Buying a home is one of the most important decisions we can take in our life. The age factor plays an important role, and not only because of the job stability that defines the debt capacity and that is associated with maturity. In determining the best age to buy a home, there are also vital circumstances that can incline preferences towards buying or renting or towards a particular property.
What is the best age to buy a home?
If possible, better invest young
The best age to buy a house, always in ideal circumstances, would be in youth. Early investing allows you to think about long-term savings. Also, it is possible to benefit from state aid and attractive tax benefits.
For this, however, a stable income is required, and nowadays, it's not always easy to achieve that at an early age. On the contrary, economic circumstances, the inability to save and the difficulties to face a mortgage mark a different trend.
In recent years, job instability has raised the age at which we purchase our first home from 25-30 to 30-35 years. However, the profile of the typical buyer keeps being the same: people seeking to be independent who are mainly looking for second-hand homes in metropolitan areas.
In some cases, this delay is due not to the impossibility of emancipation, but to the choice of renting. It is a decision that allows you to save part of the fixed expenses of any house, savings that will be useful in the future to buy a home.
The average profile: buyer at 40
Under the current circumstances, the population from 35 years up presents the best conditions for buying a home. Better economic stability that allows borrowing and the availability of a small financial cushion make it possible.
But within that average profile of the best age to buy a house, there are also two different age ranges. On the one hand, those who, waiting for better opportunities, haven't yet invested in housing, and have similar preferences to the youngest.
On the other hand, there would be those who did buy a house and now think about replacement, maybe looking for a new, bigger home for a larger family or to be able to telework. In this case, peripheral districts are the favourites.
And after 50?
It may be the best age to buy a property when you already have a permanent home and want a second dwelling, or perhaps if you're looking to upgrade and make a new move. But there is a very different additional reason: to make the most of the economic stability to invest in a market, real estate, that can offer good returns.
Choose the right time
In conclusion, the best age to buy a home can vary greatly depending on work, financial and vital circumstances. Savings available, real debt capacity and personal or family needs are factors that definitively condition the decision to invest in real estate.