The oldest members of Generation Z are now at the right age to enter the real estate market and a good percentage are reportedly determined to be a homeowner, taking out mortgages instead of other types of debt. Although mortgage rates have become more affordable for Gen Z to purchase a home, finding the right one might be a challenge. It’s important for these young homebuyers to know that there are different types of homes available in the market to help them fulfill their American dream of homeownership.
Here’s a scenario: You found a seemingly perfect property to be called home that’s just right or even below your budget range. It is newly painted, with an updated kitchen, and is located in a good neighborhood. You learned from the property disclosures document that you just need to do very minimal repairs before you move in and you don’t need to spend much. But later on, after you and your family moved in, you start to experience some weird stuff like unusual footsteps from the hallways in the wee hours, or perhaps the smell of popping popcorn in the kitchen but couldn’t find any. After sharing your odd experience with a neighbor, you were told that your home was previously owned by a person who died inside the property’s kitchen. What’s even bothersome is that family members of the previous owner were notorious in the neighborhood for practicing witchcraft.
Massive data breaches are becoming common nowadays. A few days after the massive Equifax data breach settlement news broke out, Capital One reported that sensitive information of roughly 100 million consumers in the U.S. has been compromised. As someone planning to buy a home, it is critical that you know if you’re affected by such breaches, especially if you’re applying for a mortgage.
It’s normal for first-time homebuyers to feel overwhelmed by the process of becoming a homeowner. First-time homebuyers are often excited in the thought of making one of the biggest investments in their lives. Along with this, they also need to make solid financial decisions to determine if they can sustain living in the house they are choosing.
Shopping for a mortgage and home is the first step you need to take if you want to fulfill your dream as a homeowner. Buying a home is often overwhelming simply because you’re making one of the biggest financial decisions in your life. Before applying, it’s smart to educate yourself on the mortgage process and programs so that you can better understand your options.
A growing number of millennials are reportedly choosing to live in the suburbs over big cities. Factors like good weather and better employment opportunities make this age group choose smaller metros. We’ve listed 10 of the best suburbs where you can buy your first home as a millennial.
Setting a budget and saving money for a down payment can be a challenge, but a gift from a willing (and generous) family member can certainly help reduce the financial strain. However, before you head to the bank to make the deposit, there are some rules and requirements that you should know about accepting gift funds.
Considering buying your first house? Before you can open the door to your new abode, you’ll first need to tackle the homebuying process. For first time buyers, this process can be especially daunting. To help make your first purchase a smooth one, avoid these six first time homebuyer potential pitfalls:
When preparing to buy a home, one of the biggest factors for your mortgage is how much of a down payment you are able to put down. The larger your down payment is, the lower your loan and monthly payment will be. So, how will you save? Check out our 6 tips for saving for a down payment:
The journey to homeownership can be a daunting process – especially with today’s limited housing inventory and competitive real estate markets. That’s why now, more than ever, it is greatly beneficial to work with a professional Realtor. Here are 6 perks to working with a Realtor: