Buying a Home Early Can Significantly Increase Future Wealth
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).”
If 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.
Although 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, let’s get together to help you understand the best steps to take from here.
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https://bit.ly/2jElfHU Utah Realty uses Cory Clayson of Amerispec
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Do you currently own? Find out how much your home has gone up? Free market Value Report at: https://listings.utahrealtyplace.com/idx/homevaluation Just click and fill out the details of your home and we'll do the rest! https://bit.ly/2KucRXF
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[3d-flip-book mode="fullscreen" urlparam="fb3d-page" id="5410" title="false"]
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American people in the stability of housing as a long term investment
https://bit.ly/2FXsK5n As the real estate market has recovered, so has the belief of the American people in the stability of housing as a long-term investment.
https://bit.ly/2jElfHU Utah Realty uses Cory Clayson of Amerispec
How to Pick A Real Estate Agent
How do I Pick a Real Estate Agent? 25,371 People with an Active Real Estate License ( Anyone that passes the State Test) 14560 People that are Realtors in Utah (These people need to adhere to a stricter code of ethics and belong to Utah Real Estate...
Housing Price Increase Puts Utah in the Top Ten
Utah ranks in the Top 10 states when it comes to the highest percent change in house appreciation, according to the House Price Index by the Federal Housing Finance Agency. The report noted that Utah home prices have appreciated 46.03 percent in the past...
Waiting to Buy a Home In Utah
If home prices appreciate by 5.2% over the next twelve months as predicted by CoreLogic, here is a simple demonstration of the impact that an increase in interest rate would have on the mortgage payment of a home selling for approximately...
How Much Has Your Value Increased
Do you currently own? Find out how much your home has gone up? Free market Value Report at: https://listings.utahrealtyplace.com/idx/homevaluation Just click and fill out the details of your home and we'll do the rest! https://bit.ly/2KucRXF
May Home Travel Food and Tips
[3d-flip-book mode="fullscreen" urlparam="fb3d-page" id="5410" title="false"]
Have all your friends moved away?
higher rates and home prices
Yikes! If you are thinking about buying but are going to wait, you need to read this! Utah Realty - Gale Team https://bit.ly/2HuUTCv
Utah top 5 states for Millennial home ownership
Way to Go Millennials! Utah is one of the top 5 states with the Highest Millennial Homeownership! Find or Sell a Millennial Home here>>>https://utahrealtyplace.com/ We go the extra mile to speak, Text, Instagram your language. Yes I know, facebook...
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