I did the same thing, just before I turned 50. For me and my mom (I was in CA she was in TN). I bought it all by myself, no co-signer or anything on the loan. I was so proud of myself. Get ready for everything to change though. I went from feeling like I could buy anything in the grocery store to having to watch my budget. More expenses with a house (yard, repairs, sewer, water, energy), but I have this to say: It was the BEST decision I ever made.
Now, nearly 15 years later (and to Re-fi's while the rates were lower, locked in), I still owe 75% of the original loan, (seems like you are only paying interest and insurance / taxes out of each monthly payment), and it seems like a total scam when you look at the amount in the end you will end up paying (vs how much the house cost), it seemed like it was nearly double to me. But that is all OK.
Why? Because now, when I'm finding that I was forced into early retirement (long story), and I was afraid I would actually have to go out and look for a job (after working 21 years for the Federal Judiciary), I was afraid I would have to go get another job, because the pension wasn't enough, and if I started drawing on my 401(k)/TSP, it would only last 10 years, if that. I was facing looking for a job at 60 years old. Devastating.
Then, after talking with some friends, the solution for my 81 year old mom and me: Get a Reverse Mortgage! I don't have kids, and I'm pretty sure (need to verify this) if my mom is on the deed, then we both can live in this house until we die. I just need to make sure that if I go before her that she has a place to live.
Reverse mortgage requirements: You must be at least 62, you must pay Insurance and Taxes, you must live in the house as your primary residence, and you have to keep the property up.
I bought my house for 295K. I still owe over 200K. Zillow says it is worth between 550 and 600. A reverse mortgage pays off your current mortgage, and then the extra $ I get I will be able to fix some things we need fixing around the house. I will be able to live comfortably (once my mortgage is gone) on my pension + SSI.
So, invest in a house when you are younger, you will be glad for it when you get to be my age.
Of course, I don't get to give the house to anyone when I die, the bank will get it. But at that point, I don't think I will actually care about it.
Good Luck on your most important investment. Even if my scenario doesn't fit, you can always sell a house (hopefully will be worth more than when you bought it) and buy another. So many things open up once you are a home owner. I wish you the best!
(I turn 62 later this year, so I'm crossing my fingers that this all works out like I hope it will)
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