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re: When did you buy your first house?
Posted on 3/30/21 at 12:30 pm to FinkyStinger
Posted on 3/30/21 at 12:30 pm to FinkyStinger
quote:
In 1986. I was 24 and just before closing the interest rate dropped to 9.5%. WooHoo!!!
My first mortgage was close to 7%.
1
Posted on 3/30/21 at 12:30 pm to JumpingTheShark
quote:
Some people swear not to buy a house unless you’re avoiding PMI
I think that's a rookie way of thinking, certainly not a deal breaker, a yuuuger mistake is that people don't keep up with their equity/home value and continue to pay PMI long after it's required, the mortgage company sho ain't going to remind you of that
This post was edited on 3/30/21 at 12:32 pm
Posted on 3/30/21 at 12:31 pm to SCgamecock2988
22, back in the glory days when they would give you a mortgage for 125% of the appraised value with $0 down. Just needed to prove you had a steady job for 2 paychecks. When I sold it about 10 years later, I am pretty sure I was still paying PMI. Should have fricking rented 
Posted on 3/30/21 at 12:32 pm to SCgamecock2988
quote:
When did you buy your first house?
When I was 28
Posted on 3/30/21 at 12:35 pm to SCgamecock2988
21, built it.
Finished it at 32.
Finished it at 32.
Posted on 3/30/21 at 12:37 pm to SCgamecock2988
24. 3.99% fixed rate mortgage for 15 yrs. Just finished paying my last payment and it is awesome!!!
Posted on 3/30/21 at 12:38 pm to SCgamecock2988
24
It was a fixer upper and pockets 85k 3 years later
It was a fixer upper and pockets 85k 3 years later
Posted on 3/30/21 at 12:38 pm to SCgamecock2988
Reading OP is like watching someone argue with themself. Let me know who wins. House/dog guy or apartment/bar guy.
Posted on 3/30/21 at 12:39 pm to SCgamecock2988
Two years ago at 34 years old. I finished my degree after my time in the military and went for it.
Posted on 3/30/21 at 12:39 pm to fallguy_1978
quote:
My first mortgage was close to 7%.
30 year was 18.5% when I was looking to buy/build which is why I did it myself, over time.
Finished out the structure over a summer. Moved in and finished the inside as we could pay for it.
Posted on 3/30/21 at 12:44 pm to SCgamecock2988
1967 in West Monroe for $15,000
Posted on 3/30/21 at 12:46 pm to RogerTheShrubber
quote:
30 year was 18.5% when I was looking to buy/build which is why I did it myself, over time.
Finished out the structure over a summer. Moved in and finished the inside as we could pay for it.
Rates have been so low for so long it's all a lot of people know. That's what will be the next housing bubble is when they eventually go back to 6-7%.
Posted on 3/30/21 at 12:46 pm to SCgamecock2988
2008, I was 26
Posted on 3/30/21 at 12:47 pm to SCgamecock2988
Bought my first condo at 29. Bought my first single family house at 35. Bought my current house at 39.
Yeah, but you also don't have to worry as much about maintenance or property values going to shite, or other things that you have to worry about when you own the place.
quote:
I just know I'm getting fleeced staying here
Yeah, but you also don't have to worry as much about maintenance or property values going to shite, or other things that you have to worry about when you own the place.
Posted on 3/30/21 at 12:47 pm to SCgamecock2988
2003. Paid 168k sold in 2008 for 257k. Had a 6% mortgage. No ragrets.
Posted on 3/30/21 at 12:48 pm to SCgamecock2988
23, after college.
Posted on 3/30/21 at 12:48 pm to SCgamecock2988
I was 20 when I bought my first starter home.
Brand new, 1800sqft, 3 bedroom, decent size lot for a small home, $85K
That was in either 1999 or 2000
ETA: Dirt lot, I had to sod it myself after closing.
Brand new, 1800sqft, 3 bedroom, decent size lot for a small home, $85K
That was in either 1999 or 2000
ETA: Dirt lot, I had to sod it myself after closing.
This post was edited on 3/30/21 at 12:55 pm
Posted on 3/30/21 at 12:49 pm to SCgamecock2988
I was 25 and prime interest rates were in the 6% range
Posted on 3/30/21 at 12:50 pm to kciDAtaE
Damn... you sort of nailed it.
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