Are You Too Old to Buy a House?
Is there an age at which the dream of home ownership has passed? Absolutely not! However, when you're buying a home later in life, you have different considerations to make or your dream home could turn into a nightmare.
Many baby boomers and even older seniors are becoming first-time homeowners. According to the 2017 NAR Homebuying Report, almost a quarter of first time home buyers were over 52 years old. Thirty percent of all home sales in 2016 were made by baby boomers age 52-70, and 8% of home purchases were made by seniors age 71-91.
With this many older buyers, you're in good company. However, is buying the right choice for you? Consider the following issues when making this decision.
Source: Fool.com
