About 12 years ago I had the privilege of helping what was for me the oldest first-time buyer of my career. She was 71 years old and had been renting the same apartment for the past 25 years. Her building was being sold and she had to make a decision about what she was going to do about her housing situation. For various reasons she decided that it was time for her to own her own property instead of continuing to rent.
This situation made me realize that home ownership is about those who are ready for it; age is not a factor as you can see. You commit to it when you are ready — whether it be when your 21 or 71 years of age.
I guess that I was fortunate to own my first property when I was 23 years old. I had been licensed for 2 years but was I nervous! Even though I had helped other first-time buyers I had never bought real estate before and I felt unsure about the process — I had no mentors who I could turn to for help and guidance. As a result of this early experience I developed an understanding and appreciation for the need to explain the home search process; what’s involved, how to approach the process in a methodical way which empowers you to feel comfortable and knowledgeable each step along the way. Proceeding at a comfortable pace, being given the information ahead of time on what the next steps are will allow you to move forward confidently.
So my 71 year old first-time buyer ended up owning a condo in her preferred location which she loved with the space and amenities she needed and at a price that she could afford. Reminiscing about this puts a smile on my face!