Teenager buys home in Canal Winchester
Chloe Green is proud to be a first-time homeowner, but a little disappointed that she didn’t buy a home when she was younger.
She had long hoped to own a home when she was 18.
Instead, she didn’t sign the deal until she was 19.
“I started investing my money when I was 15,” she says. “My goal was always to buy a house when I was 18.”
After reviewing dozens of homes and outbidding many, she finally found the perfect one – a two-bedroom, two-bathroom Winchester Canal condominium. Last week she closed the house.
“I’m just overwhelmed with joy,” she said. “It occurs to me that I really own a home. This is my home, a place I can call home, I can’t believe I made it.”
Green isn’t the youngest person to buy a house in central Ohio – a Facebook post of this story drew several comments from readers who said they or someone they knew had bought a house when they were 18 or 19 – but it is certainly rare.
According to the National Association of Realtors, the median age of first-time buyers last year was 33, and 3% of buyers were between 18 and 24.
“I’ve made thousands of loans and never made a loan for someone as young as Chloe,” said Andy Beigel, a loan originator at NFM Lending in Easton.
“She has had two jobs for two years. She is by far the most responsible teenager I have ever met.
A native of Norfolk, Virginia, Green grew up in Columbus with his eyes set on the future. She started working at 15 at Trusted Motors, a West Side car dealership owned by her godfather, Bobby Mitchell. She is now the office manager at the dealership.
At age 16, she graduated from Mason Run High School, a charter school that focuses on early graduation and career development. She is currently studying psychology at Franklin University.
She has her own gift basket and gift business, Coco’s Creations. And she’s an instructor at It Takes A Village Early Education Center in Canal Winchester, which is affiliated with Green’s Church, The Father’s House.
“We are more than a church; we offer courses like seminars on credit, how to invest and how to save, ”she said. “Ten percent goes to God, and the rest is mine to put aside for my future.”
By the end of last summer, Green had set aside nearly $ 20,000, enough, she thought, to start looking for a house.
Through church, Green got to know Julian McClurkin, a Columbus native who played for the Harlem Globetrotters for nine years. When COVID-19 put the team on the bench last year, McClurkin finished the real estate classes he was taking and got his license.
He started helping Green look for homes last fall. He didn’t realize her age until she applied for a loan with Beigel.
“Andy and I both found out his age at the same time,” said McClurkin, an agent for Golden Gate Real Estate. “When you talk to Chloe, she doesn’t sound like a 19 year old girl.”
Beigel admits he was skeptical when a 19-year-old applied for a home loan.
“I thought, let’s see how it goes. Most of the time, teens don’t have a credit score, let alone qualifying assets, ”Beigel said.
“She had everything she needed, so once we finished the initial profile, I thought it would be crazy if she bought a house as young as she is.”
With homes in short supply and in high demand, the search was not easy.
“We looked at probably 40 homes,” McClurkin said. “It was a fight. We made a lot of offers, at least 10. Each time she got more and more discouraged, but she doubled and came back right away.
Green admitted that the search had exhausted her.
“I started to get a little discouraged, I was looking at so many houses,” she says. “All I did, from November to March, was looking for accommodation.”
At 5 a.m. on March 22, the Canal Winchester condominium listing entered his search.
“Something said ‘Click me’, and I did it even though it was so early,” she said.
Hours later, she and McClurkin visited the 1,132 square foot home in the Canal Villas neighborhood.
“The moment I walked through the door a smile crossed my face and I thought, ‘This is the one,’” said Green.
The house was listed at $ 159,900. Green’s offer of $ 165,100 was accepted. She estimates her monthly housing costs will be less than $ 1,000, including insurance and condominium fees – well below the $ 1,300 per month she was paying in rent.
After shutting down the house, Green did what any teenager would do: posted on social media. His Facebook post on Thursday under his nickname, CoCo Gee, had 18,000 likes and more than 3,500 comments.
The post was so successful that McClurkin estimates that 25 people have contacted him to ask him to find them a home. Most, he notes, are young.
“It’s a one-time purchase for most people,” he told Green as they toured the house on Friday. “And you already did at 19.”
Standing in the living room which is now his, Green replied, “I think I am where I should be.”