How old were you when you purchased your first house?

[NNN0LHI]

I was 31. It was 1986. Thats how long it took me to save up the 20% down payment that was needed back then.

And then even after that I was still hesitant. I wanted to be sure my job was stable enough and I had some extra savings to draw on in an emergency so that I didn't lose the house, my down payment and the $500 dollar non-refundable loan application fee before I made the jump.

Anyone else remember those days?

Don

[The Velveteen Ocelot]

1. 30, in 1979.

[ThomWV]

2. 30 years old - 1974 - Miami, FL - $27,000

[Uben]

3. I was 25, bought a new home in 1980

Paid on a 9.875% loan for 15 years and sold it for what I gave for it! Not a good investment!

[ixion]

4. 43 in 2007... but it was land

I bought it outright so their wouldn't be a mortgage. It was from money I'd saved over the years that I had in the stock market. I pulled everything out when Bear Stearns collapsed and put it into under-valued property.

Haven't bought a house yet. :)

[CreekDog]

5. 29 I only put 2.5% down

i bought because rents were rising so fast and i had not found a rental.

i had a fair amount saved up but it didn't go far on a 200k condo and much of it went to closing costs, prepaid property taxes and a buy down of the loan for 2 years so that i could qualify for the payments.

[NNN0LHI]

8. The PMI had to kill you on that though

Pretty expensive wasn't it?

Don

[CreekDog]

15. it was only $90 per month

totaling a $1450 mortgage payment and that was less than equivalent rent at the time.

increasing home values allowed me to refinance out of that loan and into a conventional with no PMI.

in an ironic twist, i lived right near this building:

home of PMI (yup, the folks that run Private Mortgage Insurance)

[mikeytherat]

6. 23

mikey_the_rat

[BOSSHOG]

7. 22 - 1976 - $18,000.

2 bedroom frame home in the Burbs. I do recall the signing being quite a scary event.

[ejpoeta]

9. this is pretty much our first house.

We bought this property before Emily who is now ten. so i was in my 20s. my husband and his brother bought it. It was impossible to get a mortgage for this place, because it had a singlewide on it.... Which is impossible to get a mortgage for. So the owners held a contract and we paid them monthly. We were like 25 or 26 at the time.

[kickysnana]

10. 26 in 1978, "urban homesteader" $6,500

Traded up in 1990 and sold it to my son in 2001 when that one was valued at $229,000.

[hunter]

77. 30, we were midwestern "urban homesteaders" too.

We paid $8000 cash for our house, so we had no mortgage and the total property taxes were much less than our cell phone bill is now.

In exchange we got some very interesting neighbors most of them not the dangerous sort, just a lot of good people who didn't have money or good jobs and were doing the best they could to get by.

[kickysnana]

92. We bought from an estate dating to 1875

On our block about half of the neighbors were retired blue collar(Irish Church/school 2 blocks one way, Polish church/school two blocks the other), kids in the suburbs. Another quarter houses were still owned by families and rented to nice folks. The other quarter were new houses on razed properties. Around us there were some problems but overall it was a great place to raise kids. The City Bus stopped on the corner. Elementary school was a four block walk. Two blocks to a small family owned grocery. Three blocks to a Burger King. Two blocks to a playground/recreation center/senior dining. Large lot with a carriage shed and fish smoker. Quiet, inexpensive hot water heat. Grape vines ran along one side fence. Landscaped. We put in a small garden and a swing set.

We reroofed, added insulation and weather stripping. Repaired the plaster except in the kitchen where we had to put in wall board in one area due to leaking from a flat roof over an addition that was originally a side porch. Bought new appliances. A large window air conditioner for the entire first floor for noon to sundown only some days in the summer. Trees shaded in the afternoon and the house did not hold the heat in the summer. Painted, refinished and reglazed some windows. We did have to have the foundation repaired and we replaced wiring and plumbing ourselves over the years. With everything it probably came to another $6,000 from 1978-1990. We paid less property taxes/insurance than we pay for cable TV now.

I enjoyed remembering. Thanks.

My folks told everyone I bought the house at a yard sale Sales were where I bought most of our furnishings.

[eShirl]

11. older than I am now (44)

[kdmorris]

12. 32, in 2001

Bank and the Realtor tried to force us into buying much more than we wanted(tried to tell us we could buy up to $175,000), but we stood firm and bought a house we could afford, not one the BANK thought we could afford. It's kind of small and some days, I really hate it, but it's ours, so I won't complain.

