Millennials You CAN Buy a Home!

 

Many potential homebuyers don’t realize that they truly don’t need a large down payment to buy a house. Our RE/MAX CEO Dave Linger recently authored a commentary on Investor’s Business Daily http://www.investors.com/politics/commentary/the-down-payment-myth-stumps-first-time-homebuyers/ further detailing the often believed, but false idea that a buyer needs a large down payment. 

Potential buyers have no idea that they can stop renting and start buying with as little as 3% down. Home ownership is not just for the wealthy. According to Mr. Linger, “73% of millennials have little to no awareness of such finance options. Last year, as many as a half a million potential first-timers may have delayed home buying because of what's in their heads, not what's in their wallets.” That’s huge! The people in this age group, 19 to 35 years old remember much about the recession and not of better times. Lending criteria have become more reasonable again, although verifiable income and good credit are still a must. Millennials need to learn that home ownership is well within their reach. 

In most cases, it’s a better value to buy a home than to rent. Home ownership helps to build net worth and stability in the community, and for the children of home owners. Student loan debt can still be an obstacle, but with interest rates at near record lows, it’s simply the best time for potential homeowners to make the move and purchase a home. 

At RE/MAX Flagstaff our dedicated REALTORS® are driven to serve you and are committed to success. Please let us know how we can assist you with your real estate needs. Call us at (386) 246-8585.

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Saturday, 21 September 2019

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