Why Millennials Should Buy A Home Now

Dated: October 25 2018

Views: 120

We've all heard folks saying that it is harder for millenials than it was for the previous generations to buy a house. It is probably true given that the cost of living has gone up and there are much more expenses and must haves these days.

Gadgets, eating out, student loans and inflation means that the average millenial’s expenses may not leave much room for purchasing a property. Not to mention that property prices are going up and the job market is volatile in recent years.

Are you a millenial and does not own a home yet? Are you planning for home ownership in the near future? It may seem impossible but by prioritizing it, you can and it will benefit you greatly in the long run.

Our next blog will be all about the essentials that millenials should know when buying a home but before that, here are four reasons to convince you to get one!

Rent vs Mortgage Payments

Making your mortgage payment is essentially the same as paying your rent (or cheaper in some instances!) except you are putting that money into owning the property instead of paying somebody else's mortgage. So why not start to pay for your own home and build some equity?

Investment

Home purchases can be an investment too. If you are having a hard time paying the mortgage on your own, why not get a starter home and turn it into a rental property to help you pay it? You can live there while renting it out.

Low Down Payment Options

In recent years, borrowers are now able to get more options when buying a home especially in Alaska. There are also mortgage options with low down payments especially for first time home buyers. By taking out a loan, you’re actually doing yourself a favor as homeowners are worth 40 times more than renters.

Time is Gold

Don’t want to still be paying your mortgage when you should be enjoying retirement? Start planning your home purchase now. Think about it, if you start early, you'll finish early.

If you need help finding the perfect home for your lifestyle and budget in Alaska, call us at (907) 570-6757 or 907-720-4663 and get ready to move in!

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Vanna & Co. Real Estate

Vanna has called Alaska home for the past 15 years. As a mother, real estate investor and previous business owner, Vanna brings many different perspectives when working for her clients. She has been a....

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