First, a disclaimer: You should, of course, live your life on your own timeline. But, if you were curious about the median age of homebuyers, a snapshot from the National Association of Realtors reveals that it’s 32. To get super specific… the average household income of the median homebuyer is $75,000, their homes were 1,640 square feet, and they spent $190,000 on their first property. (If that price tag seems low, note that only 17 percent of the first-time homebuyers purchased in urban areas).
Again, and we’re really driving this home, you should buy a home when it makes sense for you. (In fact, here are good reasons to not buy a house).
But if you do want to use age 32 as a rough target age for becoming a homeowner, you can start taking some financial steps to get there—no matter if that means planning to buy a house in six months or a decade.
We asked financial experts to lend their best advice for syncing up your finances with your home-buying timeline. Here are the money moves you should be making if you are aspiring to be a homeowner.
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