At what age is 'normal' to buy? How old were you?

oystercatcher

We were 22 and 23 back in 1984.

It definitely wasn't easy though, when the interest rates went up to the 10-15% rates our mortgage payments were more than half our monthly income. We couldn't afford to run a car and didn't have new furniture etc.

The deposit came from my savings , started when I was a teenager and babysitting etc.

I passed the savings ethic on to my children, my eldest bought a house aged 21 and single, 5 years ago. He had a deposit ready, we just helped him a little so he managed a better mortgage rate. This is within commuting distance of London so not a dirt cheap area.
Not so easy for other members of the family though as everyone has different circumstances.

Durban

Moved back to this country after living overseas for years with nothing.
Me, husband and 3 kids and no jobs.
Got jobs and saved like crazy for deposit
Bought first at 33. Paid mortgage off in 14 years.
Rented it out and bought second house at 46. Hopefully will be paid off by the time I'm 58.
And helped my daughter buy a flat.

laurasavon

I was 21 a week before we got the keys to our first house, moved at 23 then bought the now ex out at 27. Still have the house now at 30 plus an extra house and flat which are rented out.

I started work full time at 18 but kept my two part time jobs I'd had from school and saved like mad for the best part of 3 years and then bought a cheap house. It's doable if you work hard. My parents helped with the higher lending charge but I saved the deposit.

Joanthebone

OK, I will make you cry .... I was 19 my new husband 26, this was in 1969 ... he had a 1% mortgage for £6,000. I wanted him to buy a 4 storey house in Islington (we were both working in the City). He refused... 30 years later he was no longer my husband.






I am not bitter. :rotfl:

Pincher

Joanthebone wrote: »

OK, I will make you cry .... I was 19 my new husband 26, this was in 1969 ... he had a 1% mortgage for £6,000. I wanted him to buy a 4 storey house in Islington (we were both working in the City). He refused... 30 years later he was no longer my husband.

Upper Street was still a dump in the 1980s, before Tony Blair and Granita. You could have bought in Islington around 1992 to 1997, and wouldn't have missed a thing. I only bought in 1997, and still laugh myself silly.

ellie27

I was born in Glasgow, lived with my mum and worked in Glasgow til I was 28.

Moved to Dublin at 28 with other half and bought our first place together there. That was 2005, just before the property crash. Major negative equity there! (have let it out for the last 7 years)

Joanthebone

Pincher wrote: »

Upper Street was still a dump in the 1980s, before Tony Blair and Granita. You could have bought in Islington around 1992 to 1997, and wouldn't have missed a thing. I only bought in 1997, and still laugh myself silly.

Rub my nose in it why don't you? This was just the first of many opportunities he disregarded :mad:


And how many people could get a mortgage, with no deposit, of £6,000 at 1% in 1969?

Pincher

Joanthebone wrote: »

Rub my nose in it why don't you? This was just the first of many opportunities he disregarded :mad:


And how many people could get a mortgage, with no deposit, of £6,000 at 1% in 1969?

My mother bought in 1977 for £27k, which became £170k in 1997. This was in an unfashionable part of London.
Provided you had a house from 1969, it would have gone up by a similar multiple.


What with MIRAS up to £30k, a 3% mortgage was not that bad, as income tax was 30%, (or was it 33%?).


When I heard about the bank staff discount, from acquaintances, I was a bit jealous, but it's a cherry on top, not a life changing difference.


Men are beasts, even the ones with a steady job with a bank. There, there, there.


Amusingly enough, my mother was always egging me to get a job with a bank, become an accountant; or if I was really useless, join the Civil Service. :rotfl:

orionmoo

24 when i purchased

mustang121

25 when me and fianc!e purchased.