Last month, we introduced a new series: buying a home in your 20’s, 30’s, and 40’s. There are some awesome perks to buying a home in your 20’s… you can save money on debts, start investing early, and build your credit the right way. Now, for all you home-buyers in your 30’s, don’t get jealous! You may not have purchased a home in your 20’s, but that doesn’t mean you’re behind the curve.
Young people are celebrating their longer freedom and settling down in their 30’s. If you’re in this group, your home-buying goals should reflect the wisdom you’ve gained since your 20’s. Not only will you get the same benefits from home ownership as someone in their 20’s, you’ve learned a thing or two about the right and wrong way to buy a house. Let’s take a look…
Someone who is 30 years old today would have been about 20-21 when the market crashed in 2008; at that time, home-buying was almost non-existent for anyone. But what did we learn from this experience? Home-buying comes down to three main things or what we call “codes”: quality transactions, reasonable fees, and a company you can trust.
Fast, Quality, Seamless Transactions
Buying real estate should be a fun, exciting experience! But time and time again, buyers have become frustrated with the buying process. That’s why working with a company who offers fast, quality, and seamless transactions is a must. In today’s market, these types of transactions are the key to getting you into the home you want and for the price you’re willing to pay.
In our experience, we defined the best home-buying process as such:
- You should be cleared for closing within about 20 days
- You should know what is going on. With quality transactions, you’ll know exactly where you are in the process, and what will come next
- Your movements from step to step should be smooth and easy
There seems to be this misconception regarding how much a buyer should put down on a house. When I have conversations with first-time homebuyers, they don’t realize how much money it takes to secure the home they want. In most situations, you should expect to put down something around 10% of the cost of the home. Why is that exactly? Fees! There are so many fees that go into home ownership. That’s why working with a company that minimizes fees or eliminates them altogether is your best bet.
Working With a Company You Can Trust
How you decide to buy a home comes down to the path you want to chose. Some buyers prefer to put energy and effort into online resources. Others rely heavily on realtors to guide them through the process. We believe the best way to get what you want is work with a company that will guide you in the right direction. If you work with a realtor, make sure he or she is doing their job and getting you connected with the right mortgage company.
A good mortgage company will provide those quality, seamless transactions, save you money on fees, and make sure you get to closing quickly.