Many people choose to wait until they're married in their 30's to buy a house. Until they decide to take the plunge, they may spend as much as a thousand dollars a month renting an apartment or home. That money is essentially wasted. Why not use that same money to invest in your future?
So why should you buy a house when you're young? Real estate is one of the few assets that tends to appreciate in value over time. If you buy a house when you're young, you have the option of selling it later in life for a profit. Or you could rent the house out and use it as an additional source of income.
You may believe that you cannot afford to buy a house; however, if you can afford to rent an apartment then you can afford to buy a house. This is a buyers market and don't let anyone tell you differently. There are new foreclosures and short sales coming onto the market every day at rock bottom prices. I've seen 1700 square foot houses listed for less than a hundred thousand dollars. Still think that it's out of your price range? In many cases, a monthly payment on a 30 year mortgage is much less than a monthly rent payment. Especially with the historically low interest rates. A few years ago, a 4% interest rate on a home mortgage was unheard of, but is now a reality. For a $100k loan at a 4% interest rate over a 30 year term, the monthly mortgage payment would be less than $600. That is ทาวน์เฮ้าส์มือสอง ราคาถูก as much or less than the average monthly rent. There are many online mortgage calculators available if you would like to verify this information. And as an extra bonus, there are many government programs available to help first time home buyers with down payments and closing costs. If after all of that you're still worried about affordability, you can consider getting a roommate to cut down on costs.
So, to get started, you should contact a bank and get a pre-qualification letter that states the loan amount that you could potentially qualify for. The bank will pull your credit report and ask for your most recent paystubs in order to determine your eligibility. There are a few factors that the bank will look at closely when determining your eligibility. They like to see a certain amount of stability in an applicant. Most banks require for applicants to have a minimum of 2 years of stable job history. Once you receive a statement of your eligibility and loan qualification you can start shopping. You may choose to contact a real estate agent but it is perfectly acceptable to search local real estate listings yourself. However, a real estate agent has access to many more listings. It is better to have a real estate agent from the start because they can make the process much smoother.
This is all a matter of opinion, but it is based on my personal experience. I am a single 21 year old college student on the brink of graduation. I am also in the process of buying my first home. It may not be right for everyone, but it is something worthwhile to consider.
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