Would you buy a house at 50?

[Anonymous]

I’d keep renting. Upkeep is a pain.

[Anonymous]

Yes, but I would only buy one that would allow me to age in place. Ie garage, bedroom, full bath, laundry on the main level at minimum.

[Anonymous]

Anonymous wrote:I would have avoided divorce

Lol. Ok.

[Anonymous]

Why wouldn’t you buy a house at 50? Does life end at 50?

[Anonymous]

I’m not sure why you wouldn’t.
I bought a house in 2020 with a 30y mortgage. I was 51.

[Anonymous]

Anonymous wrote:

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

This!

why not?

[Anonymous]

As long as you don't buy in a state with ridiculous property taxes go for it. I moved to DC from White Plains NY a few years ago. If I were still in White plains NY I wouldn't buy a house at 50. Heck I wouldn't buy a house there at all lol

[Anonymous]

My dad wants to build a house at 75. My mom is not thrilled with this but the planning gives him something to do I guess.

[Anonymous]

Anonymous wrote:

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.

Did they take out a non backed mortgage though

[Anonymous]

Anonymous wrote:My dad wants to build a house at 75. My mom is not thrilled with this but the planning gives him something to do I guess.

This is a dumb plan

[Anonymous]

Anonymous wrote:My mom was renting and then got tired of being subject to the whims of landlords so at 72 decided to buy and she’s been happy.

I rent at a rent stabilized place and except for “recertification” every year I don’t expect any trouble. No rent hikes, no “we are selling the house”, I’m here for the long haul. The only problem is the upkeep as I need to clean the bedroom carpet and wash second story windows.

[Anonymous]

Anonymous wrote:OP here..thank you so much for responding. I plan to take a 15 years mortgage. And I will absolutely run the numbers very carefully. I am conscious that this could set me back a bit if I overextend myself. In theory I can buy it cash and still be okay, that would be sacrificing potential growth in equities. And I don't plan to buy a large home.

If you can afford it in cash but just choose not to, then it’s a good idea to buy (except maybe property taxes will eventually be too much? Will your family help you out if you can’t afford them one day?)

[Anonymous]

We bought our house when I was 55 - 20% down with a fixed rate for 30 years.

[Anonymous]

Unrelated but how can anyone ever claim “taxable accounts are fully funded”?

That makes no sense

[Anonymous]

Anonymous wrote:Unrelated but how can anyone ever claim “taxable accounts are fully funded”?

That makes no sense

OP here. It was poorly worded. What I meant is I have been fulling maxing my 401k/Roth for the past 20 years. And I have been investing in VTSAX for the past 20 years as well. I can retire today if I wanted to.