The Perfect Age To Buy A Home The Perfect Age To Buy A Home

I bought a house at age 24, and the average first time home buyers does it at 36. But if you ask me why I bought that home, I would give you a great answer, but looking back it was pretty stupid.

I would say, I rather have peace of mind owning my own property, have equity, and looking forward into the future, it’s a lot better to raise a family.

Truth is at that age, it so hard to predict where you’ll be in the net 5 years, but its not hard to predict that their will be house in 5 years, so theirs no need to lock yourself into a property so early on. So in this video, I’ll tell you eactly the best age to buy a property and why.

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Change age with Needs

Buying a property is not about age, milestone or a personal goal

Truth is that the people that try to make you feel like a house is a massive achievement are the ones that are trying to sell you the home or lend you the money ( or the government trying to insentives some action )

So here is my 4-word answer :

When should you buy a home

“When you need one”

When do I need one:

Ready to set roots somewhere.

Ready to start family

Planning to stay their for more than 5 years ( and really sure about that )

My problem was this :

I thought I was good on all those factor but my situation said differently

I was really young, aand just wanted to check things off really

I should have just rented until things really materialized into something

When the time comes how should I do it

Most people payoff their homes when they sell it and buy another and get into another mortgage basically

And most people are only interested in buying and not owning

So to that you have to do things differently

First off:

Bbefore you buy make sure you need to buy

If you can get away with renting for 5 years, that’s good

Use a rent vs buy calculator

Second: Mortgage details

Buy on a 15 years mortgage

No more than 33% of your net monthly income on the monthly cost

Put down atleast 10-20%

Third: Ignore this

Interest rates

Housing market

When you buy, buy because you are ready

If the market in your favor great but if its not be careful trying to time something you have no control over

Conclusion ( age is not important )

If you’re 18 and the math fits and you know you’ll be living there for years ( go for it )

For me personally, I have not rush, so I’ll buy ones I’m married and my wife and I know where we want to set roots

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*Some of the links and other products that appear on this video are from companies in which Tommy Bryson will earn an affiliate commission or referral bonus. Tommy Bryson is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. I’m an Accountant but I’m not your Accountant, always review information with your Accountant/CPA and your Financial Advisor.

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