When did you buy your first house?

[buckeye4rnr]

It really depends. My mortgage will go up about $200 a month to buy the house I'm renting; but I am in a unique situation.
I used to not understand why some people rented, but in certain situations it makes a lot more sense than it used to. If I was someone who loved the city and didn't worry about economic collapse, I'd probably only buy rental properties and and rent a townhome for myself.

For me to find a comparable place(house or condo) with an extra bedroom(currently only 1) in close proximity to where I currently live, the mortgage would almost double what I pay in rent... before any HOA fees.

I'd love to own a place but it ain't happening anytime soon so hopefully rent increases don't kill me.

[Irving]

So my dad saw one of our Aurora tenants on the street corner begging for money up in Boulder today.

[Wulf202]

So my dad saw one of our Aurora tenants on the street corner begging for money up in Boulder today.

LOL, that's a new one for me.

[Irving]

Coalition for the Homeless pays his rent. I'd rather him do that all day than sell drugs out of the unit or stand out in the yard and tangle with the rest of the neighborhood.

[Wulf202]

Coalition for the Homeless pays his rent.

They pay the best.

[JoeT]

I was 29 in 1997, married for 2 years. We paid $179,000 for a 2000 square foot colonial (new construction) with a 7.5%interest rate. We sold in 2005 for $425,000

[LeftHandBlack]

Im 39 and still havent purchased one. I got pre qualified and all that 5 years ago but didnt pull the trigger on one. I will tell you realtors are just like lawyers and car salesman. They all talk to you like your their best friend til the second they realize they arent gonna make any money off you. I had my experiences with the married with children lifestyle and it didnt suit me either.

[drift_g35]

I was 20 bought it with my now wife. That was 2011 @ 4.5%

[Adawg38]

3 weeks ago, 34 yo, got a house with the wife. Locked it at 4.375% 30 year fixed. Was the biggest headache but it's better than paying someone elses mortgage.

I got to say I am glad I didn't have to do an FHA and I know sometimes that's what you get but mainly because of Obamas bailouts FHA lenders that add mortgage ins for all loans as of July you will no longer be able to drop the ins after 11 years or whatever it was. That mortgage ins adds about $300 a month to your mortgage.

I'm an edit monkey. I can't seem to get my thoughts right.

[Irving]

Last Friday. 30 years old, bought with wife. 4% for 30 years. FHA and the mortgage insurance sucks. Added $171/mo to the mortgage. Can refinance into a conventional once it gets to 80% loan to value, but by the time that happens, who knows what the interest rates will be.