Washington, DC (WUSA9) — More millennials are deciding to end the cycle of renting, and move on to home buying. But before making this life changing decision, there are factors to consider according to the Real Deal in Real Estate Pros.
- Don't be afraid to build relationships. Millennials are used to texting and conducting business through apps. But successful real estate transactions are driven by relationships. It's important to work with a well-connected realtor who knows reputable mortgage lenders and title insurance agents. These professionals work together to get the best offer.
- Learn from past generations. Millennials grew up during the 2006 housing crisis, and may have seen their parents affected by it. This could potentially scare them out of making the investment. Millennials should learn from the real estate pitfalls of the past, and make informed financial decisions for themselves.
- Don't rush. Although inventory is low right now, that may change next season. Prospective home buyers (regardless of their age) should not feel pressured to sign on the dotted line because the market is hot. Use this time to learn the ins and outs of the real estate industry to make the best choice when the time is right.
This article is sponsored by The Real Deal in Real Estate. Contact them for your buying and selling needs.