A Note to grads in South Florida!
A Note to grads in South Florida!
Whether you are looking to make South Florida your permanent home, or are planning a seasonal residency, you will find that we South Floridians love to make good use of the latest information published on REALTOR.com®. In an article written by Jamie Weibe, last year, she offers some valuable advice to recent college grads that is just as good today.
In part, Weibe mentions, “Congratulations, new grads: You’re free! After four long years at college, it’s time to move on to the next stage of your life: adulthood.
That means you get to start thinking about exciting things like your first job, a 401(k), and—sexiest of all—homeownership.”
Weibe adds, “Start preparing now, and buying a house won’t be a struggle. “If you make good money, you have a clean credit rating, and you’ve got enough money set aside for the down payment, buying a house is not really a big hassle,” says Stewart Koesten, the chief executive and executive chairman of KHC Wealth Management in Overland Park, KS.”
Excerpts of her advice:
“1. Get your credit score in order
Sure, your mailbox may be overflowing with credit card offers and the idea of “paying the bills” still seems a bit confusing, but now’s the time to start getting your credit score in shape.
2. Consider jobs with homeownership in mind
It might be a little too late to change your major, and we’d never suggest passing up your dream job just for money.
3. Pay off that debt
If you’re like most young Americans, you’ll be coming out of college with a mound of debt.
4. Decide what kind of home you want
You’re young—it’s OK if you don’t know a ranch home from a Colonial. (Unless you were an architecture or urban planning major, in which case, uh, maybe brush up on Design 101 before graduation.)
5. Start saving your money
No one’s surprised that homes are expensive—you can see the price right there on the listing!
6. Don’t play games with your savings
Don’t treat the housing market like a casino and gamble with your future home.
7. Don’t fall for lifestyle inflation
It’s fun to make money: More nights on the town! A bigger apartment! You can finally get a dog!
8. Start small
Your first home doesn’t have to be your forever home. You may love the idea of a white picket fence and multi-acre lawn—but it’s OK to start saving with a smaller home or apartment in mind.”
Sound advice? What are your thoughts South Florida? Current homeowners, what would you recommend to your younger self just graduating college about buying that first home? Leave your comments on our blog!
We here at Water Pointe Realty Group just love to share helpful and interesting information, and assist potential new residents discover that being a Floridian is a unique lifestyle. We are looking forward to communicating with our past, present, and future clients from Stuart, Hobe Sound, Tequesta, and Jupiter waterfront homeowners. Please make sure to visit our Home Buyers Services page to give you some great information about the first steps to becoming a client with Water Pointe Realty Group.
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Article by: Jeannie M. Ferrara