Advice for First-Generation Buyers

The sense of pride you’ll feel when you purchase a home can’t be overstated. For first-generation homebuyers, that feeling of accomplishment is exponentially greater. That’s because the pride of homeownership for first-generation buyers extends far beyond the homebuyer.

In other words, your dream of homeownership has far-reaching impacts. If you’re about to be the first person in your family to buy a home, let that motivate you throughout the process. As you begin your journey, here are three helpful tips to make that dream come true.

1. Reach Out to One of Our Agents

It’s important to reach out to a trusted advisor early in your home buying process. Not only can an agent help you find the right home, but they’ll serve as your expert advisor and answer any questions you might have along the way.

Our team here at Corken + Company is a great source of information throughout the process. They’ll help you understand what’s happening, assess a home’s condition, and negotiate a contract that has the best possible terms for you. These are just some of the reasons having an expert in your corner is critical as you navigate one of the most significant purchases of your life.

2. Do Your Research and Know What You Can Afford

The second piece of advice for first-generation homebuyers is practical: do your research so you know what you can afford. That means getting your finances in order, reviewing your budget, and getting pre-approved through a lender. It also means learning the ins and outs of what it takes to pay for your home, including what you’ll need for a down payment.

3. Don’t Lose Sight of What Home Means to You

Finally, it’s important to keep in mind why you’re searching for a home to begin with. Overwhelmingly, first-generation homeowners recognize the financial and non-financial benefits of owning a home. In fact, in a recent survey:

73% of first-generation homeowners say the safety and security homeownership provides is increasing in importance.
Nearly two-thirds of first-generation homeowners say the importance of building equity in a home is growing more important as well.

If you’re a first-generation homebuyer, being prepared and working with a trusted expert is key to achieving your dream. Connect with a real estate partner here at Corken + Company, we are eager to help you on your way to buying your first home!