cheap bottle of red and a small pizza.. but I don't regret it at all..

mrsmchapman

I was 22 and brought my home alone, I lived there for 10 years and sold up to live with my husband. I'm not surprised by the age increase, when I brought my deposit was only £3000!!!

sinbad182

26 years old. I was lucky enough to be able to buy a flat in a good part of London and have never looked back. Got lucky with the timing too and have just sold it for more than I paid.

moneyistooshorttomention

lessonlearned wrote: »

It was 1976 and I was 25. Most people looked askance at a young single woman buying by herself. It was very rare back then.

I must admit I wasn't aware of anyone looking askance at young single women buying a house on their own in that era.

What I DO remember was being astonished about the fact that I had reached adulthood and there was still a requirement (as I recall) for someone else (eg a father or someone) to be a guarantor or some such thing and it was made awkward or impossible for single women to get a mortgage. My decision to buy a place instantly (subsequently being frustrated in that by the fact houses went up a fair bit at about that point) was made the second it was made clear that the law wouldn't allow mortgage discrimination against single women any longer. I thought "What kept you?/Now they have no option but to give me a mortgage without being awkward about it or refusing" and made the decision to go ahead within days of that...

By the time I was finally able to get on with that decision and actually buy a place it had become taken for granted that of course single women wouldn't have problems getting their mortgage agreed and I took great satisfaction in using what advantages I had to hand by then and telling the building society I had chosen that they were going to give me a mortgage and the terms it would be on - and they did:rotfl: (they might have forgotten yesteryear's "awkwardness to women" - but I hadn't...). By that point I knew I had found a way to borrow rather a lot more than other people on the same income as me...