We got a VA loan, so had no down payment, but we only bought a house for $124,000, so we could afford to finance 100%.

[Liberal In Texas]

13. 25 around 1975. $20K house.

I wonder if that weird little house is still standing.

[One_Life_To_Give]

14. 35

Affordability and uncertainty I would be in the same area for 5+ years.

[dipsydoodle]

16. Twenty seven I think -

in effect anyway. That was in as much I took over the mortgage of my mother in laws house to account for improvements/extensions and pay off the existing mortgage which at the time was only a £1000 or so anyway - 1970'ish.

My son bought his first one when he was 23 - that was 1995. Two girlfriends , a son and two payoffs to the girls later he's now in his third house and don't let anymore girls move in. :rofl:

I'm relieved to say I haven't had a mortgage at all for 8 years or so now.

[mwb970]

17. 48!

I bought an infomercial course from Carleton Sheets, one of those "no money down" deals. I loved it! The course was half financial homebuying info, half motivational speech. I still think about the "self help" lessons from that course (11 years ago now). I never did any of the fancy deals he talked about, but the motivational part got me to finally make my move and switch from renter to owner. I just wish I'd done it sooner!

[TheCentepedeShoes]

102. You beat me

I was sure I would be the oldest at 47 (1995)
It was actually a condo in Tampa. I hate ppwk and dealing with financial institutions, but the future mr 'pede helped me through it. I sold in 2000, bought a house in Tally, sold that one in 2002 and am on my 3rd in TX.

[exboyfil]

18. I was 24

It was 1988, and I paid $36,500. The previous owner had paid $22,000 for it in 1968. It was a 10% interest rate 5% down FHA loan. My paper on the house was approximately one times my salary. In 1992 I lost my job and went back to graduate school for my M.S. We sold that house, with much crying, in 1993 when I went to my new job 2 1/2 hours from my wife's hometown. We now live, after several moves to different states, three blocks from that house im a larger house (1456 ft2 vs. 1040 ft2 above grade). Our old house has sold several times, and the last time a couple of years ago was for almost three times what we paid for it. It was a good house built during the housing boom in the 1960s. If we had not had to move away we would have still been in it (probably with an addition in the back and the partially above grade basement finished).

I was fortunate. I had a very good real estate agent and dealt with an ethical banker. We spent three months looking, and we had a very good understanding of prices. I also understood mortgages, had my Financial calculator to immediately calculate payments, and I could quickly prepare amortization tables on all loan options.

What I took away from the experience was that you need to buy less house that what the experts say you can. The only reason I was able to survive losing my job and afford to go back to graduate school was that we paid significantly less than many others in my peer group for a house at that time.

[GoCubsGo]

19. About four months short of 40...

I closed two months before the 2000 election. I bought the house thinking that, no, Americans aren't stupid enough to elect a jackass who drove every business he ever ran into the ground to run their country. Needless to say, I spent all of election night crying in fear that Shitboy was going to ruin the economy, and that I would lose my job and this house I just bought. Most of it has come true. Haven't lost the house yet, but only because I'm lucky enough to have family members to float me some loans until I can sell or find another job.

[cobalt1999]

20. 28 and had to save 10% down

It was tough to save that much and they went through my credit report with a fine toothed comb.

[seabeyond]

21. 29,single in 1990. BUT whne i bought the home i made sure it was a

payment in line with what i was paying rent, was the condition on finding a house. mom really nagging me to buy my home.

have bought two since then making damn sure i didnt over extend.

when i was younger living on my own i lived paycheck to paycheck and sometimes didnt make it to paycheck. i had learned about 25 i didnt want to owe, didnt want the stress. and didnt live that anymore.

[kedrys]

22. 36, in 1997

If I'd known then how things would turn out, I would have run out of the room screaming. The house we bought had hidden defects, the original owner didn't tell us about them, the builder lied his ass off. We ended up in court, and settled, but that probably was a mistake as well; we were so burned out after years of crap, we just wanted an out. That whole chapter started the downward spiral we found ourselves in, ultimately leading to foreclosure and bankruptcy.

Now renting a very nice apartment, and probably will rent for the foreseeable future, thank you very much.

