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

movilogo

At a pace house price is going up, soon it would be quite abnormal to own a house at any age

agentk

19 viewed at 18 took 9 months too sort the shared ownership of seller. In 1989, The interest rate was about 10% and climbed seemed monthly, lived hand to mouth 12 hour shifts and no furniture or carpets fixer upper. Single at the time, But glad i did have been mortage free since 31:j

greensalad

I'm 24 and will start saving around my 25th birthday as that's when my debt will be repaid. Hoping to save up enough deposit in 6-8 years. Hoping I can keep up with the rate house prices are increasing by.

Kinda depressing, when I was a bit younger I used to think I wanted to be married by about 30 and have kids by about 32/33. But I won't be able to afford more than a small flat by that time so I think babies/families are out of the window for me unless I want to rent for life!

greensalad

Pixie5740 wrote: »

I quite agree. If I could get a secure tenancy and was allowed to decorate, maybe even have a pet then I would have no problems with renting.

This is the thing that gets me.

Thirty years ago, renting a place generally meant renting for many many years. My grandparents rented the same place for 18 years before they could afford to buy. My BF's grandparents were the same. You could rent but it was still your home. I have friends parents who were not well off and started renting 20 years ago. They've redecorated, had new bathrooms and kitchens done etc with 50% contribution from the landlord. They fully expect to be there another 20 years.

But me, I've moved every year sometimes more than once a year since I left home at 18. I've just entered a second year in one property for the first time ever. It's nice not to move so often but I was really panicking around the beginning of the year thinking "will I have to move? Will we be given 2 months notice and told to leave? Will we find somewhere that holds our furniture? We'll have to go round the house and take out all the picture hooks and polyfil them in. I hope we can find somewhere that lets me cycle to work still..." etc etc

I'm trying not to get too comfortable in our flat because I know it's not home. It's not mine. I could be kicked out at any time (within reason) and I can't let myself get attached.

I desperately want a pet. I really want to decorate, I hate the bland magnolia. We cannot do anything to the property which means certain hobbies are on hold until we can afford a place which will be years away yet. Sometimes i just feel like crying, I don't want to be kicked out of the place that feels more and more like my home every day I'm there.

JJ1974_2

I was 25, back in 2005. I was incredibly lucky to be living with parents rent-free (besides a couple of token family grocery shops each month) so was able to save well for a deposit.


If I was sitting on a £40k deposit fund, and was living with my parents I'd be on Rightmove rather than MSE forums!

laughingcow81

We were 27 when we bought our first place, which was about 5 1/5 years ago now. I think we bought at the right time because when we sold it, we made enough of a profit that we could afford to buy the house we're in now.

According to Zoopla (so a VERY big pinch of salt) the house has increased in value by about £40k since we bought it!! It doesn't matter really as we're planning to stay a while but it's nice to know

Dollyrockerz

Bought my first house at 21 and doubled my money in 2 years, then my second at 25 got divorced and moved back in with parents for a year till that house sold for barely what we paid for it.

I bought a new place with my brother when I was 27 and stayed 6 years. Got remarried, had a baby and sold this February, now waiting for house number 4 to go through while living with the inlaws

Red-Squirrel_2

greensalad wrote: »

Kinda depressing, when I was a bit younger I used to think I wanted to be married by about 30 and have kids by about 32/33. But I won't be able to afford more than a small flat by that time so I think babies/families are out of the window for me unless I want to rent for life!

Setting deadlines and timescales for yourself for these big life events is a terrible idea anyway, they just lead to you doubting yourself if it happens earlier and getting depressed if it doesn't happen 'on schedule'. Things normally work out right one way or the other, good luck!

tizzle6560

I bought in London 8 months ago at the age of 27. I saved bit by bit and moved back home with the 'rents for the last stint to get me over the money line for deposit and stamp duty etc.

I can honestly say I did this on my own with no trust fund or inheritance and am proud of my achievement.

greensalad

I know, I know I shouldn't put a timescale on things. But it's true - I want to start my own family eventually but I would never do it unless I was in a good financial situation and I don't think I ever will be! I'm not comfortable having children + renting because it's just such an unstable life.