Turning 30 just got that little bit sweeter.
“It is well for the world that in most of us, by the age of thirty, the character has set like plaster, and will never soften again.” William James
There are MANY memes around turning 30. The dreaded milestone that so many men and women fret over. Whilst researching inspirational quotes to encourage friends with upcoming birthdays, I discovered the awesome fact that, now, the average age for buying a property is over 30 in all regions of the UK. Buying your first home is a brilliant achievement and one that is, quite rightly in my opinion, saved for your thirties.
Screw society’s “normal” timeline. What even is normal these days? The pressure of society and the responsibilities of our complex modern life make it impossible to stick to a generalised timeline. Nowadays, so many milestones have been pushed back to fit with individual lifestyles. Renowned fashion designer Vera Wang didn’t design her first dress until she was 40. Henry Ford was 45 when he created the revolutionary Model T car in 1908. Writer Harry Bernstein authored countless rejected books before getting his first hit at age 96. Susan Boyle’s life was transformed into one of an international singing phenomenon when she was 48! The point being, you still have time. Don’t be disheartened if you haven’t bought your first property before your 30th birthday.
Here are some hard facts to encourage you:
According to Halifax, the UK’s biggest mortgage lender, the national average for a first home purchase has risen to 32 in 2021 (from 29 in 2011), and was above 30 for every region. The average age remains highest in London, at 33, although it has only risen by a year in the past decade.
Despite 2021 being a record year for growth in first time buyers, rising average house prices has meant people are waiting longer to become homeowners than in previous generations.
Esther Dijkstra, a mortgage director at Halifax, says the difficulty of raising a deposit, rising property prices and changing lifestyle factors is pushing back the date at which people bought their first home.
“Over time more people have chosen to go on to higher education, go travelling, or move around for work, which are all factors in the increase in first-time buyer age” Esther Dijkstra
So to sum up – do not be put off by the pressures of society to follow a “normal” timeline to hit milestones. Do you. There is no normal.
It’s important to speak with a mortgage advisor about your specific situation when you’re thinking about buying a house. We have access to a huge range of different lenders, all with their individual strengths. It is our job to help source the right mortgage for you.
Whenever you’re ready – we’re ready to help
Contact Go2Mortgages
If you are looking for some advice for the next step, please do not hesitate to get in touch. go2mortgages are a family business based in Cheltenham, based on 34 years experience. We provide advice on mortgages and insurances to clients nationally across all of the UK. Reach out to Liam, Phil or any one of our team on 01242 237866 or email on liam@go2-mortgages.co.uk , phil@go2-mortgages.co.uk. www.go2-mortgages.co.uk
