What is the Ideal Age for First -Time Home Buyers?

Real Estate

Currently, it seems that the magic number for first-time home buyers is 28.   Last month Bankrate.com produced a report with over 1,000 people that responded. The conclusion was that most Americans think a person should be age 28 when they own their first home.  

This could be a very optimistic in actuality, at least for buyers in today’s market. The National Association of REALTORS®’ 2017 Profile of Home Buyers and Sellers found the median age of first-time buyers was 32 years old for the second year in a row.

The Bankrate.com study found some difference of opinions between different genders and locations of the country. While one quarter of men voted people should plan to buy their first home by age 25, only 12 percent of women agree. People living in the Northeast seem to have lower expectations for first-time home buyers than other survey participants. Nearly one in five living in this area voted that the proper age to buy a home for the first time to be 35 or older, twice as many as any other areas.