Buying your first home at 40 is no longer unusual. In fact, according to the National Association of REALTORS® (NAR), 40 was the median age of first-time homebuyers in 2026, matching the record high reported the previous year.
For many aspiring homeowners, the path to buying a home now involves more years of saving, careful budgeting, and sometimes financial help from family. But here’s something worth considering: waiting to buy may affect more than when you get your keys. It can also affect how long you have to build home equity.
NAR’s 2026 Profile of Home Buyers and Sellers highlights a growing divide between buyers who can draw on family wealth and those who are saving on their own. The report also shows how people are finding different ways to enter the housing market, from living with family longer to buying with roommates or purchasing multigenerational homes.
If you’re hoping to buy your first home in Ventura, understanding these changes can help you make a more informed plan.
1. Why Are First-Time Homebuyers Waiting Until Their 40s to Buy a Home?
First-time homebuyers are waiting longer because affordability challenges are making it harder to save for a down payment and qualify for a home purchase.
NAR reported that the median age of first-time buyers reached 40 in 2026. That’s a significant change from the 1980s, when first-time buyers were typically in their late 20s.
The share of first-time buyers also remains historically low. They accounted for just 22% of buyers in 2026, a modest increase from 21% the year before. Before 2008, first-time buyers traditionally represented approximately 40% of home sales.
What’s making the process so difficult? Buyers are dealing with several financial pressures at once:
- High housing costs and rent payments
- Student loan and other debt obligations
- Limited inventory of homes within their budgets
- The challenge of saving for a down payment while managing everyday expenses
According to Jessica Lautz, NAR’s deputy chief economist, affordability remains the biggest hurdle for first-time buyers, particularly those trying to save without family assistance.
What this means for Ventura buyers: Waiting until you feel completely financially comfortable may seem like the safest choice, but it’s important to understand what you’re waiting for. A realistic budget, mortgage preapproval, and a clear savings goal can help you determine whether buying may be possible sooner than you think.
You don’t necessarily need to start with your dream home. You need to understand which properties and ownership costs fit your current financial situation.
2. How Much Could Delaying Homeownership Cost First-Time Buyers?
Delaying homeownership can mean missing additional years of potential equity accumulation.
NAR estimates that delaying homeownership by just one decade could cost younger generations approximately $150,000 in potential equity gains. This is an estimate, not a guaranteed loss for every buyer, because home values, mortgage costs, maintenance expenses, and individual financial circumstances vary.
Still, the underlying point matters. When you own a home, a portion of your mortgage payment generally goes toward reducing your loan balance. Over time, that can contribute to building equity. Homeowners may also benefit if their property appreciates, although appreciation is never guaranteed.
Renting can provide flexibility and may be the right decision for people who are not financially ready to buy. However, rent payments generally do not build ownership in the property.
What this means for Ventura buyers: Don’t let the pressure to buy immediately push you into a purchase that doesn’t fit your finances. Instead, compare the cost of renting with the full cost of owning a home, including the mortgage, property taxes, insurance, maintenance, and potential repairs.
The goal is to make a decision that supports your financial future, not simply to buy as early as possible.
3. Are Family Inheritances and Gifts Helping More First-Time Buyers Purchase Homes?
Yes. NAR’s 2026 report shows that family wealth is playing a growing role in how some first-time buyers enter the housing market.
A record 10% of first-time buyers paid all cash. These buyers were more likely to use inherited money, inherited property, or other financial assets.
The age difference between cash and financed first-time buyers is especially striking:
- All-cash first-time buyers: Median age of 54
- First-time buyers who financed: Median age of 38
That is a 16-year difference.
This helps explain why the overall median age of first-time buyers has climbed. Some buyers are entering the market earlier with financing, while others are waiting until they have accumulated more assets or received financial assistance.
NAR describes this as part of a broader generational transfer of wealth. As wealth passes between generations, it may influence who can afford to purchase a home and when.
What this means for Ventura buyers: If family members are willing and able to help with your purchase, understand how that assistance will be structured. A gift, a loan, and an inheritance can have different financial and mortgage implications.
If you’re using gifted funds, speak with your lender early about documentation and requirements. If you’re receiving a family loan or purchasing with relatives, consider getting appropriate legal and financial guidance before moving forward.
And if you don’t have access to family wealth, that doesn’t mean homeownership is out of reach. It may simply mean your strategy needs to focus more heavily on savings, financing options, and timing.
4. How Are First-Time Buyers Saving for Their Down Payments?
Saving for a down payment remains one of the biggest challenges for first-time buyers, but many are combining several sources of funds to reach their goal.
