Buying a Home Early in Life Can Increase Future Wealth

Buying a Home Early Can Significantly Increase Future Wealth

Buying a Home Early Can Significantly Increase Future Wealth | MyKCM

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 | MyKCMIf 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 | MyKCMAlthough 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.

Getting Ready to Sell My Home, Can I Take My Firearms?

Getting Ready to Sell My Home, Can I Take My Firearms?

by | Apr 25, 2018 |

Before moving out of Utah Beware of other States Gun Laws! Read the fine print. If you are moving out of the State of Utah and have Firearms check that State firearm law. Some states will arrest you and charge you for having a firearm in your vehicle....

midway townhome swiss alpenhof Heber Utah

midway townhome swiss alpenhof Heber Utah

by | Apr 2, 2018 |

New Price !    $498,000 Town Home in Scenic Midway Utah Located in the Swiss Alpenholf Planned Unit Development 4775 Square Feet with 4 bedrooms, 3 baths 3 family rooms. Back yard with mountain views. About Midway Midway is a city in Wasatch County, Utah, United...

Getting Ready to Sell My Home, Can I Take My Firearms?

Existing Home Sales on the Rise

by | Mar 26, 2018 |

  Existing-home sales rose slightly during February after two consecutive months of regression. Total existing-home sales increased by 3 percent last month to a seasonally-adjusted average of 5.54 million, according to the National Association of...

Getting Ready to Sell My Home, Can I Take My Firearms?

Getting Ready to Sell My Home, Can I Take My Firearms?

by | Apr 25, 2018 |

Before moving out of Utah Beware of other States Gun Laws! Read the fine print. If you are moving out of the State of Utah and have Firearms check that State firearm law. Some states will arrest you and charge you for having a firearm in your vehicle....

midway townhome swiss alpenhof Heber Utah

midway townhome swiss alpenhof Heber Utah

by | Apr 2, 2018 |

New Price !    $498,000 Town Home in Scenic Midway Utah Located in the Swiss Alpenholf Planned Unit Development 4775 Square Feet with 4 bedrooms, 3 baths 3 family rooms. Back yard with mountain views. About Midway Midway is a city in Wasatch County, Utah, United...

Getting Ready to Sell My Home, Can I Take My Firearms?

Existing Home Sales on the Rise

by | Mar 26, 2018 |

  Existing-home sales rose slightly during February after two consecutive months of regression. Total existing-home sales increased by 3 percent last month to a seasonally-adjusted average of 5.54 million, according to the National Association of...

[mlcalc default=”mortgage_only”]

Pin It on Pinterest

Share This