Why the Average First-Time Homebuyer is Now 38—and How You Can Beat the Odds
In 2024, the median age of a first-time homebuyer hit 38 years old, according to the National Association of Realtors. That’s the oldest on record. Just a generation ago, most people bought their first home in their late 20s.
Waiting that long doesn’t just delay the dream of homeownership—it also pushes back the chance to start building generational wealth. But here’s the good news: with the right tools and a little discipline, you don’t have to wait until nearly 40 to buy your first home.
Why Are People Buying Homes Later?
There are several factors at play:
Rising home prices that outpace income growth
Student loan debt and other credit obligations
Stricter mortgage requirements for stable jobs and strong credit
Lifestyle shifts, with marriage and family milestones happening later
These challenges are real—but they aren’t the end of the story. The earlier you start preparing, the sooner you can buy.
The Power of Starting Young
The biggest difference between someone who buys in their 20s and someone who waits until nearly 40 comes down to one thing: preparation.
One of the most powerful tools you can use is a Roth IRA. While most people think of it only as a retirement account, it also allows you to withdraw contributions (and up to $10,000 of earnings) for a first-time home purchase—penalty-free.
Imagine this:
Start investing just $25 a week at age 18 → by 28 you could have around $18,000–$20,000 (assuming a 7–9% return).
Start at age 28 and by the time you are 38 years old you would have the same amount but you would older.
The difference? 10 years of lost opportunity.
Tools to Get Started Today
1. SoFi Invest
SoFi makes it simple for beginners with both automated investing (robo-advisors) and active trading if you want to pick your own funds. You can even open a Roth IRA directly through them.
👉 Get started with SoFi HERE
2. Acorns
Acorns is perfect if you feel like you don’t have “extra” money to invest. It rounds up your everyday purchases and invests the spare change automatically. That means every coffee, grocery trip, or gas purchase helps you get closer to homeownership.
👉 Start investing with Acorns HERE
Step 1, Step 2, Step 3
Open an account—Roth IRA, SoFi, or Acorns, whichever feels most doable.
Automate contributions—Even $15 a day (about $75 a week) adds up fast.
Track progress—Celebrate small milestones and remember: consistency beats perfection.
Don’t Wait Until 38
The average first-time homebuyer may be nearly 40, but you don’t have to be. Start early, use the right tools, and you could be in a position to buy before 30.
The bottom line? Every dollar you save and invest today is buying you freedom tomorrow.
Affiliate Disclosure
This article contains affiliate links. If you sign up for SoFi or Acorns using the links provided, Path to Prosperity may earn a commission at no additional cost to you. We only recommend tools we believe can help you on your journey to financial growth. I am not a licensed financial advisor. Investing involves risk, including the possible loss of principal. Always do your own research before making financial decisions.
