Are You Too Young to Buy a House?

Dusty Rhodes • November 25, 2024

Owning a house is often a symbol of financial security. However, purchasing a home requires a young buyer to navigate new financial hurdles and lifestyle commitments. The process can be daunting if you’re trying to balance rising housing costs with a new career and obligations like student loan debt. 


If you’re ready to start house hunting, this article will help put you on the path toward homeownership. 


Is There a Minimum Age for Homeownership?


In most states, you must be 18 to own a house. In Alabama and Nebraska, you must be 19, and in Mississippi, you must be 21. 


Someone younger could technically have their name put on a home title, such as in the case of inheritance. However, most states don’t allow minors to own, manage or sell a home until they reach the age of majority. 


What Is the Average Age to Buy a House?


The median age of first-time homebuyers has reached an all-time high of 38, according to the 2024 Profile of Home Buyers and Sellers from the National Association of Realtors (NAR).


That’s roughly a decade older than the average age in the 1980s when most first-time buyers were in their late 20s.


Overcoming Financial Hurdles: Challenges for Young Homebuyers


These are the common obstacles that young homebuyers may face when trying to break into the real estate market.


  • Down payment and closing costs: Many buyers can put down as little as 3% to 5% to secure a home loan. However, a down payment and closing costs can pose a significant barrier to entry for young people. The Federal Reserve Bank of St. Louis indicates that the median home price in the U.S. is $420,400, which means a 3% down payment would be $12,612.
  • Your credit score: Regardless of age, one of the most significant challenges to homebuying is getting a good interest rate. A low interest rate will hinge on a good credit score, which takes time to build. Many young people may only just be opening their first credit cards in their late teens and early 20s. A short credit history can also hinder a lender’s willingness to issue a mortgage. 
  • Debt-to-income ratio: A young person who is just starting their career may not have a very high salary and could still have personal, student or car loans to pay off. Lenders will want to see a good debt-to-income ratio when providing a mortgage. 


Advantages of Being a Young Homebuyer


Purchasing real estate at a young age has many benefits, including building equity in your home and the potential for its value to appreciate over time. 


The Financial Benefits of Early Homeownership


Real estate is an investment that reliably appreciates over time. Those who buy young can often build more equity over the lifetime of their investment. 


“Every time you wait to buy, there is a gap in pricing,” explains Nikola Cejic, a real estate agent in East Hampton, New York, who purchased his first home while in high school. “Those who wait keep chasing the market and falling behind.” 

Homeowners are eligible for more significant tax advantages than renters. They can often write off home-related expenses, including state and local real estate taxes and home mortgage interest. 


Buying a Home Is a Long-Term Investment 


Real estate is America’s favorite long-term investment, according to Gallup. Compared to stocks or gold, it continues to be the primary way Americans invest. Investing in a home also gives you a tangible asset to pass on to future generations. 

NAR research reveals similar findings in its 2024 Profile of Home Buyers and Sellers:

  • 79% believe a home purchase is a wise investment
  • 39% said buying a home is better than owning stock


Predictable Costs: The Stability of Mortgage Payments


Unlike rent, your mortgage payment will be the same every month for the life of the loan. NAR indicates that 91% of first-time buyers finance their home purchase, and a mortgage is often the most costly payment an owner will make. As a result, many people find value in knowing exactly what they’ll pay every month.


However, some hidden costs of homeownership will continue to rise. These include utilities, property taxes, homeowners insurance and maintenance. Residents of homeowners associations may also see their fees increase over time.


Life Planning


Buying a home is often considered an excellent financial investment, but it’s also an investment in your lifestyle. Many homeowners prefer to own simply because it allows them more control over their residence, from paint and interior design to building a shed in the backyard. A home can also provide a sense of stability for families. 


Potential Drawbacks for Young Homebuyers 


While buying young can have significant financial benefits for those who can afford it, it’s common for young people to experience uncertainty in the future. 


Financial Strain: A Major Hurdle for Young Homebuyers 


It’s very common for young people to experience financial hardship. For those who pursue a degree, the average federal student loan borrower has over $37,000 in debt. On top of that, those who are new to the workforce typically have not reached the salaries of those 10 or more years into their field. 


