A new report from Coldwell Banker reveals that 71% of potential homebuyers delay major life events like marriage or having children to prioritize purchasing a home. Gen Z is particularly affected, with 84% postponing life decisions. Real estate is seen as a key to financial stability and wealth-building, with misconceptions about homeownership hindering progress.

Jason Waugh, president of Coldwell Banker, emphasizes the importance of educating potential buyers on their options to break into the housing market. Setting long-term financial goals and working with professionals early on can help align life milestones with homeownership plans. Strategies like co-buying and adjusting savings habits can accelerate the path to owning a home.

Flexibility in home preferences, exploring different neighborhoods, and considering starter homes like condos or fixer-uppers can speed up the process of saving for a down payment. Moving to more affordable areas or investing in property while renting locally are alternative strategies to achieve homeownership sooner. Each financial improvement, from credit score to debt-to-income ratio, plays a significant role in qualifying for a mortgage and advancing home-buying goals.

Prioritizing and organizing life milestones is a personal journey that can be tailored to individual circumstances. Building a strong financial foundation through savings, credit habits, and emergency funds while pursuing other life goals can lead to a stable and enjoyable journey towards homeownership. The key is to start planning and taking steps towards financial readiness to achieve meaningful milestones simultaneously.

Read more at Yahoo Finance: Buying a home doesn’t have to delay your next life milestone. Here’s how to achieve your goals.