Tips for the Millennial HomeBuyer

by Gary and Lisa Schoeffler on May 31, 2016

in Listings

Tips for the Millennial HomeBuyer

 

So, you’re a millennial and looking to buy a home? Congratulations on this next step in your life! You’re one of the few in your age bracket who have decided to buy instead of rent and it’s a great decision! This is a great time to buy because interest rates for loans are lower than they’ve been in years. Now that you know you want to buy a home and know it’s a great time to buy one, we’ll give you the tips you need to make this purchase a great one!

  1. Get Qualified for a Loan!

There is a difference between getting Pre-Approved for a loan and getting qualified for a loan. When you get pre-approved, it doesn’t guarantee that you can get a loan. Getting qualified is the way to go!

 

  1. Find an Agent (That’s us)

It’s hard to find an agent with experience and who is going to be on your side and helpful through the whole transaction process. We can guarantee that we will give you the best real estate experience possible! We work relentlessly to help you find the home you need at the best price possible.

 

  1. Decide Wants vs. Needs

Is the pool really necessary? Or maybe that third bedroom is more important. Whatever you’re looking for, try to determine what you truly need in this next stage of life and stick with that. Which leads me to the next point…

 

  1. Be Realistic

If you want a huge backyard with a pool, 5 bedrooms, and an ocean view but you can only afford $300,000 it’s probably not going to happen. If you set your expectations in the right place, it’ll make the rest of your search go a lot smoother!

 

  1. Don’t Take Out More Credit

This last tip isn’t very well known but it’s crucially important. When buying a home, the bank will check your credit when they qualify you for a loan and again right before you close. If in that time you buy a car, take out a new credit card, or open really any new type of credit this could disqualify you for the loan that you had for your house. Nothing could be more disappointing than losing the deal on your home because of a mistake like this. Just don’t do it!

 

There you go! Those are our top five tips for millennials on buying a home. Remember, that this is a great time to buy and we are your real estate edge! We are here to help with all your real estate needs. If you are looking to buy a house – give us a call!

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Post by Gary and Lisa Schoeffler

Gary and Lisa Schoeffler are Ventura Real Estate Professionals specializing in residential real estate. Their expertise in helping both buyers and sellers is widely recognized in Ventura County. How can they assist you today? Wondering what the market is like? Call them, they will be happy to talk with you about it. 805-320-4472

Gary and Lisa has written 371 articles.

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