The upfront costs associated with homebuying, including the down payment and closing costs, are often cited as the most significant barrier to entry. Additionally, being a homeowner means you are on the hook for any maintenance required on the property.

“You have a lot more maintenance to manage, whether that’s hiring someone or doing it yourself,” says Nikki Taylor Friedman, a real estate agent in Huntington, New York, who purchased her first home at age 25. “In addition to the mortgage payment, there are additional costs. You’re going to have to pay for wifi and utilities wherever you live, but when you own you have to pay for the landscaping, painting and staining, if a window breaks – those things are your responsibility.” 


Lifestyle Limitations: The Trade-offs of Early Homeownership


Buying a home ties you more closely to a specific geographic area. If you’re seeking a new job opportunity, relocating may be more challenging as you’ll need to either rent your home or prepare it for sale. 


Uncertainty of the Future


Young people commonly don’t have a clear understanding of what their future holds. 


“If you’re looking to purchase and you’re not sure what your life is going to look like in five years, maybe buying a big single-family home is not the ideal situation for you,” Friedman says. “But there are many ways to look at it. Can you sell and make a profit? We’ll never know what the market will look like five years from now, but we can look at the history of the cycle and determine whether or not this is going to be a good long-term investment for the buyer.” 


Are You Ready to Buy a Home?


Ultimately, whether or not you’re too young to purchase a home has more to do with financial and lifestyle readiness than age alone. 


Financial Stability


Thoroughly evaluate your finances before starting the search. You must understand your income, debt-to-income ratio, credit score and savings if you plan to buy a home. 


“You don’t want to be cash poor and on-paper rich,” Cejic says. “You don’t want to overextend yourself.” He suggests that your fixed monthly expenses should not exceed 33% of your income. This includes the monthly mortgage payment, insurance and property taxes, as well as any outstanding debt, such as student and car loans. Having three to six months of living expenses in savings is also wise. 


Lifestyle Considerations


Consider your lifestyle and what you want in a home before starting your search. This includes factors such as location, home type and the number of bedrooms and bathrooms. It also means evaluating whether or not you’re prepared to take on the financial responsibility of homeownership and property maintenance. 


If you are in a relationship, you and your partner must discuss your needs and wants and your long-term financial and lifestyle goals. 


Speak with the Experts

Purchasing a home is a significant financial decision. Consider speaking with a financial advisor or lender to determine if you’re ready to buy. Familiarize yourself with the steps involved in getting a mortgage. Consult local builders, real estate agents, and trusted friends and family who’ve recently purchased property in the same area. 


Don’t Feel Pressure to Buy 

There is often external pressure to purchase a home. Sometimes, this comes from family members, but it can also come from peers. You must feel confident in your decision to buy a house. If the desire mostly comes from a need to impress others, it’s worth it to reconsider. 


Alternatives to Homeownership


If you cannot afford the purchase price of a single-family home, or it’s simply not the right time, there are alternatives.


  • Living with family: If you have a family member you can live with, doing so can help you save money to purchase a home in the future. 
  • Renting: Renting is an excellent option if you aren’t ready for homeownership or want to live a more urban lifestyle. 
  • Multi-family residences: If you can’t afford a single-family home, consider purchasing a condominium or townhome. 
  • Buy with a friend: Cejic says, “If you and your best friend have been renting together, why not go in on a home together and put it in an LLC or a trust? It will build equity for you both, then later down the line you can sell and purchase on your own.” 


A rent-to-own property is an alternative that buyers will likely not be able to find in today’s housing market. Rent-to-own refers to a legal arrangement where a tenant pays rent to a landlord and can purchase the property later. “Sellers aren’t looking for that option right now,” Friedman says. “They don’t have to rent because they can find a buyer who could buy flat out.” 


The Bottom Line: When Do People Buy a House?


Ultimately, the decision to buy a home has less to do with age and more to do with your circumstances and financial goals. While the dream of homeownership can be enticing, it’s crucial to weigh the pros and cons carefully. You must understand the financial implications, lifestyle considerations, and potential challenges to help you make an informed decision.



