Buying A Home In Your 20s, 30s, And 40s

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Every stage in your life brings changes and different needs.  We have considered the lifestyle changes for your 20s, 30s, and 40s to support your home buying decision.


  • Make a broad plan.   Budget your finances and pay yourself first, then your bills, and use the remainder for fun.  “If you have nothing left over for fun, then cut your bills or find a way to earn more money,” says Clark Bowman of Coldwell Banker Residential Real Estate. in Sarasota, FL.  Ask your real estate agent about FHA loans with a 3.5% down or conventional loan with 5% down.  Save $5000-$10,000 and get into the home of your dreams.  

  • Complete your pre-approval process early.  

  • Check your credit report. is one of our favorites, but there are plenty of sites out there that will get you on the right track.  

  •  Everyone likes something new New homes need much less maintenance and should not need any major improvements for years to come. They also are more energy-efficient and save on your energy costs. Plus, many builders offer help with closing costs and have different financing options with their preferred lenders. But there are other benefits too. Your homeowners insurance could be cheaper as well.

  • Be prepared to furnish your home, buy lawn equipment, and any other incidentals.  ake sure you have a financial cushion for unexpected costs. In your 20s, saving your down payment can be a strain.  Be sure to ask about a home warranty — even if you’re buying a new construction.  The home warranty covers the repair and replacement of home systems and appliances. 

  •  Think Long Term . In order to build equity, anticipate living in your new home for at least 5 years.  This may help you secure a profit on your investment when you sell. 

    Life in your 30s

  •  Reevaluate your priorities. Think about how much space you need, and don’t be excessive.  In your 30s, you are beginning to settle down.  If you have kids, consider the school district and commute to work.

  •  If you’re already a homebuyer, strategically sell and purchase with enough time to make the moving process easier. 

Your 40s: Reassess your needs

  •  Depending on the size of your household, be sure to make suit your needs.  If you have older kids that will “leave the nest” soon, downsizing may be appropriate. 

  • PAY OFF THAT MORTGAGE!!  Maybe even consider investing in real estate. If you can afford to buy a second home in a resort area, renting it out can generate additional income and an opportunity to enjoy the property yourself.  Technology has made marketing, renting, and selling your that much easier.  Take advantage of it!

Learn more tips, via Trulia
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