Tips For Millennial Homebuyers

The housing market shift is here, and it’s not going anywhere. So, if you are thinking of entering the market, it is an exciting time for you. So, we put together some tips for millennial homebuyers.

Millennials are the first generation to be entering the housing market during a time of such rapid change. The market has been in a seller’s market for the last 3 years and now it is shifting back to a stable market and in some cases a buyer’s market.

The current state of the housing market is one that’s very appealing to first-time buyers: there are more homes available for sale, and prices are coming down. This means that millennials who have been waiting to buy their first home can finally take advantage of this opportunity!

But before you get into the market, here are a few things you need to know!

Although the housing market is cooling down now’s not the time to embark on a purchase without someone to guide you through the process. If you’re a first-time homebuyer, it’s even more important to have someone who understands your needs, concerns and stresses. Many home buyers think they will get a better deal if they are not using a realtor.

What they don’t realize is that the sellers pays the realtor’s commission.   Not working with their own agent only puts more money in the sellers pocket.  When the listing agent is working for both the seller and the buyer  this may not be good news for the buyer.

If you are a home buyer and don’t have an agent, we would love to connect you with one of our trusted partners. We’ve been working with agents for over 37 years and know who is established, hard working, and will work well with first time home buyers. We know you’ll have lots of questions throughout the process, and our partners will be there for you the entire way. Give us a call 727-688-2851.

Shopping your mortgage makes sure you’re getting the best deal. It’s not just about interest rates, but the all-in costs and other terms and conditions on your loan. Since rates change every day and can change more than one time in a day, it is important to shop mortgage lenders within the same time frame. Or, if you don’t feel like calling banks, lenders, and brokerages, you can partner with an independent mortgage broker. Independent brokers can go to all the banks and lenders on your behalf. They are not working for a specific bank, so they can shop the market. We know Debbie Cooley Mortgage isn’t the only independent broker, but proud of our 5-star rating on Google and we have 37 years of experience getting homeowners the best rates with the best terms for their circumstances. Give us a call 727-688-2851.

You don’t want to wind up with more house than you can afford. Keep that budget going once you move, too. The top regret for millennial homebuyers was unexpected maintenance costs. You’ll want to be ready to cover whatever issues inevitably crop up. At Debbie Cooley mortgage, we analyze your debt-to-income ratio and help you determine your budget. This service is free regardless of whether you decide to start look for a home or wait to buy.

Long story short…

We know it’s a little more complicated than that, so give us a call. Debbie at Debbie Cooley Mortgage will answer all your questions and will educate you about the home buying process. Best of all, if you decide you want to buy a house, Debbie can get you the money!

Call 727-688-2851.