Are you in your 20s and looking to buy a house? Are you having doubts that you’re not ready, or don’t think that sellers will trust you to follow through?

If you’re worried about sellers not wanting to sell a house to you because of your age, you should know about potential tools available to you such as earnest money.

If you’re feeling in any way discouraged that you will not be able to buy your own house, reconsider. You are capable of purchasing a house just as much as the next person — but you must be both mentally and financially ready.

To help, we’ve provided a few steps to check out before you make this big decision. 

1. Know Where You Want To Live

To start going through the process of buying your first house, find a place where you know you want to live.

It should be a place that you’re confident you will stay in longer than three years, according to Adheesh Sharma, Fidelity National Financial Inc FNF 0.84%’s vice president of financial solutions.

Your 20s are a time where it’s easy to move around. Make sure that you’re sure that you want to live in this area and stick with it.

2. Build Your Credit Score

In order to apply for a mortgage, you’re going to need to send in a credit score to your lender. In your 20s, you may have either a reasonably low score or none at all.

If you don’t have any credit, consider applying for a credit card and spend a little each month, making sure to pay the bills on time to help build your credit score.

3. Do Your Research

Once you find a house in the area you’re interested in, study the price, location, neighbors and past reviews.

If possible, try physically driving past the house and visiting to see if it’s the best possible option for you financially, socially and personally.

4. Choose A Viable Mortgage Plan

In order to successfully fund your house, you need to make sure that the loan you choose for your mortgage is feasible.

FHA and conventional loans are normally the most common and easiest to qualify, but, you can look into VA and USDA programs as well depending on your situation.

5. Save Your Money

Once you choose your house in an area you love, now’s the time to start saving your money. Not only do you have to prepare for your monthly mortgage bills, you also need to save up for a down payment.

Make sure that you cut down your spending enough that you can gather up enough money for that down payment, mortgage and interest.

Call 352-686.0000 if you are searching for homes in Hernando County, Florida, Spring Hill Homes or anywhere in the tri-county area!

Article provided by Brentnie Daggett.