Why Waiting to Buy a House Pays Off

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I bought my first — and only — house when I was 35, a couple of years older than the typical first time home buyer.  It was one of the best financial decisions I’ve ever made, and the age when I bought it mattered.

Today, I discuss why it may be better to wait to buy that house on Jen Smith’s wonderful site, Saving With Spunk!

(Remember how I mentioned in my last post why networking with other bloggers was so key?  I met Jen through a blogger support group on Facebook and it’s been a joy working with her on this post. I’m hoping to have her guest post on JMC. Please show her some love!)

5 Comments

  • Jen Smith November 21, 2016 at 2:06 pm

    Thanks JT! Happy to have you!

    Reply
  • amileinmyshoes November 21, 2016 at 7:10 pm

    Great post and very sensible. I didn’t follow any of that advice – but we had money when we bought out first and we overpaid mortgage every month. Our house is definitely too big, but we were lucky to make a 100% profit on the first flat. I guess the folk in the big house we eventually bought made money too though! Interest rate is super low at the moment but I keep saying I need to keep an eye on the market so that we know when to fix. My parents mortgage shot up every month in the 80’s to 18.5% -eek!

    Reply
    • justmakingcentscom November 21, 2016 at 11:53 pm

      100% profit? Maybe you write a how to invest in real estate post! 😛

      Interest rates will go up. If they ever get to the teens again (if we have runaway inflation), then I’m putting all my money into 30-year bonds.

      Reply
      • amileinmyshoes November 22, 2016 at 6:03 am

        Oh it was just when everyone was making money on property and everything was overpriced. I’d probably lose money if I sold this house now though!

        Reply

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