Homeownership is one thing that you don’t have to put off!Your 20s are the start of an exciting time in your life. You may hit important milestones during this time like graduation, your first job, and marriage so why not add owning your first home to that list! These steps can help get you in the right mindset to prepare to purchase a home at a young age.
- Budget- Plan out all of your expenses (yes, ALL of them). It is important to have an organized method where you can see exactly what your expenses will be and how much you can afford. This way you don’t fall in love with a house that is out of your price range.
- Be realistic- Time to think about what it is you MUST HAVE in a home and what you can live without. As nice as an in-ground pool with a hot tub or a six bedroom place with a five car garage may sound, you might have to hold off on a few of those amenities for the time being. Sticking with feasible amenities - dishwasher, laundry, a garage- will help your first home purchase be more realistic.
- Ask yourself – What is most important? Going along with being realistic it is also important to ask yourself what is most important to you. Would you rather live close to work? Or closer to family? What kind of neighborhood are you looking for? How much yard space do you want? These questions can be very important when it comes to finding the perfect place.
- Plan for the future- Think about how long you want to be living in the house before you make any decisions regarding the house or a mortgage. If you decide that you are in it for the long haul then get your pen ready for paperwork.
- Be prepared for home improvements- Most young first time homeowners expect a brand new house with no tune up necessary. However, a little DIY home improvement work never killed anybody! A few projects that will keep you busy and help you further tailor your home to your specific tastes.
We hope that these tips give you a better idea of how to mentally prepare yourself to buy a home in your 20s. If you are interested in financing a home in your 20s or financing at any age please feel free to contact a member of our Housing Buzz Team.
No related categories
No related entries