Why is it that adults know how to buy their own house and cars etc...?

Question

how will they understand stuff like buying houses with mortgages, loans, payments etc...?

why dont 15 yr olds understand it?

how do they learn?

what age do they start to buy these things at?

Answer 1

Most people talk to other people who have gone through the process before.  Once you buy a car with a loan or a house, it gets a little easier for the next time.  There are many people you can talk to.  Real estate agents can be very helpful because they are very familiar with the process.  You can start buying cars as soon as you can get a bank to loan you money (probably with someone who will co-sign, like a parent).  There really isn't a set age for buying a house, it has more to do with your credit.

Answer 2

Our government schools teach socialism and are not much interested in capitalism unfortunately.

Answer 3

because they've had experience

Answer 4

These are just things that you learn along the way.  It's called experience.  You really don't know that much about it until you have done it first hand.

Answer 5

A 15 yr. old could understand it if they want to spend the time learning about it.  Most adults know about this stuff because they had the experience of going through the process for the need of a car or house.  

I am a licensed Realtor and a licensed Mortgage Broker in my state.  You would be surprised how many people come to me with no clue of how to go about buying a home.  This is simply because, like you, they have never done it before.  But once they go thru the process, they know how to do it again.  

My boss bought his first home at the age of 20.  When he was 15, he read books on how to obtain real estate.  There is power in knowledge my friend.  At any age you can read up on how to do anything, through the Internet, your local library or bookstores.  It is up to you!

Answer 6

Finish high school, get a COLLEGE degree, and when you get a good job, you can start worrying about all that.

Life will happen soon enough for you.

Trust me, adults sometimes wish they didn't have the pressure of the bills to go along with it.

Your job is to finish school and be a responsible teenager.

Answer 7

I think you hit on an interest point here.  I thing with so much going on in families lives, the basics are being forgotten about, most kids these days don't understand these basic concepts, and parent believe they are being taught in school but they are not.  I really believe that since the depression era, the next generations there after have really lost touch with the basic survival finance skills that were necessary back then

Answer 8

It should be pretty obvious that many adults DO NOT understand these things and how they work.    Just look at all of the foreclosures.   These are happening because of things those adults decided to do, and it was obvious that this would be the outcome of their choice.....yet they did it anyway.   Obviously not all of us think as much as you think we do.

Answer 9

It's like anything else, you ask questions, you read up, you talk to others that have gone through the process.  Life is a learning experience.  The problem lately is that people really haven't bothered to learn enough and relied on the wrong people for advice and have bought houses that have lost value and a lot of times over bought so now they are losing their homes.  Don't be one of those people.  Ask questions and read a lot, listen to talk radio about finances and remember everything you read and hear is an opinion.  Start reading about finance, read the newspaper every day and you will become more informed.  How are you going to buy your first car?  Do you know you can set up financing on the internet first at a lower rate than the car dealers can give you unless they have a very special promotion. . .See now you know that.  My best advice is to get a very good education, go as far as you can, learn everything you can, study hard,  make those A's.  That gives you a good basis to start life on and then you build.  Look into grants very seriously so that you don't start working way in debt.  Education can be free.  Second-stay out of debt and save starting when you are very young Third-don't spend that savings.  And the moral of the story is:  The more you know the more you will realize how little you really know.  But that is more than most people.  Good luck.  Oh, you start buying those things when you can afford them and you want them and not until.

Answer 10

My mom helped me buy my first house, lol.

Read books, research on the internet, talk to people who have been through the process, listen to some of the consumer shows on talk radio.  You too can learn how to support yourself :-)

Answer 11

Well, not adults do. I'm fairly well educated in credit, auto loans, things like that...

But I'm a total lame-o in the house buying department. But I'm learning, slooowly. I had no reason to know before because I had no interest in owning a home, lol.

But now I do, and now I'm learning! Same with you and other teens, they'll learn in their own time, when they're ready and in need of something.

Answer 12

I understood it lol. I was researching realestate nationwide at 15. Got pregnant (by choice), married, and moved 2200 miles at 17. Bought my house on an acre of land 2 miles off the lake at the age of 19. We are by no means rich. my husband makes less than 40k a year. I simply did my homework, followed values in areas of living interest, saw the "green light" so to speak, and went for it. We are very meticulous with finances, I'm almost ocd with budgeting. I budget 1 year in advance even, then adjust monthly. Our home will be paid off before I am 30. I wasn't interested in "what do you want to do Friday". I was busy learning about finances and realestate, and focused on trying to make a life.

Young people are capable, they just usually don't have the mentality or disciplne to do it.

Personally I am the way I am, as a result of irresponsible parents. My parents were dirt poor, horrible with finances, constantly in bankruptcy, never had anything. I remember being little (like age 5) and going through the mail, and seeing all the "red" slips. I just learned young that isn't the way to live. So I decided no matter what the bills would be paid in full on time, or I'd be sending more than the bill was. It's paid off huge at a young age. I can honestly say that is one of the only good things my parents taught me, and they hate me for it.

Answer 13

Lol....adults dont understand all these things contrary to what you may think, buying a house is a huge process, and there is someone to walk you through it, theres more to it than you could even imagine, and theres no way for us to understand it completely, just the basics. A regular loan is pretty straight forward, if you need a loan, you go to the bank, and if your credit is good, and they approve what you need the loan for, you can get one....but then theres interest rates, and term, and other things....you learn as you go, a 15 year old doesnt need to worry about a mortgage, it doesnt hurt to understand if your interested, but its kind of a do it when you need to sort of thing, most adults have some sort of support on financial decisions of that magnitude, because there is so much that goes into it, and so much we actually dont understand. keep being a kid, these things really are no fun, we just have to do it.

Answer 14

Well hopefully you'll learn these things from your parents.  The first car I ever bought (26 y/o) my father went with me and helped me thru the process and helped negotiate the loan on the car.  The first home I had it was already owned by my father, however, he allowed me to sell it with his help, he talked me thru everything, handled dealing with the title company etc.  The first home I bought I found on my own, however, my father was there to read the contract and help me choose the upgrades etc.  I qualified for my own mortgage without his help but still sought his advice on questions I had.

I hold a real estate license and I still don't understand it all, the last two cars I purchased from a friend that owned a used car business so buying was simply getting a car loan from a bank and driving off with the car, no haggle and no hassle.  Buying a car is a nightmare one I refuse to go thru so I hold onto my car for years.

Unless you're in the real estate business and do it for a living not all adults know what's going on there's always someone who will walk them thru the process or they know of someone who's been there and they can talk to.