Based on the latest study from multiple consumer data statistics, Millenials are having a lot of interest in having their own homes.
It is not hard to see why, because they can easily see the benefits of being a homeowner. Not to include the home inspirations from the posts and videos they see on social media and from some YouTubers.
If you are one of those Millenials (or from any generation) who would like to have their own home, here are some of the tips you may find helpful.
1. The House’s Size
If you are moving out from your parent’s house and living with them, chances are you do not own a lot of household items. In this case, a small house would be perfect for you as long as you can comfortably move. On the other hand, if you are currently renting a space and would like to keep most of your items, consider how the large items like furniture and appliances will fit in the new home. Of course, do not forget who you will be living with and ask for their opinion.
2. The Neighborhood and the Environment
Some have been already enticed about some aspects of the house and forgot to check on what kind of neighborhood they are in. It is important to check on what’s going on outside the house, especially if there are kids to live with you. There are mobile apps like Google Maps where you can easily see what is in the neighborhood, or if the essential service you might need is nearby. You may also switch it to Street View if available, to have a virtual tour on the streets of the house that you’re eyeing on.
3. Thorough house inspection
Ask your broker if you can have a thorough house inspection, or if it is even possible to see the house’s floor plan. Especially when you are buying a house that’s even older than you (that’s a possibility), insist on checking the important aspects of the house like the structure, plumbing, electricity, options for remodeling, and other similar factors.
4. The price
The past few years have been good to those who took their home on a mortgage, considering the record-low interest rates that lessened the amount they have to pay monthly. Some offers could be very tempting, but always take note to double-check the amount you have to pay. To help you see how much you really have to finance every month, there are online calculators such as mortgagecalculator.uk. It provides a fast, free, and accurate calculation without annoying ads. It also provides a monthly mortgage payment amortization plan that you may print as a reference.
These are just some of the tips that you have to consider when checking for a new home. The most important is to list down what you would really like to have in a house and see what you can compromise. If you are looking for a house that you would like to stay in for good, remember that your new house should have manageable spaces and can stand the test of time.