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Buy a duplex using an FHA loan with 3.5% down and ask for seller to pay closing costs. According to many millennial financial guru's this is the quickest path to wealth in addition to living almost for free if you rent out the other side.
Wow...congrats on being ready to purchase a home at 18. You first will need to get pre-approved if not paying cash. Most realtors have preferred lender they use, or you can start with your own financial institution.
Gina, first I think it's awesome that you have the initiative to go for a house because I also bought my first home when I was 20. I also wish I knew what I know now and also that we had the "tools" that we have now. I have 6 steps that will ensure you do the right thing, and if you do this not only you will buy a house buy will happy you did:
1. Establish credit. Credit is king when it comes to buying so make sure you take it seriously. Establish your credit early will help you build a solid history of debt management, and you can make a plan to reach your credit goals by getting the right credit cards.
2. Identify your Buying Power. Know how much you can afford is crucial to plan, save, and identify the house you can buy. Learning how to manage your debt comes from really understanding your own finances. It's very important to create good spending habits, and how to use a CC correctly to make sure that you don't get in a bind once you buy a home( or any investment)
3. Set your Goals. Now that you know your credit and finances it's time to plan. Only after you control over your finances you can determine how much it will cost you and how long it will take you to get there.
4. Create a Budget. Now you know your credit score, how much you can buy, and how long it will take you to get there, so now is time to execute your plan. Get the right credit card, save, and calculate what you can spend every month in order to save for your down payment. This is good to help you control your spending and make better decisions. with your money?
6 Get with the right realtor. Find someone that will take the time to find your needs and someone that you can connect with. There are 27,000 of us around in Houston all with different interests and personalities, so don't be afraid to interview a few. If you need help in the North West Houston Area I would like to have a chance to interview with you to see if I'm a good fit. You can also contact me if you just want more detailed information about how to complete my 6 steps to successfully buy a home.
First off you would need to get pre approved for a loan to see how much you pre qualify for. I have a private lender I would be happy to get you connected with. She is a first time home buyer specialist and we have helped hundreds of families and individuals like yourself! Please call me today to get started, thanks and good luck!
Hey Gina! There are several things that will help guide you through the process. First, find and agent that will help guide you through the entire process. Second, find a lender that will work with you to meet your goals of home buying. Wish you the best!
Congratulations on making a huge step to home ownership. Buying your first home is exciting. Be sure to contact a reputable Realtor in your area. If you need a referral I am happy to refer you to an agent in my network that will help guide you through the process.
Congrats, that is huge wanting to buy a home at 18! Definitely talking to a lender and a Realtor are the next steps. What area of the country are you in? Feel free to give us a call!
Contact me. There are several steps involved, but it's not too complicated. There are several things you need to do and most importantly "not do" once you begin the home buying process.
You can contact local REALTORS, interview therm and hire. If they aren't willing to assist you with a "pre-qualification" and the rite lender, then move on to the next. Best wishes!
Nikolas Marulis PA
Getting pre-qualified is the first step in purchasing a home. I have a couple of lenders that I can refer you to in order to get the process started. Contact me anytime and I will be happy to help you.
Getting pre-qualified is the first step to purchasing a new home. I have a few lenders that I can refer you to in order to get the process started. Once you have done that, feel free to contact me and I will be happy to help. Cat Slussler
The first thing you should do is get pre-qualified to know how much you are approved for. After that, contact a licensed agent such as myself to help you with this process. I have a private lender that specializes in first time home buyers and can definitely help you save some money. Please contact me soon, so we can begin asap thanks! Omar