Benefits of Owning a Home at Any Age

Homeownership at Any Age

Owning a home is one of the best ways to build your wealth. There are many connections between your age and homeownership; depending on your age, owning a home can mean different things. When looking for a new home, keep these guidelines in mind to help make sure that you are in the right financial situation before you buy.

  • Millennials – as a millennial, you are probably just starting out, which makes it the best time to start saving for a down payment and getting a complete understanding of the different advantages of owning a home. Talk with a local real estate agent to learn more about the supply and demand of houses in your areas to ensure that you invest in the right home. The sooner you start saving for a home, the sooner you will be able to benefit from homeownership.
  • Gen X-ers – make sure that you have a solid plan to pay off your mortgage when you retire. If you are looking into refinancing your home to get lower rates, make sure that you choose a term that is less than 30 years. If you fell victim to the foreclosure crisis, there is no better time than now to re-enter the housing market. If you buy a home now, you will still have plenty of time to reap the benefits of homeownership over the years.
  • Boomers – start thinking about your retirement plans to ensure that they align with the time left of your mortgage. If you are looking into a second home, make sure to invest sooner rather than later so you can lock in the current low rates.

For all of your real estate needs so that you can start benefiting from homeownership in Contra Costa County, contact Cary Amo in Lafayette, California. As your Lafayette realtor, I can help you find your dream home.

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