Too old to buy?

Roadtonowhere100121

I am 38 years old, will be 39 years old. I have around 30k in savings. House prices where I live are mental. I live in Hertfordshire and it is a commutable distance to London. I will be buying by  myself. I know people will say why don’t you move but all my friends and family are here. I will be looking to buy in the next few years.

MeadowsVale

I bought a house when I was 39 on a 25 year mortgage. Although I have a high income and plan to have it paid off well before the 25 years is up.

Also not in London.

Brie

Not too old as you should be able to get a mortgage that would run til you are 70.  So that's 30 years.

Will you have enough money though, that's the question?  Nothing the matter with making an informal appointment with your bank to see what they say based on your current salary, savings and the housing market.  

fyi - I bought my first house at about 45 and upgraded to my latest at 59.  South coast where the prices are pretty stupid as lots commute from here to London as well.  

Green_hopeful

I had to buy on my own in my own early 40s due to getting divorced. I got a couple of lodgers. It really took the pain off the cost of the mortgage early on. I managed to pay off a chunk in the first couple of years so when I remortgaged on the end of the fixed term it was much easier. 

nyermen

I bought at about 42.  I think I got a 20 year mortgage, embarrassing I can't remember off hand, especially as someone who works in Financial services...

BridgetTheCat

After too many years of renting I bought a house at 46 on a 20 year mortgage plus help to buy on a newbuild. I don’t earn much above minimum wage.

horsewithnoname

Friend of mine was a FTB aged 50. You’re never too old!

Myci85

Me and my partner bought our first house last year when I was 38 and he was 42. We got a 33 year mortgage as they were happy that both our jobs are ones we could do until we're old, and both have company pensions. 

Xenon

Me early 50's still renting looking to buy with a decent deposit saved (compared to the price of properties i am looking at)

kinger101

I also didn't buy until early 40s. 

Rich2808

Never too old - but it depends on your location and finances. Not easy buying in Herts - and it will probably be a 1 or 2 bed flat not a house

And of course potentially your pension situation if you expect to still be paying a pension into retirement - or if you might get future inheritances from relatives.