Apr 112019
 

Are You Ready to Buy Your First Home?

For the millennial generation, homeownership can still be intimidating. Here’s what you should consider before making an offer.

Female realtor discussing documents with couple

Buying a home is easier when you’ve first taken stock of your financial situation and what you expect the next few years to look like. (Getty Images)

What does it take to activate a millennial homebuyer? Are the reports true that the younger generations prefer renting over homeownership, the American dream? As the market indicates and many real estate professionals can attest to, that’s not the case. Millennials do want to own a home, but many don’t know how to navigate this field. After all, it is the largest purchase most people ever make, and requires many considerations.

So, how does the traditional process of buying a home jive with this technologically savvy generation that is used to relying on data derived from computers? More importantly, how do you know when you’re ready to buy, and how do you know what to buy? There’s no right or wrong way to answer any of these questions, and how you move toward homeownership is based on a variety of factors, both deeply personal and connected to the real estate industry overall.

Here are five important things to consider and questions this generation can ask themselves to figure it out:
  • Money matters.
  • How long you plan to live there.
  • Timing.
  • The online marketplace.
  • Expert advice.
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