Has anyone bought their first own home in their 50’s, or older?

With buying a home not happening I can see not happening next year and so now aiming doing nothing for 4 years, (renting, or buying.) I would be 49 before possibly buying a home.

I’m wondering, has anyone who may be reading this blog been in their 50’s, or older, when it came to buying their first home?

12 thoughts on “Has anyone bought their first own home in their 50’s, or older?

  1. I don’t envy you trying to get on the property ladder. Hubby and I were in our mid thirties when we bought our first house together, but both of us had had houses and mortgages before. It is still a minefield. Good luck.

    1. Thank you for your comment. As you know, I hoped this year be it, but now it isn’t. Next year not looking like it. So maybe lucky in 4 years. I can only hope. X

    1. I will when I have the money to buy. But now not in a position to. I have to wait. So with me now having to wait, at an older age than I planned to be, if I can make it happen then and nothing jeopardise it I am wondering if there are readers who did end up buying their first home at 49, or older, in their 50’s. Just out of curiosity.

  2. Although tricky with the finances as you get older with less years to pay off the mortgage, I struggled when I bought my first property aged 27 with loneliness and living on my own, also the responsibility of owning a home. I found it quite overwhelming at times. I reckon it would be easier to deal with these emotional aspects when you are older and more settled in yourself.

    1. Yes, I think in my 20’s I would not have managed emotionally then either, compared to now.
      My plan was always to have a short mortgage term. Still is.

  3. I can’t really give any useful input here as I’m 32, with no belief I’ll ever be able to afford to rent more than a postage stamp-sized garage one day let alone buy my own house. I do think it’s becoming an increasing issue among our generation and the next, with people unable to get on the property ladder or not doing until much later in life. The ones that do, who earn their own cash to pay for it, are going to be fairly rare in the grand scheme of things. Many will have mortgages and some will have inheritance/a property passed down to them. That said, I think it’s possible to be a savvy spender and saver so as to save enough to put down a deposit, perhaps finding cheaper locations with more budget-friendly properties. You’re so hardworking and money-savvy, Liz, you more than deserve to be able to buy your own house one day, sooner rather than later. It’s just sad that hard work and responsibility don’t often equate to the outcome reality.xx

    1. It’s certainly going to be later. I wasn’t going for expensive properties. But I am picky where I will be too, as I know areas I wouldn’t buy in that could be cheaper. But properties would need to be done up, before moving in, as that bad. Not something I want to do. I just want to move in and maintain and alter if needed slowly.
      4 years is certainly looking where I am currently renting.
      I can imagine too, that there be many others not getting on the proper ladder like you say. If I don’t get anywhere by 4 years time, I will give up, as I want my mortgage paid before a certain age. I want to enjoy many years being mortgage free, way before retiring age. So this is why I am curious, in case there are people in their 50’s who bought their first home. Wondering if I am alone, or if there are.

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