Source: Homes.com



Dusty Rhodes Properties is the Best Realtor in Myrtle Beach! We do everything in our power to help you find the home of your dreams. With experience, expertise, and passion, we are the perfect partner for you in Myrtle Beach, South Carolina. We love what we do and it shows. With more than 22 years of experience in the field, we know our industry like the back of our hands. There’s no challenge too big or too small, and we dedicate our utmost energy to every project we take on. We search thousands of the active and new listings from Aynor, Carolina Forest, Conway, Garden City Beach, Longs, Loris, Murrells Inlet, Myrtle Beach, North Myrtle Beach, Pawleys Island, and Surfside Beach real estate listings to find the hottest deals just for you!

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What Stays With the House When You Move?

By Dusty Rhodes • March 30, 2026
When you’re selling your home , it is natural to assume that anything you can safely remove is yours to keep—like the light fixtures you painstakingly cleaned and repaired, or the appliances you bought last year. But the truth is, the buyer may want some of those items, too, and sometimes it's better to part ways with these items for the sake of the sale. Rather than keep everything, you should decide what you'd like to keep and what you'll leave behind as a way to entice buyers into making an offer, particularly in today's market where buyers are holding more of the cards than ever. What stays with the house? Generally, certain items stay with the house when you sell and move. Some features may seem obvious, but the truth is, you're probably expected to leave more behind than you think. Some of these items can include: Built-ins: Built-in bookshelves, benches, and pull-out furniture generally stay inside the home. Landscaping: Trees, shrubs, and any flowers planted in the ground should stay in the yard. Wall mounts: If you have TV wall mounts or picture mounts that might damage the wall if you remove them, it is a good idea to leave them in place when you move. Custom-fit items: If you have custom-made curtains , plantation shutters, or blinds, leave them on the windows and doors. Hardware : If you upgraded the knobs and drawer pulls in the bathrooms and kitchen, you should either leave those behind or install replacements before you move. Alarm systems : Wireless alarm systems are designed to be removed. Otherwise, leave the alarm monitoring station attached and either relocate or cancel the monitoring service. Smoke detectors : Smoke detectors and sprinkler systems should stay in the house, especially if you plan to move before selling the house. What can you take? While you’re expected to leave some items behind, in general your belongings are yours to keep. Here are some examples: Patio furniture, lawn equipment, and play sets : If you have a wooden swing set in the backyard and a bistro table on the front porch, take those items with you. Appliances : Some lenders require that a home have an oven installed before approving a loan, but for all other appliances, it's up to you to decide what you will take and what you will offer as part of the home. Some light fixtures : Generally, homeowners leave light fixtures behind, but if you’re attached to a certain fixture, you can make arrangements with the buyer to take it. Built-in kitchen tools : If you can safely remove a mounted spice rack or the pasta arm, you can take it with you. Rugs, basic curtains, wreaths : Small decor items like rugs or curtain rods that can be safely removed can be taken. What should you consider leaving? Some of your personal items can be used to help sell your house—or increase the asking price. Before you take everything just to take it, consider offering some hot items like the following: Appliances : Homeowners, especially new homeowners, don’t always have their own appliances. Many buyers would be more likely to place an offer on a home if it came fully stocked with appliances. Custom swing and play sets : If you have a swing set or playhouse your children have outgrown and you notice a potential buyer has children, offer to include the item with the deal. Kitchen built-ins : Built-in spice racks, pantry organization, and windowsill shelves can really help sell a kitchen. Consider offering the items to an interested buyer. Light fixtures, curtains, rugs, and other upgrades : If you’ve upgraded the light fixtures or have custom rugs in the entryway, a buyer may be willing to increase his or her offer to keep those items in the home.  If you’re not sure what would entice a buyer, ask your real estate agent to provide suggestions. Don't have an agent yet? Here's how to find a real estate agent in your area.

