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Buying a Home Early Can Significantly Increase Future Wealth

Jan 21, 2020

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).”

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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.. Click here to keep reading.

 



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