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.
The price has reduced for this Listing, check it out Listing Address: 614 W ANDERSON Murray, UT 84123
New Carpet! 4 Bedroom 2 Bath updated Murray home. Granite counters, multiple gathering spaces, hardwood floors, and a large yard. Conveniently located, close to freeway access, IMC, shopping, schools, and canyons.
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The price has reduced for this Listing, check it out Listing Address: 614 W ANDERSON Murray, UT 84123
New Carpet! 4 Bedroom 2 Bath updated Murray home. Granite counters, multiple gathering spaces, hardwood floors, and a large yard. Conveniently located, close to freeway access, IMC, shopping, schools, and canyons.
2025-27 Real Estate: Prices Rise 3.5% Yearly, Building Slows
US home prices are forecast to ↑ 3.5% annually through 2027, the slowest since 2011. Tariffs are expected to reduce construction of budget homes, with 90% of analysts predicting fewer builds
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Despite Fed rate cuts, 2025’s housing market remains a “stuck pig,” trapped by affordability and structural issues. Median home prices remain 4.2x median income; price gains forecast between 0.6% and 6.1% for 2025.
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Salt Lake City prices likely to flatten or dip as post-pandemic migration slows. New builds and resale listings ease supply crunch seen in boom years.
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Buying a home is a significant milestone that requires careful financial preparation. Before starting the process, assess your financial situation, pay down high-interest debt, and establish an emergency fund. Check your credit score and get pre-approved for a...
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Provide a comprehensive disclosure package before listing: Include seller disclosures, inspections, HOA documents, and a FAQ to inform buyers upfront.Promote open house opportunities: Utilize MLS tools to list open house dates and times, making it easier for buyers to...
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Listing in late spring, especially Mid-Q2, yields the highest sale premiums for home sellers. The holiday season is the weakest period — December 24, 26, and 31 show the lowest returns.
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To maintain your standard of living in Provo-Orem, you'll need a household income of $71,851. - Home Price: $604K - Apartment Rent: $1,531 - Total Energy: $164
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Buying a second home involves stricter mortgage rules and higher rates. Refinancing can optimize cash flow and change terms, rates, or release equity on rental properties. Conventional loans are required for cash-out refinancing on investment properties. Leveraging...
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