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.
Grant Money for Down Payment
Grant Money you don't have to pay back? WOW! We will have several 5K grants that may be applied to the down payment. Grant money will be available in mid-January, so start lining up your clients. There will be a limited number and will be awarded...
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Welcome Tanna Barker New Associate with Utah Realty
Press Release, Utah Realty is incredibly pleased to announce that Tanna Barker, a new real estate agent has joined our team. We are excited to work with her and know you will be too. Tanna has over 20 years of experience working with...
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https://gateless.com/articles/get-listings/home-sales-tumble-as-inventory-wanes?CampaignId=492
October Issue of Enjoy Magazine
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MCNE
Utah has 23 Master Certified Negotiation Experts I am glad to be one of them.
For Sale Town Home 339 N 1400 W Midway Utah 84049
Located west of Homestead Drive. Turn west on to Swiss Alpine Rd. Left on 1320 West. Right on 365 North. Nestled in the foothills of midway with scenic views of Heber Valley and the Wasatch back. This spacious home has a large island kitchen, main floor master suite,...
Grant Money for Down Payment
Grant Money you don't have to pay back? WOW! We will have several 5K grants that may be applied to the down payment. Grant money will be available in mid-January, so start lining up your clients. There will be a limited number and will be awarded...
Salt Lake County Top 10 Highest Price Cities
Price of Salt Lake Homes Hits New High The price of a single-family home has increased to its highest point ever before, according to the Salt Lake Board of Realtors®. In the July-August-September quarter, the median price of a Salt Lake...
How Long are Sellers Staying in Their Homes?
Welcome Tanna Barker New Associate with Utah Realty
Press Release, Utah Realty is incredibly pleased to announce that Tanna Barker, a new real estate agent has joined our team. We are excited to work with her and know you will be too. Tanna has over 20 years of experience working with...
Salt Lake County Housing Stats for August 2017
Home Sales Tumble as Inventory Wanes
https://gateless.com/articles/get-listings/home-sales-tumble-as-inventory-wanes?CampaignId=492
October Issue of Enjoy Magazine
October Issue Enjoy Magazine 2017
September Issue of Enjoy Magazine
Complements of Guaranteed September Issue Enjoy Magazine Rate
MCNE
Utah has 23 Master Certified Negotiation Experts I am glad to be one of them.
For Sale Town Home 339 N 1400 W Midway Utah 84049
Located west of Homestead Drive. Turn west on to Swiss Alpine Rd. Left on 1320 West. Right on 365 North. Nestled in the foothills of midway with scenic views of Heber Valley and the Wasatch back. This spacious home has a large island kitchen, main floor master suite,...
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