For all of the flack that millennials get, you’re also in a uniquely precarious position when it comes to being first-time home buyers. So in order to address those unique challenges that you’ll face when buying your first home, we invite you to keep these important tips in mind, so that the admittedly convoluted process of buying a house is made simpler for you!
- As millennials, you’re not in the same financial position as your parents and grandparents before you. Many of you are graduating University with a HECS debt and only a small amount of savings. To that end, make sure you truly are in a good position to buy a house…because not all of you are, or will be.
- Make no mistake about it: you will need the aide of a real estate agent. Don’t make the mistake of looking for a house on your own. The help of a real estate agent, especially for a first-time homebuyer, is invaluable.
- Don’t go into the home buying process with the intention of buying a “forever home” unless you can afford to do so. There’s nothing wrong with buying a “starter home” (something that’s smaller, suitable for just yourself and your house/life mate), then selling it for a higher price than you paid for it, when the time is right and you’re in a better financial position.
- Finally, but certainly no less importantly, take your time, be patient with yourself, and trust the process. This cannot be stressed enough.
Mortgage Masters are expert mortgage brokers in Newcastle, Maitland and Hunter Valley. Get the best mortgage advice and help finding your new home by contacting us today!