[cherish44]

23. Bought one at 32 with my then hubby...bought my post divorce house last year

When I was house hunting I looked at a few that were out of my league but I ended getting small humble one I could buy outright with no mortgage and I'm glad I made that decision.

[NNN0LHI]

24. Here is the that first house I bought

http://www.zillow.com/homedetails/birds-eye-view-map/1232491_zpid/#birds-eye-view

I paid $86,000 for it in 1986 and sold it for a little over $100,000 by owner in 1989. The people who bought it wanted to assume my existing mortgage which had about a 13% interest rate. It used to have an in ground pool in the back yard that someone must have had filled in since I sold it.

Don

[dipsydoodle]

40. If you could've moved that

to the UK it would've been worth a complete fucking fortune !

[Triana]

25. I think around 33. n/t

[LiberalEsto]

26. 27, back in 1979

The house was a 75-year-old fixer-upper and cost only $47,500. That was a very low price considering we were in the New Jersey suburbs, maybe 35 miles from New York City. My then-husband and I both worked full time, had no kids, and lived frugally. We lived in an extremely cheap apartment and saved as much as we could. We were upset about the mortgage interest rate of 9%, but immediately after we closed, the rates shot up to 15% and we realized we were fortunate.

I think we managed because: 1. We lived frugally and did without in order to save for a down payment. 2. We didn't expect to buy a mansion -- we bought something well within our means.

[DoctorMyEyes]

27. 22 in 1983

Sweet little solidly built cape cod. It was $31500 and houses like it in the same neighborhood now run in the low 200,000 range. I don't remember having much of a down payment but I remember mortgage rates back then were killer. My 12% was considered a "good" rate.

Every house I've lived in has been a good investment. Even the poster up-thread who eventually sold her house for the same amount she paid for it probably did okay if you look at it like she lived "rent free" for the years she was there. Like her mortgage was giant security deposit.

That will probably be close to the case for me with my current house. It's in Pittsburgh, it's affordable, and I love it - but if I leave it I don't expect I'll walk away with any profit like my former houses. Oh well...

And on the subject of home ownership - unless you move often, are really, really not handy, or are buying in an artificially inflated market my opinion is that it's always better to own than rent.

[Vinca]

28. 26 or 27 in the mid- 1970's. We were seriously poor . . .

come to think of it we're getting seriously poor again . . . anyhow, we qualified for a special mortgage program through FHA. My husband was just starting his brief career as a real estate broker and we were able to use the commission on the house as our down payment. Our actual cash in the game was $50. The house was a serious POS, but it was a start. We're currently on rehab project #5. I expect to die with a paint roller in my hand.

[DoctorMyEyes]

33. LOL!

"I expect to die with a paint roller in my hand."

You and me both! Probably with ragged cuticles and a mouthful of finishing nails too.

[ayeshahaqqiqa]

29. I was 23

I bought the house in 1974, had it paid off by 1980. When I moved, though, I actually lost money on the sale. That same thing happened when I sold my next house. I've never looked at real estate to be a good investment.

[izzie]

30. 1959 and I had a $1000 and two lots and had bank trouble

Not that my husband did not have a steady job, he was in the Navy but that my father had money and every bank we went to wanted my father to take out the morg(9000) to build. We kept getting 'forget it and send in your father' I finally found a banker that said I know your father and my guess is you are like him so I will 'gamble' on you. the 50's were a little different. The two lots and 1000 was well over the one third many banks wanted. Banks were control more near to home also.

[TheCowsCameHome]

31. 22 - 21k and it seemed like a billion $ to me at the time.

[tanyev]

32. 37, married a first-time homeowner

And if I hadn't met mr. tanyev, I would probably still be renting an apartment or maybe a duplex.

[Coyote_Bandit]

34. 40+

right around the turn of the century. Paid cash outright for a small 60 year old home.

Right now I'm wishing I had an even smaller house somewhere else. I think it is ok to to sell the place for less than its market value and move on though. I have not had to pay interest or rent for the past several years - and I will likely be able to easily reduce my future property taxes by at least 50%. A $5000+ savings in property taxes in the next 4 years pretty easily translates into a reasonable justification for accepting $5000 less when selling the home.

[Burma Jones]

35. 36, in 1996, put 50% down

Wife and I were beneficiaries of inheritances from a couple of Grandmothers at roughly the same time.

