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Show ALL Forums  > Over 45  > Is it too late to dream?      Home login  
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 actualizing
Joined: 4/11/2009
Msg: 1
Is it too late to dream?Page 1 of 4    (1, 2, 3, 4)
Hi everyone,
At fifty, I have never owned a house in my life. It's because I had never dreamed about it, at all, until now. I dream about building an eco-friendly home out of pressed earth somewhere in the country near running water with a tower so I can write and paint up there. I dream of time-sharing with other eco-friendly people around the world. I have raised my two children and soon my 18-year-old will be out of the apartment that I rent. I am so eager to get out there into the world. I really don't have any savings for that, but I still dream.
My question is: Do you think it's too late in our lives to get a mortgage?
 jerseysweet
Joined: 12/11/2005
Msg: 2
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Is it too late to dream?
Posted: 4/24/2009 6:08:09 AM
It's never too late! That's what I do for a living. This is a great time to buy a house since mortgage rates are pretty low, but standards are also very strict. The easiest way is w/ an FHA loan(govt backed) - only 3.5% down. If you're a vet, it's even better- 0 down!
Don't ever let age get in your way- w/out dreams, we have little or nothing!
 lorelei540
Joined: 8/14/2008
Msg: 3
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Is it too late to dream?
Posted: 4/24/2009 6:13:12 AM
Of course not. You'll need to flesh out your dream a little bit, do some research and planning, look at the savings you do have and figure out what you can afford, and adapt the dream to your reality. You may find, for example, that instead of what you imagined, you are able to buy a small house in your city, and with your neighbors you set up a community gardening venture.
 *Don*
Joined: 1/30/2009
Msg: 4
Is it too late to dream?
Posted: 4/24/2009 6:49:26 AM
All things done by human beings, great and small, started out as an 'idea' first. You have an idea. Now plan it. Then do it. As long as you are alive, it's never too late.

D
 WindRoper
Joined: 7/24/2007
Msg: 5
Is it too late to dream?
Posted: 4/24/2009 7:07:29 AM
Not only do I think it's not too late, if you consider what conditions you're willing to survive on a temporary basis you may be surprised how little such a mortgage can be. The term "off the grid" just turns me on soooo much. Don't know if we'll ever get there but it's a helluva goal to shoot for and we won't stop trying. Good luck to you!
 scottoliver
Joined: 3/27/2008
Msg: 6
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Is it too late to dream?
Posted: 4/24/2009 8:02:24 AM
As everyone else say's it is never to late to chase after your dreams.
 cookie22222
Joined: 8/4/2007
Msg: 7
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Is it too late to dream?
Posted: 4/24/2009 8:04:35 AM
I actually have a saying posted by my computer...

"It's never too late for a fresh start."
 c_deacon
Joined: 3/13/2005
Msg: 8
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Is it too late to dream?
Posted: 4/24/2009 8:12:42 AM
Why would anyone think it to late to own?

Now it a great time to invest and have your own place, or two, or three!!!!.....

Prices are at a all time low, interest about as low as well, and many many banks, mortgage companies, and people are over extended, and caught up with their hopes of making money with the past market.

I say buy now and enjoy the fruits of your labor while you can. Since many of us are somewhat more mature, and hopefully financially stable, we make wonderful targets for correcting the mess our economy is in by investing our money, stimulating the economy, and benefiting ourselves in the end.

So cookie......go for it and do it your way, but understand as well, the limits of your capabilities, money, and debt.

Just my opinion........
 *Don*
Joined: 1/30/2009
Msg: 9
Is it too late to dream?
Posted: 4/24/2009 8:20:05 AM
Back when I was in college, taking drafting and technology courses, I made full drawings (3 foot by 2 foot pages) of the home I wanted to build down in the hills of North Carolina or Tennessee. It was a split level home, built on the side of a hill. A creek ran through the property with a dam and waterwheel on it. The waterwheel turned a turbine and power generated was stored in battery banks in the back of the adjoining garage. All rooves were covered in solar cells and there were wind turbines on the apexes of the rooves. It was my ticket to self-sufficiency and the drawings I made, the calculations I made to make sure I'd reach self-sufficiency were huge. It was my dream.

