Would you buy a house at 50?

[Anonymous]

Anonymous wrote:

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.

Ok. what are you afraid of?

[Anonymous]

Anonymous wrote: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.

Yes, I am 55 and have been doing the math on making age-in-place modifications to my current home vs just selling and buying something else. I am leaning to the latter as I don't want to live through any reno and if I have to spend money anyway might as well just buy something with the features I will need.

[Anonymous]

As a landlord who has benefited from rising rents, no way in hell would i want to be at the mercy of the rental market. of course I would buy a house at 50, or 60 or 70.

aim 48 and currently looking at our next investment.

[Anonymous]

Anonymous wrote:

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

why? my parents are in their 70s and just built a beautiful home in Palm Beach and split their time between there and Connecticut. Though PB has been cold recently, they love splitting their time between New England and Florida. They basically love living at the beach year round.

can’t take it with you! why the hell not build a house?

[Anonymous]

Anonymous wrote: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.

Agreed.

[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?

Yes

I did at 63

[Anonymous]

I bought at 50, after renting for 25+ years. My landlord abruptly decided to sell the duplex we’d been living in for 17 years. We couldn’t find another place in the same school system on short notice, and I decided I never want to be subject to the whims of a landlord again (not to mention paying someone else’s mortgage).

Best decision I ever made. I’m building equity and don’t have to worry about rent being raised or our home getting sold out from under us. I don’t have to worry about the security deposit every time the kids ding the walls or the cat scratches the carpeting. And I can remodel the kitchen and paint the walls whatever color I want.

[Anonymous]

Only with cash. I don't want any debt going into retirement.

[Anonymous]

is a landlord would advise you to continue to rent also as a landlord, I would advise you to purchase a property. I have a couple of rentals but the one I’ve had longest I’ve had for 15 years and the rent has more than doubled over the course of that time and renters are the ones that are paying off my mortgage and then some I understand some people can’t purchase a home and can’t scrape together the money or don’t have the credit but if you can purchase a home, I think it’s absolutely bonkers to rent.

[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?

Why don't you give us the exact numbers for a home you'd like to buy versus how much this home would rent or similar home nearby.
I'm a happy renter for now. After doing the math in my location with available homes, I can tell you that I have no business buying a home ever. This is purely considering math and other options for that money. Feelings are a different story and should be given some weight.
If I were to pay rent for 30 years, I could buy the home I rent cash, the home next door cash, and have money left over. Buying my home cash now, would even be a worse mistake money-wise.
Someone who has OP's money, will not have to worry about being homeless, so let's stop scaring people. Perhaps homeowners need to worry about being homeless due to mistakes in title, identity death, increased insurance rates, missing mortgage payment, taxes, HOA, or mold rendering the place unlivable.

[Anonymous]

Yes. Rents always go up. With homeownership your taxes and insurance goes up but eventually you'll have no mortgage. Get a 15 year mortgage so when you retire you'll be mortgage free and only paying taxes and insurance and regular maintenance. Which will be less than renting a comparable place. At least you'll have security from knowing you'll never be priced out due to rising rents.

[Anonymous]

There is no age limit.

And you have an advantage. You are single, so you don't need a big house.

[Anonymous]

I bought a home at 58.

[Anonymous]

Friend of mine in LA, single, no kids, couldn't afford a house until she was 60 and inherited money from her parents to buy a 900 sq ft house for about 500K. 30 year mortgage.

[Anonymous]

I bought at 49. No regrets. Good luck, OP.