It’s scary, it’s intimidating, it’s uncertain, it’s buying your first home. Interest rates have been low for a while now, so buying your first home has never been easier.
But so many first time home buyers get overwhelmed and intimidated by the process, that they forget why buying is the best thing to do.
- Independence – Get out from under your parents roof or from living with roommates. The freedom of having your own space is amazing (maybe a little daunting at first but it’s not as scary as you might think). Your space, your rules!
- Not falling into the rental trap – If you’re going to be spending $18,000 – $25,000 a year living on your own anyway, why not put that toward YOUR own home. Everyone has a fear of the market and price drops, but if you’re renting you are losing that money anyways! Housing prices might drop short term, but long term, prices have always increased and you are going to need a roof over your head for the rest of your life.
- You’re a grown-up now – You’re done with school, you have a full time job. You may not want to admit it, or even recognize it, but you’re a grown up! It may seem scary, but getting your own place gives you a sense of pride (or maybe that’s a sense of maturity?) you’ve haven’t experienced yet.
- Your social life – Want to have friends over or hang out with that girl/guy you’ve been dating? Having to say “your parents or roommate might be home” is one sure way to kill the mood fast!
- The longer you wait the harder it can be – You want to wait until you get that promotion/better job, until you can afford that bigger home, until the market improves? There are millions of reason why you might want to wait, but while you wait for the perfect timing, your perfect house might just be getting further out of reach. By the time you have a better job or wait for the market/economy to improve, guess what? Prices have already gone up, meaning you need more of a down payment and your mortgage will be higher. Just a 3% increase on a $350,000 house is an extra $10,500.00!
So stop waiting and come in to talk to your Willow at Sherwood team. We will help guide you through buying your first home, making it seem less daunting and more exciting!
Until next time,
TaraLynn @ Willow in Sherwood