[acmavm]

36. Yep. But for those who jumped at a chance to own a home and thought

that there would be SOME WAY to find the money, I understand. WE ALL deserve a place to go to, to feel safe, to lay down at night and wake up the next day, to take care of our families, to find some peace.

I couldn't do it now (thank you george). My hours are being cut and we're being told we need to take some 'voluntary' time off or face layoffs. Well, I got 52 hours in the last 2 weeks. So hell, who knows how long I may have my home?

Everyone deserves a 'home'.

[DoctorMyEyes]

39. hells yeah

Everyone deserves a home. And I don't blame anyone who might have gotten in over their head in pursuit of owning their own place. I think everyone who has ever bought a home has been through the hard sell the banks, realtors and various "professionals" give you - pushing for you to buy more than you can afford. If you're vulnerable or desperate I think you're more likely to buy their assurances.

In any case - I totally agree that everyone deserves basic shelter and enough food to eat.

[One_Life_To_Give]

66. Remember the push to buy more, understandable

The selling agent got 1% of the price of whatever I bought.

Part of their job can be defined as seperating you from the maximum amount of money possible, and making you look forward to doing it. Imagine if you found an agent who's personnal commision went up with the more they kept in your own pockets?

[ProfessorGAC]

37. 30

Hey, Don.

I bought my house the same year as you. We lived in rental houses before that. We were only in an apartment for 5 months.
GAC

[pampango]

38. 35 in 1985; $34,000 in a small town in Ohio. n/t

[crispini]

41. I was 35.

Been in there 5 years. Bought less house than I could afford, and I'm pretty happy.

[A Brand New World]

42. 24 - back in 1979. Along with my husband who was 29.

n/t

[alarimer]

43. Not interested in puchasing a house ever.

I am 40 and have never made enough money (35K right now at the highest). There is no possible way I could afford a house even now. I do not get why everyone is supposed to own a house. That is bullshit. People need to get used to living in higher density housing. It's better for the environment for people to live in cities where there work is than to be occupy vast amounts of open space. The development of suburbs so people can have 4000 square foot houses for two or three people (not to mention all the suburban ugliness of big box stores) has destroyed acres and acres of habitat for all kinds of creatures. There needs to be a ban on new developments. Permanently. We can build up but not out.

[raccoon]

44. I was 35. nt

[trof]

45. 29 - 1970 - $32,000

[Not Me]

46. 23, in upstate NY $37K in 1977 (new construction)

I graduated from college the year prior and was hired right out of school; I worked on a very hot project that had as much overtime as you wanted. Since I had relocated and basically had no life, I worked A LOT that year.
My Dad (wisely) suggested investing in my own place. It was some of the best advice I have ever gotten.
(edit typo)

[erinlough]

47. 1978 I was 24

Just out of college and one year into my first job. I bought an old farm house on some land for around $30,000. We fixed it up to comfortable and livable condition and sold it for 55,000 in 85. It wasn't a flip because we put a lot in it, but we did it ourselves. Fun times.

[SidDithers]

48. 25. Paid $163,750 for a 3 bedroom condo townhouse in 1993...nt

Sid

[BamaGirl]

49. 26 in 1998

Husband (he was 28 at the time of purchase) and I still live in that same house and probably will for quite a few more years to come.

[ProgressiveProfessor]

50. 22. Was offered a deal on one I could not pass up (Cheaper than renting)

[Maine-ah]

51. 28, in 2002

pd 85k, with 5k down on an FHA loan. I was financially stable, with savings. Now? Not so financially stable, and my savings is gone.

[Momgonepostal]

52. 32, and it was a condo, because that's what we could afford

We still live there, even though we've outgrown it, because it's still what we can afford.

[OmmmSweetOmmm]

53. A co-op apartment in 1984 at the age of 32. 3 years later a townhouse condo. Both times 25% down

and my ex-husband and I made sure in both cases it would be affordable. I still live in the townhouse.

[njlib]

54. 34 in 2000

Two bedroom, 1 bath, 34x24 little house in the mountains in NJ, for $120,000. Put 5% down, interest rate was 8 3/4%, refinanced in 2003 down to 6 3/8%. I'd like to refinance now, but as of last Friday, I'm unemployed. Mortgage is $1226/month, which is in line with rents on 2 bedroom apartments, and I get to have my pets! I'm hoping to get by on unemployment and my 401K until I graduate from school (going to school at night for nursing and have 11 months to go, which is why I got fired). Still have to go over the stimulus and see if there's any way I'd be eligible for refinance.

