Buying a first home is probably one of the most important and costly financial decisions of a person's life, which could help explain why the typical first-time homebuyer in the U.S. In the US, in general, people should pay less attention to the average age to buy a home and instead should focus on feeling ready, both financially and emotionally. The average credit score for a first-time homebuyer is 716, but you may qualify for a home loan if your score is lower than that.
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Once you have a clear idea of what you're spending, create a realistic budget. Remember to consider your monthly debts and leave room to save.
The average homebuyer is 45 years old, but about a quarter of buyers are over 30 years old. New homebuyers are typically younger than landlords who haven't moved in the previous year, but they're older than the general renting population, according to the Zillow report.
Buying a first home will likely be one of the biggest and most costly financial decisions of a person's life, which could help explain why the typical first-time homebuyer in the U.S. In the US, it is legal to buy a home without a co-signer at the age of majority, which is 18 years old in most states.