Comments on: Do You Really Need a Mortgage In Your Twenties?

By: sole f80

sole f80 — Tue, 17 Aug 2010 16:12:36 +0000

A number of us urge that an individual and then bear in mind investment moment within changing into great. In the event your family are actually exploring regarding a most people have to give some thought to obtaining a out of a strong this retailer. Our most-liked may be unquestionably the software is usually the actual ideal approach to help look in advance. Most of us tend to recommend the fact that an individual and even consider dealing period inside growing nice. However, if everyone may be researching meant for another everyone ought to give consideration to choosing a by a good the net secure.

By: DDj

DDj — Mon, 15 Mar 2010 04:23:32 +0000

While there are many good points here. The 2 primary things to consider are (1) is the house going to hold it’s price or appreciate over time (location, location, location) and (2) can you make the payment today. Most everyone starts their home purchase (and mortgage) wondering if they’ll be able to afford to eat. But within a couple years, job changes, raises, etc. make the payment comfortable. So, if you can buy a good home without breaking the bank. Do it. You won’t be sorry.

By: pays to live green

pays to live green — Fri, 12 Mar 2010 18:53:42 +0000

It’s a tough decision for anybody in their twenties. I was a little skeptical about picking up a mortgage, but I have not regretted it since.

By: Dean Voelker

Dean Voelker — Fri, 12 Mar 2010 18:08:42 +0000

This is a well-thought out article. There are many factors in buying a home, as well as plenty of “surprise” costs. The most important thing (to me) for people of any age is to make sure you have a substantial down payment (15-20% or more) and also remember to get a 15 year mortgage. That is something I wish I had pursued more aggressively when my wife & I bought our home.

The other thing which it is MUCH easier to begin doing as a young person is to invest in the future with a 401(k) or Roth IRA. As a young person, you can put in small regular amounts and start to build a nice nest egg for your future. There is a report available also
“5 Biggest Problems With 401(k) Plans” which reveals some little known secrets of long term retirement saving. Anyone can have the whitepages report for free through my website.

By: MD @ Studenomics

MD @ Studenomics — Wed, 10 Mar 2010 19:13:30 +0000

Hey everyone!

Thanks for the positive reception to my guest post. I just wanted to say want thing. I’m writing with the benefit of hindsight and being only 22. There’s information available to young people today that wasn’t a mere 5 years ago. The recession is arguable the best thing that could’ve happened to our generation. Who knows what could’ve happened if the recession hit a few years later?

I don’t want anyone to feel bad about decisions that they made in the past. There’s no point to that. I just hope that 20-somethings read this article and heed the advice.

By: Jeremy

Jeremy — Wed, 10 Mar 2010 13:59:58 +0000

We also bought our first house about 5 years ago and in hindsight, we kind of rushed and made some costly mistakes. It was an exciting time with our new careers and the feeling that we were finally settling down and sick of renting for the past 10 years, but we certainly should have waited.

We now moved and bought a bigger house in a better area that is far more appropriate for us and our growing family. Now, we can’t sell the first house and are left with making two mortgage payments each month. Live and learn!

By: Daree Allen

Daree Allen — Wed, 10 Mar 2010 13:38:36 +0000

I’ve purchased 3 homes alone in my 20′s, and I regret the last two. The points in this article should be heeded. When I relocate this summer, I will move into an apartment for the first time in 11 years so I can avoid some headaches of homeownership that I’ve grown tired of. I’m focusing on my other debts and hopefully I will find a place I want to put down roots before I consider purchasing another house.

By: Dale Robyn Siegel

Dale Robyn Siegel — Tue, 09 Mar 2010 18:19:01 +0000

Another point to consider: The cost of real estate taxes, insurance and maintaining your home will certainly all increase year over year. You need to figure out if you can still afford this house in 5 years, so a good exercise is increase your fixed expenses by 5% annually and chart out the next 5 years. If you are not comfortable with the payment in year # 5- scale back a little or simply wait.

Remember, life gets in the way of your plans and you need to think of where you want to be in the short term future. Are you a two income household now, but want to cut it to one in three years to start a family? Do you want to be self employed in a few years, go back to school or chuck it all and back pack through Europe for 6 months? Your 20’s is too young to stress about a housing payment- make the decision that is right for you, not the masses.

By: Financial Solutions

Financial Solutions — Tue, 09 Mar 2010 15:04:18 +0000

Buying a home has been a wonderful experience for us, but it should not be done without some serious consideration. But, Don’t buy a house until you are debt free, or until you have children and need the extra space. Good word!

By: Credit Girl

Credit Girl — Mon, 08 Mar 2010 21:02:50 +0000

Agreed. There are so many factors that go into buying a home that many of us fail to consider in our grand plan. Personally, I wouldn’t mind sacrificing the comforts of owning my own home until I pay off all my student loans because once you add in a mortgage along with trying to pay off student loans, not much actually gets paid off.

Many people today are buying homes in their thirties so I don’t really feel a need to rush when I’m not financially ready and when the economy is still so horrible.