The median age of first-time homebuyers has skyrocketed from 28 in 1991 to 38 in 2024—the highest in history.
Why? Affordability barriers. High interest rates. Rising down payments. The very idea of homeownership feels further out of reach than ever—especially 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 allows—while saving thousands in upfront costs.
Why Are First-Time Homebuyers Getting Older?
It’s not because younger buyers don’t 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.
Here’s what’s changed in the last 30 years:
✔️ Higher Down Payments – In 1991, the typical down payment for a first-time homebuyer was 4%. Today? It’s 9%—the highest since 1997.
✔️ Skyrocketing Home Prices – 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.
✔️ Mortgage Rates Have Doubled – 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.
✔️ Rising Cost of Living – Student loans, inflation, and stagnating wages make it harder than ever to save for a home while paying rent.
✔️ Cash Buyers & Investors – 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 don’t realize they’ll need to come up with thousands of dollars in closing costs and buyer’s agent commissions.
💰 Closing Costs: Typically 2-3% of the purchase price—meaning a first-time homebuyer purchasing a $350,000 home would pay an extra $7,000–$10,500 upfront.
💰 Buyer’s Agent Commission: Often another 2-3% of the home price, another $7,000-$10,500.
💰 Mortgage Insurance: If a buyer doesn’t 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. That’s why our program is a no-brainer—it 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.
✔️ Own with Just 2% Down – Our Lease to Own home programs require far less upfront than a traditional mortgage. No waiting years to save up.
✔️ Build Equity From Day One – 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.
✔️ Stable Monthly Payments – Unlike rent or fluctuating mortgage rates, our payments stay predictable year after year—often lower than rent or a mortgage.
✔️ No Mortgage Qualification Required – 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.
✔️ No Long-Term Commitment Until You’re Ready – Lock in your future home, start building equity, and purchase when the timing is right—or cash out and walk away with your earnings.
✔️ No Closing Costs. No Buyer’s 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 don’t realize the true cost of waiting to buy a home.
📉 Rent is 100% interest – Every rent check goes straight to a landlord’s pocket, with zero return.
📈 Home prices keep rising – What’s affordable today could be out of reach in just a year or two.
💰 Building Equity = Building Wealth – 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 month’s 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 | ❌ None | ✅ From day one |
✅ Slowly! Mostly pay interest to bank first |
| Mortgage Required? | ❌ No | ❌ No | ✅ Yes (must qualify) |
| Closing Costs? | ❌ No | ❌ No | ✅ Yes (2-3% of home price) |
The Future of First-Time Homeownership Starts Here
At Burson Home Advisors, we’re redefining what it means to own a home—making it more accessible, flexible, and financially sound.
Whether you’re 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 prove—through side-by-side comparisons—that 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?
📞 Schedule a Free Consultation—We’ll walk you through the numbers, the benefits, and how this could be your smartest step toward homeownership.
Let’s change the narrative—homeownership isn’t out of reach. It just takes the right approach.
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