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I was 23 and made $50k/year. Bought a duplex for $120k and the rent covered the mortgage and I lived in half. I put down 20%. Highly recommend this as an entry into home ownership. Smartest thing financial thing I ever did.
I bought my first vacation home at 33 making $180k for $350k. I put down 10%. I don't rent it out, it's just a vacation home. I now make $220k base with 20% bonus (age 37). It's manageable.
No I didn't. Solo.
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I have a rental property in NYC that I bought in my late 40s, and I bought a pied-a-terre also in NYC at 50. No debt on either property. The pied-a-terre was not meant to be an investment, but a second home we use.
Honestly, if I had just put the money in the stock market, I would have done better.
24. Put down $10k. I think I was making $65k at the time.
Are you buying solo or do you have a partner? We’re at 600k and bought 3 homes (including our primary) when interest rate rates were nothing in 2021. We were 31 at the time and probably making half that but economics made a lot more sense with sub 3% rates and renting out. I think it’s more about the circumstances than age and income. I would probably wait till interest rates come down in general, but there are mannnny factors to consider. Just make sure the math maths and you should be good. Be conservative on assumptions tho so you don’t get blindsided and always have a plan b for changing tides.