Is anyone else finding it hard to purchase their first home in their 20s by themselves

Question

I am in my mid 20s, about to buy my first unit and it seems that the dream of owning a home is very soon something that not many people can strive for. I am struggling big time! And thats before u put in bills, living costs, etc

Answer 1

i brought my home on my own in my early 30s, 2 years later i can say it was well worth it.

If you are able to afford the mthly mtg payment, go for it.

Answer 2

You problem is neither unique nor new.  Many people don't buy a first home until they are in their mid-30s.

Answer 3

I admire your desire to purchase your own real estate.  However, bear in mind that you have no RIGHT to own real estate.  Such is determined by your financial status and credit standing.  It CAN be difficult to purchase real estate in your younger years, unless you have a substantial income which allows you to do so.

My story ?  DECADES ago, we purchased our first home for $13,500, and it was a very cute property.  It took a nice loan from Grandma to make it happen, but we got it done.  We kept the house for five years, made a reasonable profit, and then built the home in which we still live nearly four decades later.  The worth of this house ?  Somewhere around $350K.  My cost to get into it?  I'm embarrassed.  We bought the land and completed construction for $57K, but that was back in 1976.

Answer 4

My husband and I are currently having our house built by Centex in Texas. We are both 21. The only problem was to pay off our $2500 credit card debt. It was hard but definately worth it. (We both swear to try our best to never use those again.) Then we went and looked at builders at the end of June 08. They preapproved us for $130,000.  Here in the Dallas/Fort Worth area we found a house for $108990 and 1859 sq. ft We signed a contract with them mid July 08. It all happened in a month. It is a very exciting process. We know 2 sets of married couples (they are all under 24 years old) that have bought their home in the DFW area. One couple it took only 3 months the other 5 months. Hopes this helps!!