Millennials want to own homes.
Seventy-two percent of Millennials surveyed prioritize buying a home over marriage and having children.
The reasons given in the CNBC survey were that those surveyed would like to have stability or feel they are established if they own a home.
The only priority over homeownership is planning for retirement.
Those two could potentially go hand-in-hand.
What many first time homebuyers may not understand is how buying a home works. Meeting with a local real estate agent and lender is an important step in understanding the steps and possibilities of homeownership.
There are a myriad of loan programs out there, and most of them do not require perfect credit or a 20% downpayment. There are quite a few loans out there where your downpayment can be 5% of the sales price or less – depending on qualification – and there could potentially be downpayment assistance programs available too.
For information about buying a home in Baltimore and the surrounding areas, please contact me. I would be happy to help!