I never did build the home as other things happened in my life that took precedence. But I still have the drawings, still have the dream, and as long as I'm alive, the dream remains alive ...

D
 Jim978
Joined: 7/15/2008
Msg: 10
Is it too late to dream?
Posted: 4/24/2009 9:03:04 AM
"too late to dream" = dead. As long as you aren't dead, it's not too late!

I've drawn up plans and figured out quite a few details of building a earth-sheltered, eco-friendly home. When the time comes that I can make the jump I'd love to be able to do it.
 ApplePieFacePlant
Joined: 9/13/2008
Msg: 11
Is it too late to dream?
Posted: 4/24/2009 9:22:58 AM

All things done by human beings, great and small, started out as an 'idea' first. You have an idea. Now plan it. Then do it. As long as you are alive, it's never too late.


I love that-simple & well said.
You should never stop dreaming.
 mary15
Joined: 10/1/2006
Msg: 12
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Is it too late to dream?
Posted: 4/24/2009 9:30:38 AM
Go for it. And consider a 15 year mortgage instead of 30 so it will be paid off when you are 65. You will save a lot of interest that will make you more financially secure as you age. Interest rates are low and many properties discounted.

Also consider artist retreats. There are such places for the creative. In the course of your research I hope you find a great fit.
 best kept secret
Joined: 1/15/2006
Msg: 13
Is it too late to dream?
Posted: 4/24/2009 9:33:37 AM
Never never never....

Despite my half-century oldness (lol)...have have dreams and plans to make 'em happen!

Go for it OP....and visualize all those wonderful friends and family members who fill your walls with laughter!

 Tarnished_Knight
Joined: 3/5/2009
Msg: 14
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Is it too late to dream?
Posted: 4/24/2009 10:11:47 AM
Actualizing:

So far I've counted 12 votes for, 0 votes against, pursuing your dreams. Add My YES vote to the tally. I think a goal of home ownership is a great one. You're going to have one strike against you right from the start and that is your low finances and getting that initial construction / bridge loan. My understanding is that it is harder than a conventional mortgage loan. And I don't know anything about the financing markets north of here.

I've got a similar dream: I want to design and build at least one more home that is for me. While I'm not a rammed / pressed earth fan (if you are take a look at this starter page: http://www.greenhomebuilding.com/QandA/rammedearth/uses.htm) I am a big fan of timber frame construction combined with SIPs. While you've got your tower idea, in my dream I've got a loft over a large common room with a wrap around southern exposure. It would be my "man cave" area but also be my primary writing /working spot.

I say go for it - dreams are for pursuing, not to beat our selves about the head with.

TK
{reflecting about his first hammer and saw}
 sequoyah61
Joined: 12/8/2008
Msg: 15
Is it too late to dream?
Posted: 4/24/2009 10:32:02 AM
I bought my first home when I was 47 years old........loved that house and still do - I have such wonderful memories of living there!

The home I have now is paid for, but have been kicking around an idea with friends about buying several acres and erecting yurts and going off-grid. Yurts are quite inexpensive and I find the idea of living in a home where there are no corners or flat walls intriguing. It will be interesting to see if we can make it happen.

Go for it!






Sequoyah
 WONDERMAN37
Joined: 6/10/2007
Msg: 16
Is it too late to dream?
Posted: 4/24/2009 11:57:36 AM
Promise them to live another 30 years to pay it off, and throw in a fruit basket.
 FriendlyFreeSpirit
Joined: 8/24/2008
Msg: 17
Is it too late to dream?
Posted: 4/24/2009 2:06:35 PM
Actualizing, may I join your retreat? Although, we won't be retreating, we'll be inviting selected members of the public..what do you think?
I've been dreaming of exactly the same thing for when I "retire" (ha ha)..and can we have a big veggie garden? And a rainwater tanks?
I love the rammed earth homes. Only problem is, we'll have to find land half-way between Quebec and Melbourne. Where would that be? I'm with you, g/f!!
 moraima
Joined: 6/26/2005
Msg: 18
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Is it too late to dream?
Posted: 4/24/2009 3:00:24 PM
If you are 50 and you can pay the mortage off in 15 years................no worries. Good luck, it is a great investment for your retirement when you want extra money and aren't working any more.

