How To Build Wealth as a Millennial

Dated: 03/11/2020

Views: 29

Confidence Is the Key to Success for Young Homebuyers

Confidence Is the Key to Success for Young Homebuyers | MyKCM

Buying your first home can seem overwhelming. Thankfully, there’s a lot of great information out there to help you feel more confident as you learn about the process. For those in younger generations who aspire to buy, here are three things to consider sooner rather than later in your journey:

1. Understand What it Takes to Purchase a Home

Overall, Millennials make up the largest group of homebuyers in today’s real estate market, and Gen Z is not too far behind. A recent study shared by Freddie Mac shows, however, that Generation Z isn’t as confident in the homebuying process as Millennials. The best thing potential young buyers can do is understand what it takes to buy a home. Learn as much as you can about the mortgage processdown payment options, and the overall steps to take along the way. 

2. Realize Your Opportunity to Build Wealth 

Homeownership allows you the chance to put a small portion of the home’s value down when you buy, and then watch your appreciation grow on the full value of the home – not just on the down payment. It’s one of the best investments you can make, and a form of forced savings working in your favor over time. The added bonus? You get to live there, too.

3. Find Someone You Trust to Help You Through the Process 

Having someone you trust to guide you through this process is invaluable. Finding a local real estate expert to help you navigate through the transaction and feel more confident as you make important decisions could be the best choice you make.

For Millennials and Gen Z’ers thinking about buying, today’s historically low interest rates combined with the outlook for future home appreciation is a big win. This means whatever you buy today, you’ll be bragging about 10 years from now. You can feel confident about that!

Bottom Line

If you’re ready, buying your first home sooner rather than later is one of the best decisions you can make. But there are many things to consider before taking that step, so let’s work together to help you confidently navigate the full journey.

Blog author image

Arna Freedman - DRE#00925320

Looking for a Pro? Someone who will listen, negotiate and get the home you are looking for with the least amount of stress? I have been successfully working for buyers and sellers in Orange County for....

Latest Blog Posts

First Time Home Buyers do Benefit from Support

Guidance and Support Are Key When Buying Your First HomeIn June, the number of first-time homebuyers accounted for 35% of the existing homes sold, a trend that’s been building steadily

Read More

Eviction Updates for California Owners and Tenants

Get the latest Updates for California Tenants andResources for Legal assistancehttps://justshelter.org/community-resources/#caEviction Rates by State https://evictionlab.org/map/#/2016?geography

Read More

Are You Afraid To Buy a Home NOW Check out Forecast

A Remarkable Recovery for the Housing MarketFor months now the vast majority of Americans have been asking the same question: When will the economy turn around? Many experts have been

Read More

Is it the right time to Sell My House

Thinking of Selling Your House? Now May be the Right TimeInventory is arguably the biggest challenge for buyers in today’s housing market. There are simply more buyers actively looking for

Read More