[InkAddict]

55. 21 - $18.600 2 bd 1-1/2 ba condo

Newlyweds with an anniversary under our belts - needed 10% down financing through builder. It was brand new. Sold it for $31,400 a week after surviving the 77-78 blizzard. Not too long ago those condos sold for between 80 - 100K (3bd)though most had been kept by the initial buyer or held as rentals. It's weird to see how big the trees have become.

2nd home purchased $28,800
3rd home 1988 $74,900 back when one still needed cash down and earnest money to place a bid.

IT and jobs associated with tech ended up being the jobs of NO FUTURE.
We're renters now; Mozillo, Bank of NY, various colleges, and a dead guy got it!
Have fun payin' the freight!

[LeftinOH]

56. 33..in 1998

[darkstar]

57. 40

[dysfunctional press]

58. 35. a two-flat in chicago for $131,000 in 1996- our closing date was february 29th...

we sold it in 2007 for $425,000.

prior to that, we lived in a co-op apartment in evanston, which my wife had purchased when she was 28 in 1986 for $34,000. when we bought the chicago two-flat, we sold the condo for $65,000.

[Missy Vixen]

59. It was 1995. I was thirty-five.

We had some savings and a settlement from a bad car wreck for our down payment. We bought a townhouse. We spent $133,000. I will never forget what it was like to wake up the first morning in our house.

We sold the townhouse in 2001 for $185,000 and bought a single-family home, which we still live in.

[annonymous]

60. 32. 20% down

I paid $60,000 in 1995 for a 3 bedroom rowhouse with a storage shed in back. I inherited some money when my grandfather died and used the money for the down payment. My husband and I, along with our 2 children are still living there. Sometimes it feels a bit cramped with only 1500 square feet but we can't afford to move.

[CRF450]

61. 20 years old, and got a house thats 200 grand

Well, now I'm 22. And my down payment was a HUGE one as I inherited nearly 100 grand from a "kinda" wealthy family member who passed away 4 years ago. So my mortgage payments are pretty affordable for my income, plus my house is in a good location where I prefer it.

[burythehatchet]

62. 24, 1984, Yonkers, NY $25,500 CO-OP

[RethugAssKicker]

63. I was 24...house cost 65K, 2.5% down, 13% interest....YR 1985

[11 Bravo]

64. 26 in 1977 ( If I remember correctly the mortgage was about $550 per month.)

[emmadoggy]

65. 1993. I was 26, DH was 27. House was $42,000.

We qualified for a Wisconsin first-time homebuyer program which only required 5% down. We also got a slight discount on the rate, I think? I remember our rate was 6.5% which was an amazing rate at the time - lowest rates had been in many, many years.

Our second home - in 1995 - was only $38,500. Different town/state.

Our third home, 2002 - well, suffice it to say we screwed up and are in over our heads. We rushed and were in a poor state of mind at the time to make the decision. We're managing, but I'm definitely nervous.

[Crabby Appleton]

67. 18, house was 12,500 in 1967, it was in a nice neighborhood

and a year or so ago I saw it had sold for $165,000. It was a small Cape Cod style 2 bedroom cottage.

[leftofthedial]

68. 25, 1980

Made what then seemed like a pile of dough as a musician, used it for a down payment.

[The Hope Mobile]

69. 34 in 1999 with 10% nt

Happiest I've ever been

[Fresh_Start]

70. 25

tired of paying rent and seeing no benefit from it

[bermudat]

71. I was 29.

[we can do it]

72. 34 in 1993

3% down fha, wish I had done it sooner

[snooper2]

73. 30 in June of 2005- $114,000 waited and was hesitant to be safe

like you :)

[Earth_First]

74. 28 last year... n/.t

[Blue Diadem]

75. 20, dh was 22 in 1976. We did a 90/10. House cost $25,500

We had to carry PMI insurance which wasn't much. I remember we had to produce our bank statements showing we had sufficient savings to cover 4-6 months of bills. I also remember strict enforcement of lending guidelines with no house payment over 30%(could have been 33%) of your monthly income.

