‘What should I do?’: This New Jersey woman took to TikTok for advice on buying a home amid ‘astronomical’ prices — here’s what they told her

There’s no shortage of advice out there for young people looking to buy their first homes — but it’s not much help when your biggest blocker is money.

Cerina Pocino, a 24-year-old TikToker, is facing just that issue. She and her 28-year-old husband currently live for free with family, but as someone with a “normal job,” she’s eager to move out on her own.

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But the couple can’t get past having to shell out the average $2,500 to $2,900 in rent it takes to afford a place in their area.

“I could never sleep at night soundly knowing that $3,000 was just drafted out of our account every single month, going toward a landlord,” she says in her recent TikTok](https://www.tiktok.com/@cerinapocino/video/7354418450569235758?lang=en).

The pair thought that buying a home may be a better use of their money. But the prices were also “astronomical.” She says a home costs a minimum of $500,000 in their area.

“What should I do?” Pocino asks her viewers. “If you have any insight, please share.”

What are people in their 20s doing?

Pocino isn’t alone in her struggle. Many of the commenters on her video shared they were also trying their best to gather the money to buy a home.

“28 and still living at home,” one commenter opines. “Just saving saving saving.”

While many of her parents’ generation might have been homeowners by 25 or 28, Pocino isn’t exactly falling behind. The median age for a home buyer in 2023 was 35 years old, according to data from The National Association of Realtors](https://www.nar.realtor/research-and-statistics/research-reports/highlights-from-the-profile-of-home-buyers-and-sellers).

A major factor keeping homeownership out of reach for young people is home prices, as the median sales price for a home hit $417,700 in the last quarter of 2023, according to Federal Reserve data.

For anyone aiming to put down the recommended 20%, they’ll need around $83,000 and it’ll take a lot of diligent saving and a few years to have that for their down payment.

The cost of housing has become so extreme that even some young, rich people are ditching their homeownership dreams in favor of using their money to travel or because they don’t feel ready for the responsibility.

Some young people who aspire to own homes are even turning to unconventional options, like buying homes with their friends or moving to less expensive parts of the country, such as the South and Midwest.

Read more: These 5 magic money moves will boost you up America's net worth ladder in 2024 — and you can complete each step within minutes. Here's how

What people in their 20s can do to buy a home

Pocino doesn’t just want a house that she can live in. She wants to make a smart financial decision for her future self.

“This is an age where homeownership would be a good idea,” she says. “It would be a good investment.”

But that doesn’t mean it’s the right decision for her and her husband. As one commenter suggested, the smartest option is always “doing what you can afford, not what others are doing.”

This commenter is right not to buy a home just because everyone else has one. Nearly 30% of Americans are house poor — and it’s not a good place for your wallet or mental health.

It may take longer to get there, but Pocino and her husband should consider making a household budget if they don’t already have one, and then identify any expenses they can cut back on and re-allocate that money toward their down payment savings.

If that seems beyond reach, automating your savings can save you from even having to think about it each month.

Finally, it never hurts to check in with a professional financial adviser. A little advice to put you on the right track to meeting your financial goals can go a long way.

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This article provides information only and should not be construed as advice. It is provided without warranty of any kind.