5 tips for millennial home-buyers

5 tips for millennial home-buyers

It’s no secret that millennials are a large powerhouse in the consumer world. However, many people forget that millennials are also making their way to the real estate world, buying more property than ever before.

Here are 4 tips every millennial home buyer should know.

1. Get pre-approved
Getting pre-approved and knowing your credit score before exploring the real estate market is crucial. Reach out to a local mortgage broker who can assist you in your pre-approval process by running your numbers and laying out your options. Take into great consideration your average lifestyle spending and savings, and fully assess your budget. It’s not uncommon for a lender to approve someone for more than they are able to take on and afford. It’s up to you to be responsible and properly calculate just how much you can spend.

2. Make a Wish List:
Before you begin searching for your dream home, make a list of all your wants and needs. Make sure your list is realistic, and keep in mind that not all your wants can be fulfilled. Once you have your list finalized and ready to go, take it with you on house tours and share it with your real estate agent.

3. Meet and talk to the neighbors
When touring prospective homes, make it a point to meet the neighborhoods. Do your best to educate yourself on the neighborhood and community.  This will not only help you to better envision where you could be living, but it also allows you to ease into the move with pleasure in knowing you have established a relationship with your neighbors. You never know if or when you’ll need the help of your neighbors, so it’s always a good idea to establish that friendly relationship early on.

4. Conduct a home inspection
Before purchasing your dream home, hire professionals to conduct a thorough home inspection. Just because a home has a beautiful lawn, white picket fence and palm trees, doesn’t mean there’s nothing wrong with it. Hiring a home inspector will allow you to get a better idea of any future repairs you may need. You would be shocked at all the hidden secrets a home inspector is able to reveal.

5. Hire the right real estate agent
Don’t just hire the first real estate agent you come across online. It’s important to find a seasoned professional who is willing to educate you about the home buying process, and is familiar with the neighborhood and community in which you are looking to buy. Find a real estate agent who compliments your personality and you feel you’re able to trust. Having a good real estate agent is crucial to your success. 


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