You grew up watching your parents and grandparents buy homes. What you saw was a whole lot of frustration and struggling to make mortgage payments as the economy plummeted. That’s probably why you were turned off at the idea of owning a home.
At least initially.
But you’re grown now. And you have a family to protect. Protection from the uncertainty of where you’re going to live a year from now. Five years from now. If we look at real estate from a historical perspective, owning a home is an investment over the long haul and it benefits a lot of people.
Like your family, for instance.
It allows you to paint your daughter’s walls any color she chooses. Or add that crystal chandelier that floats perfectly over the dining room table. The gazebo in the backyard is there because you spent a weekend with your family hammering nails and cutting planks of wood, making memories with each other in a house you hope will one day receive your children’s children.
As for recessions and economic declines, history has also taught us that real estate always seems to bounce back and blossom.There have always been highs and lows in the market and there will always continue to be a fluctuation.
Here’s 4 tips for you savvy millennial homebuyers.
- Get professional help. I’m not talking about plunking down a couple hundred dollars to see a therapist. I mean get yourself a great Realtor. If you have little knowledge about the home buying process, hiring a Realtor to help you navigate through the waters will be the smartest thing you do.
- The agent you choose should be someone you trust. You must choose a Realtor who has your best interests at heart. But how do you figure that out? By educating yourself. After all, knowledge is power, right? The more you have of it the better armed you are to know what is true and untrue. This comes in handy when interviewing Realtors, which brings me to my next tip…
- Shop around before committing. Interview several Realtors before you hire one. They should pass your highest standards for excellence, experience and expertise. They should be able to give you a plan of how they are going to help you buy a home. Go online and see if they have a great website with a lot of helpful content, clear contact information and make sure they are full-time Realtors (many are not).
- Ask questions– A lot of questions. Make sure you ask questions that really dig into the issues that concern you. How many transactions have they completed over the last 24 months? Do they have references? Be thorough and if you do not have a good feeling about them, then trust your gut and move on.