Illustration: Clay Laucella/Bankrate
Asia Ore wants to be a homeowner, but not right now. The 28-year-old has other priorities. That means adjusting to life as a new mother and widow, gradually paying off student loans, and charting a career path with a new master’s degree. She hopes to someday buy a home for herself and her son on solid financial footing.
Setting the stage for home buying
The road to homeownership is getting longer and longer, and I’m not alone in going even further than originally planned. Today, Bankrate reports that the median age of first-time homebuyers is 40 years old, an all-time high. Inventory, home prices, and borrowing rates can make homeownership feel far away for some Americans.
For people like Ole, sometimes it makes sense to prioritize immediate financial goals over a mortgage. After all, buying a home is as much a life decision as it is a financial one. The “wait and save” approach is on the rise, as is the median age of first-time buyers. But as Ben Clark, owner of Home Buyer Representation Inc. and president of the National Association of Exclusive Buyer Agents, points out, you could be missing out on value if you wait to buy a home.
Success is no longer defined by owning a home in your 30s.
— Liz Kichel, CFP®, CDFA®
What’s behind her home buying philosophy
Ole first moved there when her husband was stationed in Covington, Georgia. Unfortunately, he passed away in 2025, but Ole chose to remain in the area with his young son. They are currently renting a house, but she sees it as a stepping stone rather than a permanent stay. The property is managed by Quinn Residences, which rents it out to people like Ole who need more than an apartment but aren’t quite ready to own a home. “I’m still in the early stages of my career, so I don’t know where I’m going,” she says.
Having already gone through some major life changes, I’m taking a slower, steadier, more disciplined approach to ownership. What’s her plan? First, get a good student loan and then think seriously about your down payment. “I keep hearing people say 3.5% down, but honestly, I’d rather go down 20%,” she says. Additionally, you may want to prepay some of your monthly payments.
She worries that rushing into homeownership will hurt her and her son’s quality of life. If her water heater bursts or her roof leaks, she wants to be able to pay for it without resorting to a six-month ramen diet. Ole wants to make sure he has room in his budget for both emergencies and pleasures. “I don’t need to save up for two years to take my son to Disney World,” she added.
her dream of homeownership
Ole has other things to do, but homeownership remains her financial north star. “I want my son to be able to say, ‘I grew up here,'” she says. “I would like to leave him a legacy in some way, but I don’t think it’s necessary to do it now.”