First home financing

[speedog]

So after perusing the 'Rent to own home' thread and considering beyond's demographics, I thought it was time for another poll.

When you purchased your first home, were all of the monies involved attained by yourself or was part or all of the monies realized through family/friends? Certainly there are people on beyond who've been given monies at their weddings/whatever to go towards a new home and I can recall cases where we're talking tens of 1000's of dollars if not more.

My wife and I, we didn't have any outside help - our down payment was our own saved monies and we negotiated our own first mortgage, but I have at least one brother and his wife who received plenty of money at their wedding with the intent that it be used towards the purchase of their first home - old European money.

Anonymous poll - just answer honestly.

[Maxt]

I took the house plunge when I was a second year apprentice. No money from Mom and Dad, paying my own rent in an apartment while I saved the down payment. On top of that I had 140 km round trip to school and back driving a truck with a 440 in it. It was tight for awhile, especially when I was in school. I made to much money to qualify for EI while I was in school, so I didn't have the out of work funding the others had, but it taught me to save.

[calgarys_finest]

My house was all of my money, my brother on the other hand was a huge chunk from my grandparents.

[tch7]

Technically it was all attained by myself.

However, my parents made it possible for me to graduate without debt and save my earnings at a quick rate, so without them I certainly couldn't have bought as nice of a place at my age as I did.

[speedog]

Technically, my wife and I both put ourselves through school while living on our own and then financed/saved our own monies for our own home - having a helping hand to come out of college/university debt free certainly skews the ease of the ability to get one's own first home.

[brucebanner]

No handouts or help from parents. Everything came out of my pocket.

[Twin_Cam_Turbo]

Parents paid for my tuition at SAIT and free rent until my house is done, I declined to take money from my dad to help with my downpayment because I wanted him to put it towards his dream car.

[ExtraSlow]

There's no point even having this thread, our resident housing denier will just claim we're all lying.

[AE92_TreunoSC]

I was helped by inheritance that I had saved for years till I was ready, so a little bit of column A and B for me :)

[Sugarphreak]

...

[heavyfuel]

Got fuck all, getting fuck all, gonna get fuck all. If and when I pull it off it's gonna be all me, and the Corona and tequila's gonna taste better than anything that night.

[ercchry]

lets see...

before i put a dime towards my house i had to...

-pay back my parents for a year of school... since i didnt continue with my education (i had an RESP that my parents setup, every dime i got till i was 12, birthdays etc went into it)

-pay off my SO's credit card

then i was still able to qualify for everything with only being with my current company for 1 month

[XylathaneGTR]

No handouts and all monies were my own, but I did mooch rent free from my family while I was in school, and had scholarships and whatever with school. Those two things were direct inputs into buying my first place so soon.
Grateful for the indirect help.

[Tik-Tok]

No hand outs from either of our parents for schooling, or the house. Neither of us come from well-off families. That being said, we did get a large (for us) wedding gift from her parents , but that just paid for half the wedding (which wasn't expensive to begin with).

At the same time though, we got a zero down payment mortgage, so it's not like we saved up for the house, lol.

[Sugarphreak]

...

[masoncgy]

I purchased my first home in late 2004... 5% down. I borrowed about 2/3 of the downpayment from a couple good friends of mine and repayed it back to them in the spring of 2005 when I came into a good amount of money in a company bonus. I repaid the full amounts borrowed plus a little extra for their troubles.

It was the wisest purchase I ever made and has set me up for a pretty comfortable life out here on the Island.

[phreezee]

I know two friends who were given a whole house!:bigpimp:

[mugenfever]

I wish i could say i won the home lottery or had a good chunk of equity from Grandparents, but my first home financing was just from personal savings. I took a short secondment from Calgary and made some decent premiums to work in Quebec. I can back and used my savings to finance my first property!

[FraserB]

All my downpayment will be my own money.

Working secondments out in the middle of nowhere for the next year to get it too. Parents did let me stay at home rent free while in school and paid a percentage.