At what age did you buy your first home?

ViolaLass

SG27 wrote: »

That was 3.89 times your husbands income. If I bought for 3.89 times my income my house would be £97,000!! Our deposit alone was more than that! Just shows how crazy prices are now!

Depends where you're buying. I bought last year and it cost less than your deposit.

Niv

I was 22, purchased in Somerset in 2000. I had 0% deposit and 110% mortgage. Bought for £50k sold in 2005 (or 2004 cant quite remember) for £98k. I appriciate that I was lucky.

DRP

28yo, 2004.

Bought a 2 bed terrace for £165k in Bristol with my then partner, now wife. We had a 25k deposit. It was/is an up & coming area and very popular nowadays.

We have tried to move a couple of times - first in 2007/8 just before the crash and it fell through. Last year we SSTC and couldn't find a place ourselves. This year we accepted an offer at 235k and we are in the process of a move out of the city.

Battleaxe44

My first home was bought at the age of 19. My dad always said save your money and buy a block of land. This I did. My house was to be added to as i got the money. The first stage was bathromm kitchen laundry room, bedroom and living room. it was of wood construction. this little gem cost me a total of $A700.00 back in 1963. i went home last year and the house has been extended and is now worth $A300,000. I sold it for £A1500 in 1968. Admittedly it was overseas and I have so often wanted to repeat this experience over here, instead of land, I bought a house for £46,000. had it valued last week for £187,000.00 after nine years. we have remodelled the interior, landscaped the gardens andjust improved the house. I think we have spent about £25,000.00 on it since the orginal purchase.

If I was younger, I would buy land, buy a kit house and take it from there. it would be convincing the planning Department Local Council to look at a different type of building application.

Why can you build a house overseas in six weeks and you might kucky to have built in six moinths over here? oh I do know why, but I don't any bricks thrown through my window. Don't get me started, I might just start a revolution.

I am 69 years old and have owned home in three different countries and this country is the worst experience regarding building applications and conveyancing.

Oh my mortage is fixed rate and I owe £27.000 to the bank. this I had to fight for as the bank had never heard of Australian Style mortgages back then. Now I am trying to convince the bank, to allow me to pay double repayments and pay them weekly instead of monthly. They don't like it, as it impacts on the daily interest rate...

ognum

[QUOTE=Battleaxe44;

Why can you build a house overseas in six weeks and you might kucky to have built in six moinths over here? oh I do know why, but I don't any bricks thrown through my window. Don't get me started, I might just start a revolution.

[/QUOTE]

Wow, this is a very generalised statement! I can think of many countries and have had experience of building in one that you will be lucky if the house is built within a couple of years unless you throw lots of money at it!

isisini

Age 29 (OH 33), bought in 2012, a three bed terraced house in North East London for £310,000 with a 15% deposit (including some help from the bank of M&D). We were being priced out of areas faster than we could save, so decided to skip the starter flat and go for something we could stay in for a long time.

Cycrow

im 32 and still havn't bought my first home, cant afford to right now as i only earn 30k/year

hazyjo

Bought a flat in Blackheath, SE3 for £65k in 1991 with an ex. Sold four years later for £58,500 as the recession got worse.

Did manage to buy a lovely 2-bed flat in Greenwich on my own after that for £40k!

Jx

ShALLaX

Cycrow wrote: »

im 32 and still havn't bought my first home, cant afford to right now as i only earn 30k/year

Only? Seems like you can get a £135k mortgage with this, which makes a starter home quite within reach (even one near-ish to London)!

Davesnave

Battleaxe44 wrote: »

Why can you build a house overseas in six weeks and you might kucky to have built in six moinths over here?

We have the answer to that.

It's in Essex, and it's called Jaywick.;)