How about buying a house with a legal apartment in it to help you pay the mortgage faster!
 DivineBovine
Joined: 5/13/2005
Msg: 19
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Is it too late to dream?
Posted: 4/24/2009 3:09:57 PM
i bought my first house last year 3 days before i turned 48!



go for it!
 kivastar
Joined: 11/24/2008
Msg: 20
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Is it too late to dream?
Posted: 4/24/2009 4:43:05 PM
I have owned five homes over the past fifteen years. I never dreamed that I would own any but I acquired and sold timely and benefited by my labor. Thinking back on it makes it appear to be a dream though. This last home was retro fitted with ceiling fans, wood floors, energy efficient windows, a fireplace insert and a metal roof. The utility bills have declined over the past three years. I didn't design the house but saw that it was facing North and it has trees around it which helped make the decision to buy. It is shaded in the Summer and the sun shines in it all Winter. I am planning to install a water catchment system over the next few months for the garden. I have my own shop, something that is a dream. The vegetables are tasty and I enjoy the yard.

It is not too late.
 ZenBeth
Joined: 2/23/2009
Msg: 21
Is it too late to dream?
Posted: 4/24/2009 5:50:12 PM
To be honest I know over a dozen women who have recently bought their own home in the last two months. Here in northern California we have one of the highest foreclosures rates in the country and houses that were 120k can be had for 75k.

So these women who have lived frugal wise lives and have saved money to buy a home, are now actually paying cash for their homes. No payments !!! And I only hang out with people who have lifelong goals that they meet and then new goals are made and met.

~Beth~
 rosebuds57
Joined: 1/21/2007
Msg: 22
Is it too late to dream?
Posted: 4/24/2009 6:15:02 PM
My parents never owned their home until they retired and moved to Florida. At 62 and 65 respectively my mom and dad bought a cute little bungalo that gave them 18 more years of very happy times. Then, when they became unable to take care of themselves and their home on their own, they sold it and moved back to Ohio to be near their children. They are both still living (in their mid to late 80's now) in a nursing home here in Ohio. Truth be told, I believe they'd rather still be living in their first home in Florida....

It's never to late to dare to make your dreams come true.
 April is here
Joined: 4/4/2009
Msg: 23
Is it too late to dream?
Posted: 4/24/2009 6:33:57 PM
Don't dream. If you want something, you have to get it. Act, don't dream.
 actualizing
Joined: 4/11/2009
Msg: 24
Is it too late to dream?
Posted: 4/24/2009 6:41:24 PM
Wow everyone....great ideas and yes!!! I have $10,000 saved to buy my first home, but I really want to construct one. Your responses have honestly thrilled me; reading your ideas and stories really helps me here. FFS, the place between Melbourne and Quebec is Hawaii....hmmmmmm. I like Don's house design...and TKnight's ideas as well. I'm still thinking of the design. Luckily we're doing exactly that in my grade nine class...so there is so much information out that...going to check out TK's recommended site now. Gawd I love this site sometimes!!! SMOOCHES!!!
 CJ8Rock
Joined: 3/7/2008
Msg: 25
Is it too late to dream?
Posted: 4/24/2009 6:50:55 PM
Dear - seriously - be it a house, a trip, or whatever your particular dream is - the only time it becomes "too late" is when they throw dirt in your face. Until then - keep pushing.

'ell - building a house - I would think most of the 'fun' is designing one that fits you !

Oh - make sure - large covered porch. I will bring the drinks over sometime.
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