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Though it may rank lower than other generations, home ownership is still part of the American dream. Yet a homeowner on TikTok, named Jenn, has done the math and found out just how much she will pay for her home, including interest, over the 30-year loan. 

The total was nearly twice the loan amount. These numbers make the dream of home ownership seem even less attainable and a daunting endeavor for those thinking of purchasing their first home. On top of other factors contributing to the problems surrounding purchasing a home, like student loan debt, the goal of buying a house is becoming further and further away from Americans. 

A homeowner did the math and realized over a 30-year term, she would pay $564K in interest on a $300K mortgage.

Jenn explained that she was trying to surprise her husband by adding micropayments to their 30-year mortgage so that they could finish paying for the house in their fifties. She did the math and figured out that if she made the minimum payments over the 30-year term, the total cost for the house would be $864k. That’s a whopping $564k in interest — nearly double the amount of the loan.

One commenter said, “It should be illegal. Housing is a necessity.” Another shared, “It’s criminal!!! It should be a flat 1% not compounding.” 

Others criticized  that her lender “Should have provided an amortization table when signed.” In simple terms, an amortization table is a loan payment schedule that breaks down exactly how much interest is included in each payment and how much time is taken off the loan by paying more principal. 

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Most renters want to buy a home, but can’t afford it.

Tirachard Kumtanom | Shutterstock

The Joint Center for Housing Studies of Harvard University released its 2025 report and found that the number of renters spending 30% or more on rent and other housing costs set a record for the third year in a row. Basically, housing costs are preventing renters from saving, making homeownership nearly impossible.

Even professionals in high-income jobs find home ownership a fantasy over reality. In fact, a 2024 CNN poll found that a whopping 86% of renters want to buy homes, but they simply can’t due to financial constraints. Is it any wonder that data compiled by the National Association of Realtors (NAR) revealed the average age of first-time homebuyers in 2025 hit a record high of 40? Think about that. 

“For generations, access to homeownership has been the primary way Americans build wealth and the cornerstone of the American Dream,” said Shannon McGahn, NAR executive vice president and chief advocacy officer. “Delayed or denied homeownership until age 40 instead of 30 can mean losing roughly $150,000 in equity on a typical starter home. “

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Young adults are looking for alternative ways to enjoy the freedom of home ownership.

Potential home buyers are finding creative ways to get around typical home ownership, including, according to a recent survey, tiny homes, container homes, and van living. The survey noted, “Among the generations, Gen Z and millennials are most interested in tiny homes, with 75% considering living in one.” 

Others, however, have simply resigned themselves to the fact that owning a home will not be part of their retirement investment. Even as CNN noted that mortgage rates have eased up, the price of homes has only increased. That means, even for millennials and Gen Zers who would rather make a mortgage payment than a rent payment, there’s nothing worth buying in their price range.

“I’m not going to pay $350,000 for a run-down house. It almost seems laughable. We can’t find anything affordable for a family of four,” Jeremy Andersson, a digital marketing specialist living north of Atlanta, told the outlet.

Honestly, Jenn and her family are some of the lucky few. She’s in a home and hopes to be mortgage-free by 50. Considering most people can’t even enter the buying market until 40, that’s a privilege. 

The fact remains that wages need to meet the cost of living in order for homeownership to even be possible nowadays. It’s as simple and as difficult as that.

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Laura Lomas is a writer with a Master’s degree in English and Creative Writing who focuses on news, psychology, lifestyle, and human interest topics.