How Long Does It Really Take to Save for a Home in Connecticut?

Neil Caron
Jul 1
2 min read

July 1st, 2025 | Homebuyer Education | Presented by ReadySetLoan™

For many Connecticut residents dreaming of homeownership, the biggest hurdle isn’t finding the perfect house—it’s saving enough for the down payment. A new report from Realtor.com shows just how long it might take the average American to stash away a 13% down payment… and the numbers are sobering.

📉 National Picture: 5.5 Years (Or Longer)

Nationally, it now takes about 5.5 years for a typical first-time homebuyer to save for a 13% down payment on a median-priced home. That assumes a household is saving 5% of its income consistently. In pricier markets or lower-income brackets, the wait can stretch much longer.

But what about Connecticut?

🏠 Connecticut Snapshot: A Tale of Two Markets

Connecticut is a state of contrasts. While some towns like Bridgeport or Waterbury offer relative affordability, other areas—think Fairfield County or the shoreline—carry much higher price tags. That means saving timelines vary significantly based on your location.

According to data aggregated by ReadySetLoan™, here’s how the savings timeline plays out in Connecticut:

New Haven County: ~5.8 years to save for 13%
Hartford County: ~5.2 years
Fairfield County: Over 7 years in many towns
Litchfield County: Closer to 6 years, depending on the market

📍 RSL Piggy Point:

Your timeline depends not just on income and savings habits, but also on which Connecticut town you're targeting and the type of loan you plan to use.

💡 “13% Down” Is Not a Must

Let’s bust a myth right now: You don’t need 20% down to buy a home. In fact, ReadySetLoan™ works with many buyers using as little as 3% down through conventional programs or 0% down options like VA loans for eligible veterans.

"We see so many Connecticut buyers delay their homeownership goals unnecessarily,” says Neil Caron, Area Sales Manager at CMG Mortgage. “The key is learning what programs you're eligible for—not assuming you need tens of thousands saved."

🧠 RSL Perspective: Saving Smarter, Not Just Harder

Instead of waiting years to meet an arbitrary savings benchmark, ReadySetLoan™ encourages homebuyers to look into smarter options:

Down Payment Assistance from CHFA (Connecticut Housing Finance Authority)
Gift funds from family
Grants for first-time buyers in specific Connecticut towns
Low-down-payment loan programs available through trusted lenders

And don’t forget the power of education. Working with a homeownership guide like ReadySetLoan™ helps you develop a realistic plan based on Connecticut-specific options—not national averages.

🏁 Ready to Cross the Starting Line?

If you’re wondering how long it will take you to save for a home in Connecticut, the answer might surprise you—in a good way. With local incentives, expert guidance, and creative loan programs, homeownership could be closer than you think.

Let ReadySetLoan™ be your go-to guide for turning savings into keys.

👉 Explore your options and start planning today at www.readysetloan.com