Facebook founder becomes first time buyer

17 May 2011

Great news for first time buyers, as one of their fellow strugglers has managed to get onto the property ladder. Granted, he may be the world's youngest billionaire but Mark Zuckerberg has finally shelled out the money to move into his first purchased home.

Zuckerberg, the founder of the social networking website Facebook, has spent $7million on his new five bedroom home in Palo Alto, California. This is just a small drop in the ocean for the man who turns 27 this week, and is reported to be worth over $13.5billion.

The house is a 5,617 square-feet residence is now just ten minutes from Facebook's new office, and includes a salt water swimming pool, spa, outdoor fireplace and a wide rocking chair porch. If this wasn't enough, the 1903 property also boasts five bathrooms, a banquet sized dining hall and a wood-panelled family room.

Previously, the computer entrepreneur had lived in a series of rented homes in Palo Alto, where he moved after leaving Harvard back in 2004.

First time buyers should not be too disheartened by the amount Zuckerberg has spent on his new property, as there are plenty of fantastic opportunities to be had in the current market. Chain free property is typically the most affordable and sought after deals out there. And they normally come with additional buyer incentives attached to make them even more appealing to first time buyers.

Zuckerberg's new $7million home:

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