Advantages of Purchasing a Home Early
Buying a home early, in your 30s helps to prepare for a retirement, according to the Urban Institute study.
The good news is, our younger generations do believe homeownership. Both, the millennial and Get Z, plan to buy a home before age of 35.
Purchasing a home early, has a profound impact on retirement.
Currently there are homes and condos for sale in Boise and Treasure Valley that fit every budget. Let us help you find the right starter home and get you on the path of home ownership. Contact us today!
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.”
Contact your local Boise real estate professional - Krystyna Ryan - (208)918-5007 - to get detailed information on buying a home, getting a mortgage, timelines etc.