At what age did you buy your first home?

Lola888

tim123456789 wrote: »

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

27 people! That's a bit rich! :rotfl:
I would be mtg free if I bought a house in the SW Valleys, I've seen decent houses for £50k, but in nasty areas.

In 2003 when I was 22, he was 27 for £113,000 with a 25% deposit. We got a tiny 2 bed terrace house in a nice area rather than a bigger house in a not so nice area. I was very fortunate that my parents drummed into me to save, save save and his great uncle died leaving money to all of his great nieces and nephews so we had a good deposit.

We broke up and I managed to buy him out of his half. I sold it for £130,000 in 2011 and I now live in a large 3 bed semi, all in Cardiff which we bought for £260,000.

I have always had fixed mortgages, I have just fixed for 5 years at 2.99% with no fees. It is expensive, but my BIL pays £1,500 p/m rent on a tiny 2 bed flat in London whereas we are paying £900 p/m mortgage on our own home.

If you can do it I would. It's much better than giving your money to pay for someone else's mtg

Chambo_2

Myself and partner both 22, halfway through buying a house in the South East for 190000.

UKThingy

End of 1987, we were both 25 payed £25,000. That's when Maggie had the interest rates at 15%

Full_of_angst

I bought a flat in 1988. I bought it in February for about £15k; sold it in December (same year) for £17k. Following that we had the property boom where it all went silly and I heard that the young man who bought it from me sold it the following year for £27k!!! If only I'd hung on to it for a bit longer but I was getting married and relocating so it was just life!

jamesml

Bought last December, I was 23 and she was 26, £320k in Oxfordshire. Love the house, love the area. Really pleased we did it. More expensive than we had intended (=lower % deposit) but feel we skipped a step and hopefully will stay in this house slightly longer as a result. Had to spend enough on SDLT so need to make it worthwhile now!

J_i_m

I am 30 years old, I haven't bought my first home yet. I'm saving on the way towards it though. I could have bought already had I had my head in the right place. Life is what it is though and everyone is different.

hcb42

Aged 19, for £20K.

Sold it 4 yrs later for £36K. Interest rates were about 13% when we bought.

Waterlily24

1968 I was 21 oh was 27 (In those days you couldn't have a mortgage at 18, so we waited until I was 21 so it could be a joint mortgage). We bought for £5900 and had a £5300 mortgage. It was a 1930's 3 bed semi that needed doing up.

phoebe1989seb

We were 21/22 and helped out by bank of mum and dad to buy a one-bed flat on the South Coast in 1988 IIRC

We bought and sold a few places till we got to our *forever* home in our thirties, but when DS went to uni we realised we no longer needed a six-bed house and a stonking great mortgage (which we'd added to in order to renovate the place) so we sold up and bought somewhere a bit smaller - current house is still 5 beds, but 1000 sq ft less and no mortgage - hurrah :T

DS and his GF bought their first flat two years ago (aged 22) in SW London. They are extremely fortunate to have no mortgage as DS received an inheritance from my uncle and GF's mum stumped up the remainder

Moomum

I was 29 , OH 27. £733,000 in SE London. 25% deposit. Hopefully wont need to move again really until we downsize when kids are bigger.