Millennials: How to Buy Your First Home
Are you a millennial unsure whether to rent or make the leap to purchase your own home? Not familiar with the mortgage options or where to start? Tune in to the latest episode of How’s The Market. Real Estate. Real Answers. Millennials: How to Buy Your First Home
Nancy Braun, host and owner of Showcase Realty is joined by Wes Pruitt with Reliance First Capital; Ashley Fomen and Heather Hamilton, Millennials who recently purchased their own home, along with their respective real estate agents.
Listen to this episode and learn how these Millennials were able to successfully purchase a their own home.
I had set a goal for myself to buy a home by 25 and thankfully I was able to reach that goal. And once I started looking for a home, I did some research and I discovered that, as you mention earlier, rent was actually in many cases, more expensive than purchasing my own home. – Ashley Fomen
That’s something cool about the Charlotte market. I always think we always can find the right house for someone. There’s such diversity in the market out here. – Nancy Braun
203ks is just an amazing program. They will in fact, allow you to purchase the home and like we were talking about, they will have contractors come out and bid on making the improvements so they will loan on the home in an as-is condition, however, give you the value based on the improvements already being made. – Wes Pruitt
Applying for the loan is a little intimidating. I would recommend that as people go into searching for a loan, that they have all their ducks in a row with paperwork and I recommend that they keep all of their tax returns, W2s on one location and any important documents so that last minute you’re not scrounging around looking for everything. – Heather Hamilton
I never thought that I could own my own home but it happened. So definitely, just start looking and look into the programs that Wes has just mentioned and see if any of them speak to you and know that you can do it. It can happen. – Heather Hamilton