Top Mistakes Homeowners Are Making in 2026 (And How To Avoid Them)

By Dusty Rhodes • March 23, 2026
Let’s be clear: selling your house is absolutely possible right now. According to the National Association of Realtors (NAR), roughly 11k homes sell every day in this country. And the sellers who are making their moves happen all have one thing in common: they’ve adjusted their strategy to match today’s market. They’re realizing inventory has grown. Homebuyers are more selective. And buyer expectations are higher. The sellers who struggle are usually approaching today’s market with yesterday’s expectations. Here are the three biggest mistakes they’re making – and how to avoid them. 1. Pricing Based on What Their Neighbor Got a Few Years Back Setting your price is the most important decision you make when you sell – and the one that’s most often mishandled. Realtor.com data shows almost 1 out of 5 sellers in 2025 had to drop their price. Here’s what those sellers went wrong. Buyers have more choice and more negotiating power now that inventory has grown. And house hunters will actively avoid your house is if feels like it’s priced too high. That’s why overpricing usually leads to: Fewer showings Less competitive (or lowball) offers Longer time on market And all three of those side effects are things you don’t want to deal with. What To Do Instead: The good news is the cure is simple. Just price for today’s buyer, not yesterday’s headlines. Lean on your agent’s knowledge of recent comparable sales, current competition, and local buyer behavior to land in the value “sweet spot” that drives traffic and urgency from day one. 2. Trying To Skip Repairs That Buyers Now Expect A few years ago, you could sell as-is and still get well above asking. Today? Not so much. Right now, NAR says two-thirds of sellers are making at least some repairs. And the reason why is simple. In a market with more inventory, buyers compare homes side by side. Homes that don’t show well (or feel dated) are going to lose attention quickly, even if the issues are minor. What To Do Instead: Ask your agent which high-impact, low-stress updates they’d recommend for your house. The goal isn’t perfection. It’s helping buyers see themselves moving in without a mental to-do list. Small investments in staging, repairs, and curb appeal can make a huge difference in how quickly offers come in – and how strong those offers are. 3. Playing Hardball When Buyers Try To Negotiate Today’s buyers have housing affordability at the top of their minds. And since money is already tight, they’ll be pickier and will probably ask for some compromises from you. Whether that’s making repairs, giving them a credit at closing, or taking just a few thousand dollars off your asking price, negotiating is normal again. So, if something pops up in the inspection, you’re going to need to be open to talking about it. If you’re not, you may very well see your buyer walk away. And some sellers are figuring this out the hard way. Redfin data shows one of the big reasons home sales fell thru in 2025 was inspection or repair issues. Odds are those homeowners weren’t willing to flex a bit to get the deal done. What to Do Instead: Meet with your agent to make sure you understand what buyers in your area care the most about. Align your price with value, present the home clearly and confidently, and stay open to reasonable negotiations that keep deals moving forward.

10 Aging-in-Place Features Pros Swear By

By Dusty Rhodes • March 16, 2026
They’re often called aging-in-place features, but things like curbless showers, nonslip flooring and wide walkways and doorways can benefit everyone, no matter their age or ability. “Regardless of aging in place, there is a place for these in day-to-day life, whether it be a teenager on crutches, a family member having had surgery, active kids,” designer Dana Bass says. “It’s not just about aging in place. We’ve got to account for unplanned life emergencies.” Designer Tammy Battistessa of Ellaire Kitchen & Bath Design agrees. “Whenever possible, I include aging-in-place and universal design features in every project, as I believe many of these features benefit clients of all ages and abilities, in addition to allowing a client to safely remain in their home for a longer period of time,” she says. Creating a home that can adapt also makes it more sustainable. “Aging in place is a key element to making legacy homes that can evolve over time,” architect Tim Barber says. With all that in mind, we asked more than 50 home design and construction professionals to share the aging-in-place features they always recommend. Here are the 10 that came up again and again. 1. Wide Walkways and Doorways Planning ahead is one of the most important steps when incorporating aging-in-place features. Many of these elements require thoughtful design and construction, so it’s wise to start early — and to consider hiring professionals who understand the nuances. “Thinking through how you will really use the space makes all the difference,” designer Haiku Durden of HDS Design says. “Having a designer involved really makes a difference.” A professional can help you create a plan that works for your current needs and anticipates future ones. “We currently default to aging-in-place features when our clients are near retirement or retirement age,” says designer Jenny Guggenheim of Guggenheim Architecture and Design Studio . “Preplanning by adding blocking behind the wall finish, spacious floor planning to allow for wheelchair or walker use.” In fact, spacious layouts are among the most commonly recommended aging-in-place strategies. Wide walkways and doorways — and generous clearances around furniture and fixtures — make it easier for anyone to move through the home comfortably. Installing a continuous flooring material throughout also reduces tripping hazards caused by changes in height or texture between rooms.