At what age did you buy your first home?

I_have_spoken

24 .

iris

We bought our first house in 1963 with a 10% deposit. It was in the West Midlands and cost £2,200:) It was a two-bedroomed semi and needed 'doing up'. We were 18 and 22.

We have since moved many times and now live in a 3 bedroomed bungalow, but don't rule out moving again for the 'right' property.

jules888

Bought with boyfriend,aged 21 in 1988.2 bed terraced bungalow in Yarm north east England for £20,000.
We bought a 3 bed semi aged 26.
Just this year aged 46 bought our last house for forseeable future ,a 4 bed detatched.
Think will be later for our 2 sons aged 17 and 15.

kirstypark

we were 18 and 20 in 1987 and bought a 2 bedroom flat for £16,255. with 100% mortgage and were even allowed to borrow an additional 500 quid to install heating. all ancient history now.

Finally paid off that mortgage last year, just to borrow it all back again for new house move tomorrow, aged 44 and 46, finally getting the "forever" home. But we have had some great fun along the way.

jules888

kirstypark wrote: »

we were 18 and 20 in 1987 and bought a 2 bedroom flat for £16,255. with 100% mortgage and were even allowed to borrow an additional 500 quid to install heating. all ancient history now.

Finally paid off that mortgage last year, just to borrow it all back again for new house move tomorrow, aged 44 and 46, finally getting the "forever" home. But we have had some great fun along the way.

Shame you had to borrow again.We are in our forever home but with no mortgage.Paid mortgage off years ago and used savings to move.Was great telling solicitor we dont need a mortgage!Thats why took us 20 years to move from 3 bed semi to a 4 bed.

johannalf88

If saving goes as planned we will be 27/28 when we are in a position to buy on our own. (So in 2ish years). That would be a house in London (zone 3).

Hermoine

I bought my first home when I was 34, because it took me that long to be able to afford a mortgage (it cost 96k, I think - I sold it for a lot more 9 years later, but by then house prices had risen significantly everywhere). It actually took me until 30 to afford enough to be able to rent a small flat by myself, before then it was flatshares. Did I mind getting on the property ladder relatively late? Not really - I spent my 20s building up my career, and having some fun along the way. By the time I bought I was ready to nest. Following that, I have bought and sold when I needed to relocate,not to upsize or indeed make much money. I am now on my 4th house, and very much hope not to move again.
The only disadvantage of starting so late was that I would have been paying off a mortgage into my 60s. However, I had a small legacy and I have downscaled slightly by moving out of London so I am now mortgage free at 52, which is an enormous relief.
I really wouldn't rush into house-buying if I was in my early 20s - its an enormous financial commitment to take on at a time of your life when you don't really know where your life and finances will end up..

tim123456789

cz.art wrote: »

I am 19, planning to get my very first flat before I turn 21. So I'm wondering how it works for the others since I don't know much about buying a home yet

If you are one of the 27 people in the S Wales valleys who has a job, it should be easy

if you live in London or the SE, forget it

(Oh and 24 BTW, and that as in the era when prices weren't silly)

tim

Waffle_On

2004 aged 23, 45k on a 1 bed SO in Northants with 5% deposit. I was very proud of myself being an independent woman and all that!

Silver_Lining_3

Hoping to buy next year, I'll be 27 and buying alone in Brighton which is pretty daymn expensive, so anticipating it will be a tiny mini one bed.