According to NAR’s 2026 report, the median down payment for first-time buyers was 9%, compared with 19% for repeat buyers. Repeat buyers may have an advantage because they can use equity from a previous home sale toward their next purchase.
First-time buyers reported using different sources to build their down payments:
- Personal savings: The leading source of down payment funds.
- Financial assets: 30% used assets such as stocks, bonds, retirement accounts, or cryptocurrency.
- Gifts or loans: 25% received gifts or loans from relatives or friends.
These findings show that buyers are not necessarily relying on one savings account or one source of money.
However, using retirement funds, investments, or borrowed money requires careful consideration. Before moving funds, understand the potential taxes, penalties, repayment obligations, and effects on your overall financial security.
What this means for Ventura buyers: Start by identifying a realistic purchase price and asking a lender how much you may need for a down payment and closing costs. You may have more financing options than you realize, and some loan programs have different down payment requirements.
A plan built around your actual finances is more useful than choosing an arbitrary savings target.
5. Is Living With Parents Helping More Adults Save for a First Home?
For some buyers, living with family longer is a practical way to reduce housing expenses and save toward a future purchase.
The article reports that 16.4% of adults ages 25 to 34 lived with their parents in 2025, based on U.S. Census data. It also notes that the share of first-time buyers who lived with family before purchasing increased from 12% in 1993 to 21% in 2026, according to NAR.
For buyers who have a supportive family situation, staying at home can reduce or eliminate rent payments. That may make it easier to build savings, pay down debt, and prepare for a mortgage.
Of course, living with family isn’t an option for everyone. Personal circumstances, work locations, caregiving responsibilities, and household needs all influence whether it makes sense.
What this means for Ventura buyers: If you’re able to live with family while saving, consider creating a specific homeownership plan. Decide how much you want to save each month, how you’ll manage existing debt, and when you’ll review your progress.
The important part is making the arrangement purposeful. Saving without a target can make it difficult to know when you’re ready to take the next step.
6. Can Buying a Home With Roommates Make Homeownership More Affordable?
Buying a home with roommates or other non-romantic partners is becoming another way some buyers approach affordability.
NAR’s 2026 report found that the share of buyers purchasing with non-romantic roommates reached a record 4%.
Combining financial resources may help buyers share the cost of a down payment, mortgage, property taxes, insurance, and maintenance. It may also make a property accessible that would be difficult for one person to afford alone.
However, buying with a roommate is different from simply sharing a rental. Both parties may be taking on long-term financial and legal responsibilities.
Before purchasing together, discuss:
- How much each person will contribute toward the purchase.
- How ownership shares will be established.
- Who will pay the mortgage and ongoing expenses.
- How repairs and unexpected costs will be handled.
- What happens if one person wants to move or sell.
- How a buyout or sale would work if the arrangement ends.
A written ownership agreement prepared with appropriate legal guidance can help prevent misunderstandings.
What this means for Ventura buyers: Co-buying may be worth exploring if you have a trusted potential purchasing partner. But don’t make the decision based only on whether two incomes qualify for a larger mortgage. Make sure the property, financial responsibilities, and exit plan work for everyone involved.
7. Are Multigenerational Homes Becoming a Solution to Housing Affordability?
Yes. Multigenerational housing is one of the ways families are responding to higher housing costs and changing household needs.
NAR reported that approximately 14% of buyers purchased a multigenerational home in 2026. Families cited several reasons, including caring for aging parents, saving money, and accommodating adult children who had never left home or were moving back in.
Sharing a home can allow family members to combine resources while supporting one another. It may also provide practical benefits for households balancing childcare, eldercare, and other family responsibilities.
But not every home is designed for multiple generations. Privacy, accessibility, separate living areas, bathrooms, parking, and shared spaces can all influence whether a property is a good fit.
What this means for Ventura buyers: If your family is considering a multigenerational home, think about both your current needs and how those needs may change over time.
You should also verify local zoning and building requirements before assuming you can add an accessory dwelling unit, convert a garage, or create a separate living space.
The right property should support the family arrangement without creating unexpected costs or compliance issues.
What Should First-Time Buyers Do if They’re Hoping to Purchase a Home in Ventura?
The 2026 NAR findings make one thing clear: there is no single path to homeownership anymore.
Some buyers receive financial help from family. Others save for years, live with relatives, purchase with roommates, or choose a home that accommodates multiple generations. Each approach comes with different financial and personal considerations.
If buying a home in Ventura is one of your goals, consider these practical steps:
- Review your finances. Understand your income, savings, debts, credit, and monthly obligations.
- Talk with a mortgage professional. Learn what loan programs may be available and what you can realistically afford.
