Most Americans apparently think the ideal age for buying your first home is 28, according to a new Bankrate.com report. While that may be the ideal age in theory, the median age of actual first-time homebuyers was 32 for the second year in a row, according to the National Association of Realtors.
Men and women think differently… 25% of men think that they should aim for buying their first home by age 25 while only 12% of women think the same.
It also varies by location. Nearly 20% of people in the Northeast think the right age to buy for the first time is 35 year or older… twice as many as any other region.
Regardless of averages, your magic age is whenever you are ready to buy. I have been surprised by the number of older first-time home buyers I have worked with… now working with an excited first-time home buyer who is 59!
