How Old Is Too Old To Buy a House?

How Old Is Too Old To Buy a House?

Sarah Sharkey  Tue, December 9, 2025  GOBankingRates

Buying a house is a major financial decision. And for older homebuyers, the decision to purchase a new home comes with extra significance. While you’re never too old to buy a house, age can play a significant role in determining if the purchase is the best move for your finances.

From mortgage eligibility to long-term financial planning, the decision to purchase property in your 50s, 60s, or beyond depends on your unique circumstances. GOBankingRates reached out to the experts for their insights on whether you’re ever too old to buy a house, and what factors middle-aged and senior homebuyers should consider before making this major investment.

Older Buyers Should Take the Time To Think Things Through

Personal finance expert Suze Orman doesn’t think age should preclude a buyer from making a home purchase, but she does recommend taking the time to think about it carefully. Buying a home at any age only makes sense if you can afford it financially.

In Orman’s opinion, being able to afford a home purchase means the ability to put down at least 20% while holding onto a robust emergency fund. She also suggests not dipping too far into your retirement nest egg to cover the costs and choosing a 15-year fixed-rate mortgage.

Future Needs Become Especially Important

If buying a home later in life, it must meet your current and future living needs. Of course, this applies to the financial principles of not spending down too much of your retirement savings to make this purchase. But it also applies to the physical realities of aging.

“Retirees often come down to Florida dreaming of palm trees and a golf cart lifestyle, but they sometimes jump into a purchase without thinking a few years ahead,” said Jessica Robinson, co-owner of Family Nest North Central Florida, a company that helps families navigate transition periods, like aging.

“I once had a sweet couple buy a two-story home in a gorgeous 55+ community, but after a year, those stairs became a daily hassle and they ended up selling,” she continued. “That’s why I always tell my clients to try and think five to 10 years out when they’re buying a house.”

Before moving forward with a home purchase, make sure it is likely to fit your future needs.

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TO READ MORE:  https://www.yahoo.com/lifestyle/articles/old-too-old-buy-house-210212907.html