How much does becoming a homeowner at 30 boost your net worth?

Buying that first home earlier in life can put you on a stronger path to building wealth, according to Realtor.com. Edited by Alain Sherter In:

Buying that first home earlier in life can put you on a stronger path to building wealth, according to Realtor.com.

On average, Americans who manage to become homeowners by age 30 are $119,000 richer by the time they're 50 than people who wait until their mid-to-late 40s to take the plunge, the online real estate firm found in a recent study. Even those who wait until ages 33 to 37 have $59,000 more in net wealth by age 50 than those who put off buying a home.

Realtor.com said the head start acts as a "wealth multiplier" by allowing homeowners to accumulate more wealth through appreciation, which is when your home gains value over time. Buying early also allows owners to reduce the principal on their loan faster, resulting in lower interest payments down the line. 

The benefits of getting on the property train early aren't limited to the homeowners — they can also have positive trickle-down effects on subsequent generations, according to Realtor.com. An analysis by the firm found that children raised in homeowner households are 18.4 percentage points more likely to become homeowners themselves by age 35. 

Realtor.com based its findings on data from the University of Michigan's Panel Study of Income Dynamics, a long-running survey of household income.