Boston Real Estate for Sale

Advice for the young homebuyer

From The Real Estate Journal:

As soon as you graduate and land a job, you are supposed to move quickly to build up an emergency reserve, buy a house, fund your employer’s 401(k) plan and open an individual retirement account. Worthy goals? Certainly. Realistic? I don’t think so.

My advice: If you’re just out of school, don’t worry too much about saving for retirement and buying a house — and instead strive mightily to stay out of debt.

Great advice, if a bit too obvious.

And, here’s a statistic that young people are all too quick to forget:

With any luck, your post-college financial struggles will ease as you approach age 30 and start getting some decent salary increases.

Indeed, this is when you should be looking to buy your first home and start seriously saving for retirement. And, no, you won’t be late to the party.

The typical first-time home buyer is age 32, according to the National Association of Realtors, based in Chicago.

Exactly. It’s actually uncommon to buy your first home, if you’re still in your twenties.

If you are lucky enough to be ready to buy, or to want to buy, while still in your twenties, here are some tips to make your dream a reality:

Read on: Keep Your Financial Footing at 22 So You Can Buy That House at 32 – By Jonathan Clements, The Real Estate Journal

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