- Set a down payment goal. Include closing costs and an emergency savings cushion in your plan.
- Explore your options. Consider different property types, household arrangements, and locations.
- Understand the full cost of ownership. Account for taxes, insurance, utilities, maintenance, and potential repairs.
- Work with a local real estate professional. Get guidance on available properties, neighborhood considerations, and the steps involved in making an offer.
You don’t have to figure everything out at once. A clear plan can turn homeownership from an uncertain goal into a series of manageable steps.
How Can an AI-Certified Real Estate Agent Help First-Time Buyers?
Buying a first home involves a lot of information, and knowing where to begin can feel overwhelming. An experienced real estate professional can help you understand the process and stay organized as you evaluate your options.
I’m Roylin Downs of The RoylinSells Group, and I’ve been serving buyers and sellers throughout Ventura County, Los Angeles County, and Santa Barbara County since 1990.
As an AI-Certified Agent, I also use modern AI tools to support my real estate work. These tools can help organize property information, streamline marketing and communication workflows, and make useful information easier for clients to review.
Technology can make parts of the process more efficient, but it doesn’t replace local knowledge, personal attention, or the conversations that help buyers make confident decisions.
Whether you’re purchasing on your own, with a partner, or with family, I can help you understand the process and work toward a home that fits your needs and budget.
Conclusion: Your First Home Doesn’t Have to Follow Someone Else’s Timeline
The median age of first-time homebuyers reaching 40 is a reminder that today’s path to homeownership is different from previous generations. Affordability challenges, family wealth, changing household arrangements, and the cost of saving are all influencing when people buy.
But waiting longer doesn’t mean you should give up on the goal. It means having a realistic plan matters more than ever.
Whether you’re just beginning to save, exploring financing options, or ready to start looking at homes in Ventura, the right guidance can help you understand your next step.
Contact Roylin Downs and The RoylinSells Group today. Let’s talk about your homeownership goals and create a plan that makes sense for your life.
Frequently Asked Questions
1. What is the median age of a first-time homebuyer in 2026?
The median age of a first-time homebuyer was 40 in 2026, matching the record high reported in 2025. NAR’s report shows that first-time buyers are entering the market later than previous generations, in part because of affordability challenges and the time needed to save.
2. What percentage of first-time buyers purchased a home in 2026?
First-time buyers represented 22% of homebuyers in 2026, a slight increase from 21% in the previous year. Before 2008, first-time buyers traditionally represented about 40% of home sales, according to the supplied NAR report summary.
3. How much do first-time homebuyers typically put down?
NAR reported a median down payment of 9% for first-time buyers in 2026. The amount required can vary depending on the loan program, purchase price, lender requirements, and buyer qualifications. Buyers should speak with a mortgage professional to understand their available options.
4. Can I buy a home with a family member or roommate?
Yes, buyers may purchase a home together, subject to lender requirements and the terms of the ownership arrangement. Before proceeding, discuss financial contributions, ownership shares, mortgage responsibilities, and what happens if one person wants to sell or move. Legal guidance can help establish a clear agreement.
5. Are multigenerational homes a good option for first-time buyers?
They can be a practical option for families who want to share housing costs or provide support for aging parents and adult children. However, the property should offer enough space, privacy, and accessibility for everyone. Buyers should also verify any applicable zoning and permitting requirements before planning separate living spaces.
Sources
- National Association of REALTORS®, Highlights From the Profile of Home Buyers and Sellers:
https://www.nar.realtor/research-and-statistics/research-reports/highlights-from-the-profile-of-home-buyers-and-sellers - National Association of REALTORS®, The “Silver Tsunami” in Real Estate Is Here: Are You Ready?:
https://www.nar.realtor/news/real-estate-news/the-silver-tsunami-in-real-estate-is-here-are-you-ready - National Association of REALTORS®, Parents Are Saving Up to Help Their Kids Buy a Home:
https://www.nar.realtor/news/real-estate-news/parents-are-saving-up-to-help-their-kids-buy-a-home - National Association of REALTORS®, Teaming Up to Buy: Co-Buying Goes High-Tech:
https://www.nar.realtor/news/real-estate-news/technology/teaming-up-to-buy-co-buying-goes-high-tech - Pew Research Center, Buying a Home Has Gotten Harder for Young Adults in Most U.S. Metro Areas:
https://www.pewresearch.org/short-reads/2026/06/24/buying-a-home-has-gotten-harder-for-young-adults-in-most-us-metro-areas/ - National Association of REALTORS®, Rethinking the Starter Home:
https://lookforther.realtor/buy/first-time-home-buyer/rethinking-the-starter-home/
