Why Millennials Should Buy A Home Now?


We've all heard everyone saying that it is harder for millenials than it was for the previous generation to buy a house. Yes, it might be true given that there are much more things to spend your hard earned money right now like  gadgets, fancy food everywhere, student loans, inflation and many other things millenials has to pay compared to the previous ones. Not to mention that property prices are not getting cheaper and job market is not in such a good shape too.

So, the question is…Are you a millenial and does not own a home yet? Would you like to own one? 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 about the things millenials should know when buying a home but before that, here's 4 reasons to convince you to get one.

Rent vs. Mortgage Payments

Making your mortgage payment is essentially the same as paying your rent except you are putting that money into owning the property instead of paying somebody else's mortgage. So why decide to start paying for your own home instead of somebody else's as early as now?

Investment

This 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 to some. Or if you've saved enough and can afford to buy your dream home at some time in the future, you can still rent or sell it.

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 payment 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 the renters.

Time is Gold

Are you dreaming of still paying your mortgage when you’re over 60? Think about it, if you start early, you'll finish early.


Hundreds of ways are available to help you get your own home. If you need help on finding one in Alaska, you can call us (907) 570-6757 or 907-720-4663 and we'll help you find the right one!

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