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 information published on REALTOR.com®.
In an article written by Jamie Weibe, she offers some valuable advice to recent college grads. 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.”
Just a few tidbits of her advice:
- 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.”
- 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.”
- Pay off that debt, “If you’re like most young Americans, you’ll be coming out of college with a mound of debt.”
- 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.).”
- Start saving your money, “No one’s surprised that homes are expensive—you can see the price right there on the listing!”
- Don’t play games with your savings, “Don’t treat the housing market like a casino and gamble with your future home.”
- 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!”
- 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? Make sure to also check out our Florida Relocation Guide! Leave your comments on our blog!
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Article by: Jeannie M. Ferrara