Can Gen Z Afford To Buy A Home?

Hosts Kevin and Dylan sit down with Cynthia Lazo, a multi-million dollar producing real estate agent (and Kevin's sister-in-law), to demystify the home-buying process for Gen Z. Key Topics Covered: Biggest Misconception Most people don't know what they can actually afford — some overestimate, others underestimate. Sitting down with a lender reveals the real picture. Can Gen Z Buy a Home? Yes — but social media is a major obstacle. Platforms push fear ("you'll never afford it") and unrealistic success stories ("I'm 21 and a millionaire"). Both extremes paralyze buyers emotionally. Cynthia says the opportunity is real if you tune out the noise. How to Prepare (Years in Advance) Use the Dave Ramsey "debt snowball" method to pay off debt Build your credit score — aim for at least mid-650 minimum Meet with a lender early (soft pulls don't hurt your credit score) Interview realtors before committing to one Down Payment & Closing Costs 20% down is NOT required — 3–3.5% is common Down payment assistance grants are available (many buyers don't even know they exist) — structured as a "silent loan" with zero interest Closing costs average ~4%, but sellers can often be negotiated to cover them The Home-Buying Process (Start to Finish) Pre-approval → House search + Buyer Broker Agreement → Offer & negotiation → Inspection → Appraisal → Underwriting → Final walkthrough → Closing (30–45 days total; ~15–20 for cash buyers) Starter Home vs. Waiting Cynthia strongly recommends buying a starter home over renting. Every rent payment builds someone else's equity. Start small, build equity, then trade up. Is There a "Good Time" to Buy? There's rarely a bad time, especially in Oklahoma — the state is growing rapidly (new developments, Buc-ee's, Okana, Norman's $1B revamp). Housing prices are starting to level out, making it an even better window. Crazy Stories Talked clients out of a house that literally had no floor in a room (covered by loose tile) A gas leak was hidden by the seller shutting off the gas before the final walkthrough — buyers discovered it after moving in Always do your own inspection, even on new builds Dream Home Feature A Clueless-style rotating wardrobe closet — practical for a busy agent! 0:00 — Intro 1:18 — Working with First-Time Buyers 3:45 — Common Misconceptions 5:18 — Can Gen Z Afford to Buy? 8:39 — How to Prepare Years in Advance 10:35 — How Much Money Do You Need? 13:57 — Is 20% Down Payment Required? 16:29 — Credit Score Minimums 17:46 — Lender vs. Realtor: Where to Start 20:37 — The Home Buying Process A to Z 31:51 — Starter Home vs. Waiting 33:58 — Is There Ever a Good Time to Buy? 36:00 — Talking Someone Out of a House 40:59 — Craziest Thing Seen in a House 44:26 — Weirdest Home Feature 47:39 — Dream Home Feature