Interest was higher(some due to our young age)but also the times, IIRC, a ridiculous 9%. In comparison, my neighbors moved in next door about 18 months later and had to pay 11%. By the early 80's, there were some in the neighborhood paying 13%-15%.

[AlCzervik]

76. 23.

[tabbycat31]

78. I'll be lucky if I own a home by 40

[roody]

79. 45

[question everything]

80. Not only that. We remember our parents comment

that a house should not be more expensive that twice our income

There have been stories about people purchasing houses 10 times their income: both a librarian in New York making 40K and being "convinced" by her real estate agent to purchase a $400K duplex - and to rent the other unit. Also a financial planner making $1.5 million who purchased a $10 million house. Both later, of course, could not afford the payments.

And it is not just the original purchase. I remember a few years ago a real estate agent being quoted in the LA Times (of course) that owning a home free and clear was a "bad financial planning." That one's house should be one's ATM.

[flvegan]

81. 35

Two years ago. Running an animal rescue out of a rental was too stressful. The landlord was cool, but the worry that at any day he could pull the plug got to be too much.

[DevonRex]

82. I was 32. We used my husband's VA and put no money down. We used my VA

and put no money down on our second house when I was 36.

[demokatgurrl]

83. 40, and I was hesitant even at that ripe old age

My sister, a real estate mortgage company VP, talked me into it. I paid $78,000 for a two bedroom row house in the city. I sold it 5 years later for $110. And I kick myself every day because now those houses go for $300K. My husband tried to talk me into keeping it and renting it out but I wanted no parts of landlording.

[DrZeeLit]

84. 31 -- 1982 -- the owners were defaulting and while we were in escrow it went into foreclosure court

and we had to make a bid, even though we were already complete with the purchase.
That was a weird time.
I was freaked out because the house cost us $142,500
My former husband still lives in the abode in Escondido, CA -- it's on a golf course; 4 bedrooms, 2 and a half baths. We added solar heating and a whole house fan to get tax credits.
It's a great house.
But I reside in Vermont now, having bought the only other home I've ever purchased -- 4 bedrooms, an office/library, a full basement w/garage, lovely 2 acres, lots of trees, a well, septic system, and the freshest air in the USA.
Purchased in 2004 for $300,000; we used proceeds from sale of my husband's home which was owned by both of us free and clear.
We could have just bought this one, but my husband wanted the interest deductions on taxes. We owe less than $100K. And we're looking to reboot if interest plunges.

And that's my history. Not much of one, huh?

Being a 3rd generation native Californian, I don't come from a family of "flip the house" people. I know it's the way of the world in CA, but I guess we just never got into it.
My mom and dad owned 3 homes in my lifetime (and theirs). My grandparents built a beautiful home in 1926 in LA and raised two children through WWII and into college and on to grandchildren. That gorgeous house (simple and stylish) is still right where they left it -- I checked on Google. Whoever bought it hasn't even touched my grandmother's green house (she raised orchids).

My sister and her husband built their home in 1976 and have raised three kids in it, only adding on a playroom over the garage. That's about right for all my siblings who are still in CA.

Maybe we were raised to be frugal and stay home? Not sure. I do know that we did not talk about money. My grandfather was wealthy, but I never knew! He only had an 8th grade education, but was a fabulous mind -- an inventor. He actually made money and put people to work during the Depression. My dad and mom were middle class all the way -- dad a teacher, mom a nurse. I went off to college on a full scholarship. I opened my first checking account and did not know how to write a check. Money just was never talked about in our house, even though we all worked from age 16 and were expected to find our own way to go to college. Well, they had six kids -- so that makes sense. AND... all of us did go to college, btw (brothers on sports scholarships; me on grades).

My son (34 and getting married to his sweetheart of 8 years) has traded work (art direction) for a home. Right now he's been cut from his job and is wondering what will happen, but I'm betting on him: never had a credit card (to the dismay of his financial advisor -- who has advised 3 generations now), saved most of his pay for the last five years, and still driving the car he traded for work. But nobody's buying art at the moment.....

Do we fit the norm? I'm not sure.

(oops... didn't intend to write so much, but I kept thinking about it all as I considered the issues of home ownership)

[catnhatnh]

85. 25...1978 Half a duplex....

in a wartime workers housing project...about $86 per month if I remember. Tough neighborhood but a great home.

