Millennials face numerous challenges when buying their first homes. 55% of young adults between 25 and 34 years old don’t own homes as compared to 80% in 1967, according to data from the Census Bureau.
Buying your home can be nerve-racking, especially if it’s the first time. The buying process is exciting and often complex. The chances of making a mistake are relatively high.
Foreclosures give homebuyers the opportunity to get great deals. While foreclosures can save you thousands of dollars, it may come with risks. Having a stomach of steel can help when pursuing a foreclosure.
Buying a new home is an exciting time, but excitement can easily turn to stress if there isn’t enough money to pay the monthly mortgage bill. The added expense can take some time to get used to, but there are ways to make the payments easier, especially in those first few months when money is the tightest.
You probably already know that qualifying for a mortgage can be the biggest hurdle — aside from actually finding that dream property — along the path to home ownership.
It’s not uncommon today to move several times during adulthood, whether across town or across the country. Seasoned home buyers have been through the real estate process, often more than once. However, even if the home purchase has become routine, there are mistakes that can be avoided.