Confidence the Key to Success for Young Home Buyers

Dated: 03/10/2020

Views: 36

Buying your first home can seem overwhelming. Thankfully, there’s a lot of great information out there to help you feel more confident as you learn about the process. For those in younger generations who aspire to buy, here are three things to consider sooner rather than later in your journey:

1. Understand What it Takes to Purchase a Home

Overall, Millennials make up the largest group of homebuyers in today’s real estate market, and Gen Z is not too far behind. A recent study shared by Freddie Mac shows, however, that Generation Z isn’t as confident in the homebuying process as Millennials. The best thing potential young buyers can do is understand what it takes to buy a home. Learn as much as you can about the mortgage processdown payment options, and the overall steps to take along the way. 

2. Realize Your Opportunity to Build Wealth 

Homeownership allows you the chance to put a small portion of the home’s value down when you buy, and then watch your appreciation grow on the full value of the home – not just on the down payment. It’s one of the best investments you can make, and a form of forced savings working in your favor over time. The added bonus? You get to live there, too.

3. Find Someone You Trust to Help You Through the Process 

Having someone you trust to guide you through this process is invaluable. Finding a local real estate expert to help you navigate through the transaction and feel more confident as you make important decisions could be the best choice you make.

For Millennials and Gen Z’ers thinking about buying, today’s historically low interest rates combined with the outlook for future home appreciation is a big win. This means whatever you buy today, you’ll be bragging about 10 years from now. You can feel confident about that!

Bottom Line

If you’re ready, buying your first home sooner rather than later is one of the best decisions you can make. But there are many things to consider before taking that step, so let’s work together to help you confidently navigate the full journey.

Blog author image

Curtis Johnson

Curtis is a Best Selling Author, the Founder and CEO of The Curtis Johnson Team Powered By eXp Realty, where he runs a dynamic Real Estate Team having sold 5,000 residential homes. The Wall Street Jou....

Latest Blog Posts

The Housing Market: Positioned to Bring Back the Economy

The Housing Market: Positioned to Bring Back the EconomyAll eyes are on the American economy. As it goes, so does the world economy. With states beginning to reopen, the question becomes: which

Read More

The Most Important Financial Benefit of Homeownership: Family Wealth

The Most Important Financial Benefit of Homeownership: Family WealthWhile growing up, we were taught by our parents and grandparents that owning a home is a financially savvy move. They explained

Read More

Will the Housing Market Turn Back Around This Year?

Will the Housing Market Turn Back Around This Year?Today, many people are asking themselves if they should buy or sell a home in 2020. Some have shifted their plans or put them on hold over the past

Read More

A Surprising Shift to the 'Burbs May Be on the Rise'

A Surprising Shift to the ‘Burbs May Be on the RiseWhile many people across the U.S. have traditionally enjoyed the perks of an urban lifestyle, some who live in more populated city limits

Read More