In past years, young people in their 20’s or 30’s (known today as millennials) bought so-called “starter homes”, generally in places where they grew up. In other words, they wanted to deepen their ‘roots’, as well as acquire the status that comes with being a homeowner.
Times have definitely changed, however. Today’s millennials want more mobility and the freedom to travel, so this has naturally made renting a better option for many. However, rental rates have been steadily on the rise, and this is encouraging some young people to pursue home ownership as a means of building equity. If you’re one of those millennials looking at various homes for sale in Fishers, IN for potential purchase, here are a few tips to help you get started.
It is very important to know your credit score and get pre-approved before house-shopping for homes in Fishers, IN. Pre-approval is crucial, as this will allow you to limit your search efforts to homes in your price range, and give you the confidence of knowing that financing will be there when you’re ready to buy. Pre-approval also gives realtors and sellers assurance that you are a serious buyer, fully prepared to commit to a purchase.
Keep Your Expectations in Check
Even if you’re qualified for a certain loan amount, it doesn’t mean you have to buy to the limit. Size up your needs and your choices, so you don’t end up buying more than you can actually afford in the long run.
Work With a Real Estate Agency You Can Trust
You’ll want to work with an experienced agent who is knowledgeable in the market, and is patient enough to guide you through the entire buying process to find exactly what you want. It is important to work with someone you can trust and have confidence in. While conducting a home search on your own might seem appealing in some ways, it can lead to costly mistakes. Firms like Berkshire Hathaway Home Services – The Tim O’Connor Team can be relied upon to take the time to understand your needs and desires, and help you find the home of your dreams.
5 Tips For Millennial Home Buyers, Zillow.com, June 20, 2014
Here Is When Each generation Begins And Ends, According To Facts, The Atlantic, March 25, 2014
Rising Rents Are Finally Forcing Millennials To Buy Houses, Bloomberg, March 25, 2015
6 Things Millennials Should Do Before Buying A House, Huffington Post, February 13, 2015
10 Tips For Millennial Home Buyers, LivingBetterTogether.com
Tips For Millennials Hoping To Buy A Home, MyBankTracker.com, July 23, 2014