Would you buy a house at 50?

[Anonymous]

We sold our when we divorced 5 years. And since I have been renting. I am thinking about buying a home again at 50. I will put 50% down. 529, 401ks, Taxable etc are fullly funded.

Would you buy a house at 50?

[Anonymous]

I would.

[Anonymous]

My father worked all over the world for a large corporation and rented all his life until his retirement, when he bought a home cash, in his 60s.

Of course you can buy a home at 50.

[Anonymous]

Anonymous wrote:We sold our when we divorced 5 years. And since I have been renting. I am thinking about buying a home again at 50. I will put 50% down. 529, 401ks, Taxable etc are fullly funded.

Would you buy a house at 50?

My parents bought their retirement home at 75, so of course I’d buy a home at 50.

[Anonymous]

Why wouldn’t you?

[Anonymous]

Yes

[Anonymous]

Absolutely.

[Anonymous]

Sure, but I wouldn’t choose a 30 year mortgage.

[Anonymous]

I would be cautious about how many levels my house had, how much outdoor maintenance was required, how accessible the bathrooms are, what the parking situation was, and other aging-friendly items. At 50, I felt pretty great. At 55, I feel the aging more and more. It could be more expensive than you think to hire all this out.

Financially, it’s probably not a great move, but owning a home rarely is. Still, money is for living. If that’s what you want, go for it. I’d do a 15 year mortgage and run my retirement numbers and plan carefully.

[Anonymous]

My MIL didn't buy a house until she was ~70. It made her happy. Small, one level.

[Anonymous]

Yes, just know that you should buy a smaller place. Know one wants 6 bathrooms to clean at age 60+

[Anonymous]

You left out money. If money is not a problem and you can find a house you like, go for it.
I sold 3 homes lately. It's such a relief not to own anything. All money went into market where it has done well. I have no plans to buy any time soon, because buying is more expensive in my preferred area than renting.
Instead of buying a home, I went for early retirement.

[Anonymous]

Can you do a 15 year mortgage? My 81 year old mother in law just bought a new house!

[Anonymous]

How long do you plan to hold the house, is the key? I plan to buy a new place and downsize when I’m 60. Will hold it until I am unable to live in it.

[Anonymous]

Yes. We did. Technically, I was 52 and a first time homebuyer. DH who is a bit older had owned a home in another state before we married.