August 10, 2018 | Katy Ryan

Are you a millennial looking to buy your first home? Today I have five steps I want to share to keep you on track.

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Buying a house in your 20s has become a big topic recently. Millennials are very tech savvy and have usually done their research, so today I wanted to share five steps on what to look for if you are trying to buy a house right now.

1. Commitment. If it is a thought you have to want to buy instead of rent, you have to be committed to the process. It will take a few steps to get it done and you will need to be patient. If you trust the process, buying a home can happen for you.

2. Finances. You will need to understand that your monthly mortgage payment is not the only part of the finances. There are many other things to consider such as taxes, insurance, monthly utility costs, and maintenance and improvements as well. You have to look at all of it when you are considering your budget and make sure you are not going to be what people to call “house poor.”

If you trust the process, buying a home can happen for you.

3. Credit. We can help you find out what your credit score might be. If you have great credit after getting your first credit card in college, this is great because it is going to help determine your interest rate. This can also determine what you can afford. If you have a lower score, you will want to improve the score before you get started. You may get pre-approved only to have the lender say that if you raise your score, you will have a better rate. Throughout the life of your loan, this can save you a lot of money down the road.

4. Lender. You need to find a great lender, We have a couple great ones that we work we work with who will work hard for you as our clients. They will look at your situation such as your job, income, etc. to help get you pre-approved and find you the best loan option for you such as FHA or conventional. They will also go through the rates as well as all your options so that you can be comfortable with the payment that you will have.

5. Agent. You need to choose the best agent as far as their commitment to you, experience, and if they have time for you. You want to look for an agent that is going to look out for your best interest and help you find the house to suit your needs.

If you have any additional questions about this or real estate in general, please feel free to reach out to me. I look forward to speaking with you soon.



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