3 bedrooms, 1.5 Bath, 1 car garage in Dallastown schools.
Buying a home in your twenties…. can it be done why absolutely. I bought my very first home when I was only nineteen years old. Thinking of the economics of it, you need a place to live and you are going to pay for those four walls and a roof, why not invest in yourself and purchase versus paying a landlord’s home off with your monthly rental payments. So how do you go about buying your first home…….
- STABLE EMPLOYMENT obviously is a must but I put in there “stable” because there is nothing more stressful than having a home and not knowing how you will continue to pay your mortgage and the maintenance. Working hard to establish yourself a secure position helps secure your financial future.
- CREDIT – yes you will most likely need to finance your home purchase and you will need to have credit to do so. Start off with a small simple credit card to pay for every day expenses. The key is to pay this bill in full each month so that you are not placing yourself into unnecessary debt but that you are establishing a credit history for future creditors to determine if you are creditworthy.
- PRE-APPROVAL – once you have the job and you have the credit established before you look at any homes you will want to work with a reputable lender to get pre-approved for a mortgage. This prepares you for the sales price range you will be in. Keep in mind most lenders will pre-approve you for well more than your personal budget for that monthly housing so be sure to write down a budget to know what you are personally comfortable with paying.
- ESTABLISH A TEAM – you want to have a team of professionals working for you at this point. LENDER, REALTOR, HOME INSPECTOR, TITLE COMPANY. These are all examples of professionals you will want to team up with to make sure that you have a great first time home buying process. Most Realtors will have a good list for you to start with. Do your research make sure that you feel comfortable with the professionals you work with and that they answer all of your questions. Working with local professionals is best as they will know and understand the market you are in and be best prepared to assist you with this very important purchase
Getting those keys on your settlement day is so exciting. Know that you can do it with hard work and determination, anything is possible.