The median age of first-time homebuyers has skyrocketed from 28 in 1991 to 38 in 2024โthe highest in history.
Why? Affordability barriers. High interest rates. Rising down payments. The very idea of homeownership feels further out of reach than everโespecially for young professionals trying to break into the market.
At Burson Home Advisors, we believe homeownership shouldn’t be an exclusive club. Our Lease to Own first-time homebuyer programs help first-time homebuyers step into homeownership years sooner than traditional mortgage financing allowsโwhile saving thousands in upfront costs.
Why Are First-Time Homebuyers Getting Older?
Itโs not because younger buyers donโt want to own a home. In fact, 64% of first-time homebuyers say their primary reason for buying a home is to stop renting and start building wealth. But affordability hurdles are pushing them out of the market.
Hereโs whatโs changed in the last 30 years:
โ๏ธ Higher Down Payments โ In 1991, the typical down payment for a first-time homebuyer was 4%. Today? Itโs 9%โthe highest since 1997.
โ๏ธ Skyrocketing Home Prices โ The median home price has more than quadrupled in the past 30 years, making it harder to save for a down payment and qualify for a mortgage.
โ๏ธ Mortgage Rates Have Doubled โ Just three years ago, a first-time homebuyer could secure a mortgage at 3%. Now, rates exceed 7%, adding hundreds (or even thousands) to monthly payments.
โ๏ธ Rising Cost of Living โ Student loans, inflation, and stagnating wages make it harder than ever to save for a home while paying rent.
โ๏ธ Cash Buyers & Investors โ In competitive markets, younger buyers lose out to investors and cash-rich buyers who can waive contingencies and close quickly.
One More Cost Buyers Forget: Closing Costs & Buyer’s Agent Fees
On top of these challenges, most homebuyers donโt realize theyโll need to come up with thousands of dollars in closing costs and buyerโs agent commissions.
๐ฐ Closing Costs: Typically 2-3% of the purchase priceโmeaning a first-time homebuyer purchasing a $350,000 home would pay an extra $7,000โ$10,500 upfront.
๐ฐ Buyerโs Agent Commission: Often another 2-3% of the home price, another $7,000-$10,500.
๐ฐ Mortgage Insurance: If a buyer doesnโt put down at least 20%, mortgage insurance (PMI) adds hundreds per month and can total thousands per year.
With Lease to Own home programs, buyers avoid these costs entirely. Thatโs why our program is a no-brainerโit saves buyers thousands upfront while letting them build equity from day one.
How Our Lease to Own Home Program Puts First-Time Buyers Back in the Game
At Burson Home Advisors, we specialize in solutions designed to fast-track homeownership for first-time buyers.
โ๏ธ Own with Just 2% Down โ Our Lease to Own home programs require far less upfront than a traditional mortgage. No waiting years to save up.
โ๏ธ Build Equity From Day One โ Unlike a traditional mortgage, where most payments go toward interest for the first 18 years, our program ensures a portion of every payment builds your wealth immediately.
โ๏ธ Stable Monthly Payments โ Unlike rent or fluctuating mortgage rates, our payments stay predictable year after yearโoften lower than rent or a mortgage.
โ๏ธ No Mortgage Qualification Required โ Forget the endless paperwork, stringent lender requirements, and debt-to-income ratios. Our common-sense underwriting approach helps young buyers secure a home without needing perfect credit or years of tax returns.
โ๏ธ No Long-Term Commitment Until Youโre Ready โ Lock in your future home, start building equity, and purchase when the timing is rightโor cash out and walk away with your earnings.
โ๏ธ No Closing Costs. No Buyerโs Agent Commission. No PMI. Buyers save thousands compared to a traditional home purchase.
Renting vs. Lease-to-Own: The Real Cost of Waiting
Most renters donโt realize the true cost of waiting to buy a home.
๐ Rent is 100% interest โ Every rent check goes straight to a landlordโs pocket, with zero return.
๐ Home prices keep rising โ Whatโs affordable today could be out of reach in just a year or two.
๐ฐ Building Equity = Building Wealth โ Buying a home earlier means more time to build equity and increase your financial net worth.
Side-by-Side: Rent vs. Lease-to-Own vs. Traditional Buying
| Factor | Renting | Lease-to-Own | Traditional Mortgage |
|---|---|---|---|
| Upfront Cost | First & last monthโs rent + deposit | 2% down, NO closing costs | 3.5-20% down + closing costs + mortgage insurance |
| Monthly Payment | Rent (increases yearly) | Fixed payments, lower than a mortgage | Mortgage + taxes & insurance adjustment |
| Equity Building | โ None | โ From day one |
โ
Slowly! Mostly pay interest to bank first |
| Mortgage Required? | โ No | โ No | โ Yes (must qualify) |
| Closing Costs? | โ No | โ No | โ Yes (2-3% of home price) |
The Future of First-Time Homeownership Starts Here
At Burson Home Advisors, weโre redefining what it means to own a homeโmaking it more accessible, flexible, and financially sound.
Whether youโre a young professional, self-employed, or simply struggling to break into the market, our Lease to Own home programs eliminate barriers and put homeownership within reach.
And the best part? We can proveโthrough side-by-side comparisonsโthat buying your home through our Lease to Own home programs builds equity faster and costs less than buying traditionally.
Want to see the numbers for yourself?
๐ Schedule a Free ConsultationโWeโll walk you through the numbers, the benefits, and how this could be your smartest step toward homeownership.
Letโs change the narrativeโhomeownership isnโt out of reach. It just takes the right approach.
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