BUFFALO, N.Y. — Homeownership might feel like it’s only for a select few.
Numbers from the National Association of Realtors say between July 2023 and June 2024, the average first-time homeowner made $97,000 and was 38 years old.
Both numbers are up from years ago, but, in Western New York, things might be a bit more attainable.
Just ask Evan Fix.
He can tell you, chores just hit differently when it’s in a space that’s all yours.
“I'm the one who's got to do it, but it's cool," he said. “It's great. I love it.”
The 27-year-old didn't think homeownership was in the cards for him.
“Housing market that, home prices this and [...] I thought it was going to be, you know, apartments, renting,” Fix said.
But he gave it a shot and found a property he loved.
“The yard was definitely the biggest factor,” he said. “We came and saw it on a Saturday or Sunday, and submitted an offer on Monday, and then that offer was accepted like a day or two later.”
That's how he found himself a first-time homeowner.
“With renters insurance and everything else that comes with it, it equals out [to renting]," he said. "This is a little bit more, but it's acceptable to me because it's mine.”
His story is a common one for Emily Cornwell, an associate real estate broker with Howard Hanna.
“Just yesterday, I was with a buyer who's relocating from Tampa," she said. "I was like, 'you're going to be so glad that you're here, because your dollar goes so much further in Western New York.'”
While ages and salaries for first-time homebuyers are hitting record highs in the U.S., areas of Western New York aren’t seeing that same surge.
“Early 30s, I would say, is probably the standard [buyer age]," said Cornwell. "But again, I've had multiple experiences in the last few years where it's been people in their mid to late 20s too.”
Meanwhile, she’s heard from people maxed out of their budget in places like New York City.
“That's a really huge selling point, where you can pursue the dream of homeownership and be able to build a life too and not be house poor,” she added.
While Fix had a zero-down VA home loan to work with, there are other options out there.
“The assumption often is 20% down or nothing, which isn't the case," said Cornwell. "Many financial institutions do offer first-time homebuyer programs or FHA programs [that are] 3% down or 5% down conventional financing.”
Fix is still getting settled in his new home.
“I was used to living in an apartment, so the amount of stuff that I would need...It was a little overwhelming,” he said.
But he’s in his home sweet home and he wants others to know it’s a goal they can reach too.
“Research what's available for you," said Fix. "It wasn't until I started taking action, taking steps towards it, it started feeling a little bit better. I'm like, 'Oh, this is possible.'”
That National Association of Realtors survey also found a record high of 7% of first-time homebuyers used an inheritance to help with a house down payment.
Cornwall says she hasn’t seen a lot of that in the 10 years she’s been in realty, or much of any “gift funds” being used.