Millennials Obstacles To Buying a Home

I am a millennial. Being a millennial means we are a part of Generation Y. A recent study was taken to survey the obstacles that we face when buying a home. The study surveyed 2,000 millennials to find their top concerns. The top three concerns include: a down payment, a credit score, and the process and how to start.

1. A Down Payment

The biggest concern was making a down payment. Usually when buying a home a down payment is 20% of the sales price. Many do not know that sometimes it is possible to pay under 20%. This is because there are down payment assistance programs available to you. The next area of concern is credit score.

2. Credit Score

Many ask me what is a good credit score. A general rule of thumb is a score above 600 is better than a score under 600. Usually if you have a credit score under 600 you will probably have trouble securing credit. In the 600 to 700 range, you may be given a loan, but it could be at a higher interest rate. If you have a credit score of 700 and up this is considered to be a great credit score. Your credit score is important and easy to improve. Spend some time focusing on your credit score and before you know it you will see improvements. The next area of concern is not knowing the process and how to start.

3. The Process

Starting to search for a home is easy! That is where I come into play. I understand what Millennials want. I have done the research to find the best locations, amenities, and best home purchase values for all of Indiana. And of course I can customize additional requirements to meet your needs and answer any of your questions. What I can do for you, like I have done for clients in the past, is to start by teaching you the basics. I will explain to how the whole process works so that you have a better understanding. Once you feel comfortable with the information that your given we can decide if you want to start the process and look for a home!

If you have any questions or concerns I am always here to help. Also, if you or anyone you know is looking to buy or sell a home, I'd be happy to help! Feel free to give me a ring!

Elaina Musleh

Bif Ward Real Estate Group

Talk to Tucker

Direct Cell: (317) 650-5898

ermusleh@gmail.com