Business Bros – Episode 76 – Must Be 32 Years Old to Buy a Home

Thank you to all our listeners and those leaving 5 star reviews on iTunes. We are up to 26 five star ratings and 12 reviews! Special thanks to Marilyn Aguilar and Glitch1226 for your awesome reviews we very much appreciate it! In this episode we discuss why the average age of a home buyer is now 32 years old. We also give some advice to help curve that statistic for yourself and hopefully help you not only buy your first home but help you to reach overall financial freedom. Be sure to follow us on Facebook @SiasFirst to catch our Facebook Live coaching calls and join the conversation on Twitter @BusinessBrosPod. You can always schedule your free coaching call on our website www.SiasFirst.com, we look forward to working with you. Music by www.bensound.com. Must be 32 to buy a home According to Housewire.com the average age of a first time home buyer is 32 They earn $75,000 per year Put down 5% on $190,000 41% of them carry student loan debt with a typical balance of $29,000 DTI must be less than 40% Can’t get a mortgage if you leave college with one. Why is college so expensive? It’s easy to get financing, so they raise the price Is everyone meant to go to college No, but that is what they want you to believe It helps, yes but you should plan ahead and figure out a way to pay for it yourself. Payment options Pay as you go cash License and sell Start with JC Join military for 4 years then got to school GI bill Buy with a partner Roommates to help pay the mortgage Benefit from appreciation over time Set ground rules for future life (kids, marriages etc) Buy out of state Prices are less and learn to increase your income Build your portfolio before you buy your own home.