[HarukaTheTrophyWife]

86. 25

[Stinky The Clown]

87. 28 years old. 1975. The house cost $29,000.

brand new 3/2 ranch in Hixon, TN.

[annabanana]

88. 42

(a long haul, collecting that nut. .)

[Tierra_y_Libertad]

89. 39 - $69,000 in Lake Grove, OR. 20% down. 12.5% interest.

We had fled California because we would never be able to afford a house there.

[Arugula Latte]

90. I was 30.

[Greyskye]

91. Mobile home when I was 23 or 24.

All I could afford, and I couldn't stand the thought of an apartment. 1984 or so.

[Dora]

93. 32 years old in 2002.

It was my first home purchase, my husband's second. We had an FHA loan through a LOCAL mortgage banker, and our down payment was less than $3000. The house itself was $142,000, plus $6,000 in repairs before moving in. We sold that house in 1997 at enough of a profit to buy the one we currently live in with 30% down, lowering our monthly payment considerably.

[Mike 03]

94. Wow, I'm envious because so many of you were so young. I wasn't able to purchase a home

until I was about 38. But it was inexpensive for those times ($350,000) and I was able to buy it outright, without the trouble of a mortgage. It's probably worth a lot less now, as our economy is tanking day by day.

[ContinentalOp]

95. 25. I don't want to mention the price here because you will all think I'm insane

or wealthy. But let's just say that I bought in L.A. around 2003. As crazy as the price was, the payments are still cheaper than what my wife and I were paying combined when we had two separate apartments (not married at that point obv.).

[Sisaruus]

96. 21 in 1973; house cost $24,000

Back then you had to have at least a 20% down-payment and when our parents came up with the money, we all had to jump through some hoops to prove it wasn't a loan. The 3 bedroom cape on a half-acre of land was $24,000.

Remember when your parents used to tell you that they bought a house for less than what you just paid for your new car. I now get to say that to my kids.

[GA_ArmyVet]

97. I was 27, used my VA Loan and moved into POS in fayetteville, NC (NT)

[Blue_In_AK]

98. I was 34 when my ex and I purchased our first house in 1980.

I was 44 when I first purchased one on my own (1990). It's where I still live.

[trackfan]

99. 40, in 2000 n/t

[blaze]

100. 31 in 1985 for 76,000

Have refinanced twice since then and, with any luck, will have it paid off in three years!!! Homes in the neighborhood are now selling for about $300,000!

[lukasahero]

101. I was 36 in 1999

My husband was 49 and it was his first house as well.

It took us a long time to decide to do this. On the bright side, we were financially positioned to do it right and it was paid off 2 years ago.

I'm not sure which days you are asking us to remember... Owning a house is a huge financial and life-changing decision. The financial implications should be well-researched before jumping in. It is not something to be entered into lightly.

[Zing Zing Zingbah]

103. 28 in 2007

We will have officially purchased the house in another 28 years, when I'm 58. The price tag was $118,500 and we didn't put down anything, but it is still a standard 30 year fixed (6.75%) mortgage. 20% is way too much to save up even for a cheaper house these days.

[kevsand]

104. 43 in 1997

We had 20% for the down payment, but because of our less than stellar credit history, the best we could get was still an ARM that started at 11.5%

Two years later, it was set to jump to 13.5%, but because we'd cleaned up our act a bit financially, we were able to refinance to a fixed rate at 7.5%

[slackmaster]

105. 36, in 1994

It was hard, but it turned out to be a very good decision.

[NorthCarolina]

106. I was 19.

Received some money from my fathers estate when I turned 18, not a lot but enough to buy a new car with (which is what I intended to do), but my mother and step-dad convinced me to invest in a home instead. It was quite an experience on many levels for a 19 yo, but turned out to be a great investment!

[B3Nut]

107. 23, in 1994

Bought my first house in Battle Creek MI. Little 800 sq ft. mini-ranch with full basement. $33,400 for the place, starter homes were cheap as dirt in BC then. Lived there until I got lured to The Glorious Republic of Cheesecurdistan in 2002. :)

Sometimes I miss that little house, small but enough for a bachelor and a couple goofball pit bulls. My Hammond B-3 organ dominated the little living room... :D

Todd in Cheesecurdistan