What's my home worth?

Enter your information and I'll get right back to you with a free home estimate.
Find out!
check

Sent

What's my home worth?

Enter your information and I'll get right back to you with a free home estimate.
Find out!
check

Sent

Anthony Bedgood

Discover Afforable Homes











Anthony Bedgood

Kellar Davis

Buying a Home Early Can Significantly Increase Future Wealth

January 13, 2020


According to an Urban Institute study, homeowners who purchase a house before age 35 are better prepared for retirement at age 60.

The good news is, our younger generations are strong believers in homeownership.

According to a Freddie Mac survey,

“The dream of homeownership is alive and well within “Generation Z,” the demographic cohort following Millennials.

Our survey…finds that Gen Z views homeownership as an important goal. They estimate that they will attain this goal by the time they turn 30 years old, three years younger than the current median homebuying age (33).”

Buying a Home Early Can Significantly Increase Future Wealth | Keeping Current MattersIf these aspiring homeowners purchase at an early age, the Urban Institute study shows the impact it can have.

Based on this data, those who purchased their first homes when they were younger than 25 had an average of $10,000 left on their mortgage at age 60. The 50% of buyers who purchased in their mid-20s and early-30s had close to $50,000 left, but traditionally purchased more expensive homes.Buying a Home Early Can Significantly Increase Future Wealth | Keeping Current MattersAlthough the vast majority of Gen Zers want to own a home and are somewhat confident in their future, “In terms of financial awareness, 65% of Gen Z respondents report that they are not confident in their knowledge of the mortgage process.”

Bottom Line

As the numbers show, you’re not alone. If you want to buy this year but you’re not sure where to start the process, meet with a local real estate professional who can help you to understand the best steps to take from here.


Tags:

Featured Listings

sold
BIGGEST LOT IN THE NEIGHBORHOOD!!! This 4+3 is the only property in the neighborhood on a 13,000+ Sqft. lot with a USABLE Front Yard, Back Yard and Side Yard. Perfect for families or anyone does not want to be right on top of their neighbors.
$690,000
sold
4
beds
3
baths
2,418
Sq Ft
listed
Spectacular Cul-de-sac Pool Home!! The house features include 4 bedrooms and 3 full baths! This 2,096 sq ft. 2 story has a recently updated kitchen with Quartz counter tops and stainless steel appliances included. Walk-in Pantry w/ Barn Door. Updated bath
$659,900
listed
4
beds
3
baths
2,096
Sq Ft
sold
$815,000
sold
4
beds
4
baths
3,255
Sq Ft

Recent Posts

Get Started!