First-Time Homebuyers and Buying Your First Home
A new millennium, a new wave of home buyers is on the horizon. The average age of millennials, as of 2015, was about age 25. This means that at around age 25, for the most part, schooling should be out of the way, a foundation has been started, and the millennials are looking for somewhere to start their roots. Sunny Fort Lauderdale has much to offer to any first-time homebuyers looking to begin their lives somewhere. As a popular tourist attraction, major yachting center, and a booming metropolitan division center, Fort Lauderdale could hold the key to your new family.
The key to a less stressful home buying experience is to know what you can afford and getting pre-approved in advance. I am not talking an hour before going out to look at properties. I am talking 2 months in advance. Try not to get swept away by the excitement of being a first-time homebuyer.
Millennials might not understand how important it is to start saving or how to even begin paying for their first home. It is never too early to start putting away savings. The good news is there are programs out there for first-time homebuyers and you can put as little as 3% down or 0% down if you qualify for a Down Payment Assistance Program.
As of right now, interest rates are still at all-time lows. Now is a great time to be looking about buying your first home. Look for a home that is in your budget range, just because you can barely afford something doesn’t mean you should. When buying a home, there are more costs than renting a place, so make sure you are ready for the responsibilities that come with owning a home. There are home warranties you can purchase to help avoid unexpected costs. Enjoy your first home buying experience; you won’t get another first home.