Are you thinking about buying your first home? Many millennials are buying homes now. Partly due to millennials reaching the age where they are ready to settle down and because rental rates are rising and it just makes sense. According to Zillow, 56% of all first-time home buyers last year were under the age of 36. In another report by Coldwell Banker, one in four couples aged 18-34 are buying a home before getting married.
If you're ready to buy a house, here are some tips:
Don't Assume You Can't Afford It
Get advice from a professional. I can help you find a lender that fits your needs who can help tell you what you can afford. Down payments can be expensive, but there are many down payment assistance programs.
Do Some Math
Check Out Some Houses
The best way to start finding a house is to contact me and talk to me about your needs and wants in a home. I'll find you houses you'll like and update you when new ones come on the market right away!
By getting pre-qualified for a loan by a lender, you'll know exactly how much you can spend on a home. It's very easy! I can help you find a lender who will check how much you qualify for. Remember though, just because you're approved for a certain amount, doesn't mean that you should purchase a home for that much. You'll still need to consider how much you can realistically spend a month on house payments, taxes, and maintenance costs.
Consider Taking a First-Time Homebuyer Class
They vary in cost, but can pay off big time! Some can get you discounts on down payments and some can even help get you a loan without a down payment. They can help you determine how much you should realistically spend on a home depending on what your financial situation is.