Want To Build Wealth Buy A HomeAnd Buy It Early

Dated: 09/23/2019

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It’s safe to assume that pretty much everyone wants to build wealth—and continue to build wealth throughout their life. But how, exactly, do you do that? According to the data, you build wealth by buying real estate—and buying it early.

According to a report from the Urban Institute, homeowners who purchase property early build more wealth by their sixties than homeowners who wait until later in life to buy a home. The homeowners who get the most bang for their buck? Those who purchase their home between the ages of 25 and 34. By age 60 or 61, these homeowners have a median home equity of close to $150,000, which is $72,000 more than homeowners who purchase property between the ages of 35 and 44 and a whopping $100,000 more than homeowners who wait to buy real estate until after the age of 45.

The Takeaway:

The earlier in life you buy a home, the more wealth you’ll have accumulated by the time you’re ready to retire. And no matter how old you are today, you’re not getting any younger. So if you’ve been thinking about purchasing a home, there’s no better time than right

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Kelly Chewning

My name is Kelly Chewning and I am a native of Fredericksburg, Va., born and bred. I grew up in the 80’s when Fredericksburg was a small rural town, and I had the joy of evolving from a child to an ....

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