Before the millennial generation was born, people usually bought homes in their late 20s or early 30s. Things functioned quite differently in those times; people stayed in the cities they grew up and hardly moved to new places. The new generation is completely different from the older generation and times have definitely changed too.
The millennials travel to places they like, are more open to new experiences, and love adventure. There is a difference in home ownership than the earlier times. If you’re in your early twenties or thirties and want to become a homeowner, these are some things you should consider before you make your decision.
RECOGNIZE YOUR POTENTIAL
Have confidence and trust yourself- don’t listen to just anyone. Make sure you talk to lenders before you decide on whether to invest in your own place. There are various lenders who offer as low as 3.5% on loans which can be met easily.
SAVE MORE
Make sure you save more if you want to meet that 3.5% loan. It’s a good idea to deposit into a savings account directly. This is a first step in the millennial's guide to first-time home buying in Florida.
IN FLORIDA? GOOGLE – IT!
The millennial generation is known to be tech-savvy; make sure you perform a thorough search online and use the technological advantage that is easily available to you. Compare different properties- don’t rely on the agent alone, you may also find a good deal on your own.
ASK FOR YOUR PARENTS HELP
Your parents are the best people you can turn to for advice during the entire buying process. They may also be able to help you with your down-payment to ease your burden.
KEEP YOUR EXPECTATIONS REAL
You probably want a home in the trendiest areas so you’re close to all the happening places in town, but these are expensive due to the popularity of the area. Remember to buy your house near your workplace and closest to the train station or bus stops.