Buying a New Home

Buying a Home at a Young Age.

This is the generation where people are tech-savvy, very well educated, and they know what they want to do with their lives. Given the fact that all my friends are in their twenties and they’re all thinking or wanting to buy a home for themselves. That made me think, can we buy a home at a young age?

Its going to be a challenge for us young folks to buy a home. But theres always a way where you can ask guidance from the parents, friends that already have a property investment and even from these experienced real estate agents in your area.

Today, a lot of apps and different websites that will probably persuade you to buy a home or get their services. If this is your first time buying a home downloading these apps isn’t going to get you your first new home.

Instead, there are proven tips that can be followed when buying a home at a very young age.

1. Making sure you’re ready to commit.

For a young man or woman, early and late 20’s is the most interesting part of their lives. This is the time when they can explore and decide what they want to do with their lives. Some of us are thinking to get a steady job, get their master’s degree, get a car, look for a potential partner in life and buy or invest in a property, and the list just go on and on.

Buying a home also means you’re going to get your hands dirty. Both literally and figuratively. Think about the maintenance of the house. Yes, there will be handy work like maintaining landscaping, simple plumbing, changing air-filter or changing broken parts of the house. So if you can commit doing these stuff. Please go on and read more.

 

house repair, house painting, plumbing

2. Be ready with your finances.

Buying a home, bank will be checking every part of your financial picture. From your salary to your bills and how often you buy. Find out how much money you’ve got coming in and going out and how much you’ll be able to pay the monthly mortgage.

Also, consider that homeownership fees doen’t end with monthly mortgage, you should also think about the home insurances, property tax and some unexpected repairs on you house.

What do you think? Is Buying a Home still an option for you?

calculator with expense sheet

3. Considering your Credit and Savings.

Banks will closely consider your credit score when it comes to mortgage approval. Remember, the better your credit card score, the better interest rate you’ll be getting.

In addition to your credit, dig deeper into your savings. When you’re buying a home, you’ll need to have money in-hand, up-front to cover fees like your down payment and closing costs.

You will be spending your saved money when the time comes to buy your  first home.

Visa credit and debit card

4. Work with the trusted and experienced real estate agents.

The important last piece in home-buying. We would not advise following a DIY mentality. Professional real estate agents have the training and knowledge that can be very helpful to any first-time home buyer. Your trusted real estate agent will help you make up your “needs and wants” list when it comes to a home, they’ll search for homes, show you homes, negotiate and walk you through the entire offer and closing process, right down to the point where those new home keys fall into your hands.

If you’re a twenty-something who’s decided that now is the right time for you to buy a home, let us help! Also, if your looking for the Best Real Estate Agency in Dubai, Please contact us. then, contact a trusted real estate agent, who will be happy to help you through the entire home-buying process today!

Keys for the new home

 

Cedric Caunan

Nov 28, 2017 @ 10:54