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Southern Utah Realtor

Make Zion Your Backyard
​See Homes Today Call: 
​435-220-3393

FIRST TIME HOME BUYER - DO YOU HAVE TO BE IN YOUR MID 30'S?

​   If you would like to skip the reading and get straight to it, just fill out the form to the right or call 435-220-3393. One of our realtors will answer any questions you have. 

When you think of a homeowner, do you think of a college student? Probably not. The average age of today's first time homeowners, according to Zillow, is 34. Why is that? Does it take 16 years after graduating high school to get a decent credit score? Does it take 16 years of skimping and saving to be able to afford the down payment? 
No!
 
     According to Experian, one of the major credit bureaus, it takes between 3-6 months of regular credit activity for your file to become thick enough to calculate a credit score. Also, there are  many financing options available with an extremely low down payment! The reason that 34 is the average age of first-time home buyers, is because not many understand how easy buying a home is. If you want to buy a home in your 20's, here are 5 easy steps.
Woman dressed in a bright red sweater with one arm around a man wearing a green and gray striped sweater. The man is holding his hand out and a another hand is holding keys to their new home to give them.
A man wearing a cream sweater balances two moving boxes, one in each hand. He is laughing like he might tip over and he finds that amusing. There is a woman to his right holding a mop sideways as she was cleaning to prepare to move. The home behind them has boxes stacked.

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1) Commit. 

    Buying a house is likely one of the largest purchases you will make in your entire life. You need to know that you are ready for that type of commitment. Most home buyers stay in their residence for at least three to five years, mainly to recoup from the cost. Unlike renting, you are responsible for maintaining the property. However, you won't have to renew a lease, deal with a horrible landlord, or room mates. 

​2) Understand Your Finances. 


    When it comes time to buy a home, a lender will consider every part of your financial picture. From your salary, to your bills and spending habits, to the money that your Aunt Jill sent you when you graduated. Since the bank is going to dive deep into the depths of your financial history, you should probably do the same. Find out how much money you have coming in and going out, and how much money you would be able to devote to a monthly mortgage payment.
     When you are considering your finances and budget, also consider the fact that home ownership fees don't end with the monthly mortgage payment. Home owners are responsible for insurance, property taxes, and any money it costs to cover routine maintenance or unexpected home repairs. Even though there is more than just mortgage that you are responsible for as a  property owner, it may still be cheaper than paying rent. It all depends on your situation.  If you want to know for sure, fill out the form on the right to get a hold of a real estate professional, or call 435-220-3393. ​
Modern style home in southern utah. The house is geometric shaped with a jut out at the front. There is blue paneling along the front of the house and gray and white rock a quarter of the way up the home. The house is surrounded by tall pine trees and there is a warm glow coming from large front windows.
A cozy home library featuring a large bookcase that fills the whole back wall. The shelves are filled with trinkets from all over the world. Books like the shelves to the right of the bookcase and there is a sliding ladder that can roll across the bookcase. In front of that there is a large cream colored couch with studs on the arm rests.  Fluffy cream pillows fill the couch. In front of the couch is a dark brown coffee table with a large green leafy plant.
Picture of a white clean sleek bathroom. Two above the counter sinks reside on the black granite countertop. There is a large mirrow behind them against the wall with 2 bright overhead ceiling lights. Aqua blue towels hang on 2 towl racks in front of the counter. Off to the right is a wall and a white shower.
3) Credit and Savings 

    We touched on credit before, and how it takes an average of 3-6 months to build some type of credit, but how good is yours? The higher your credit score, the lower the interest rate you will have on a loan and the more you can qualify for. Savings is also important, because of the big down payment. Do you have enough money for a down-payment? Here are some numbers that are guidelines! This is not a guarantee, but basic guidelines for what the minimum credit score and down-payment are for different programs. 

    Conventional and FHA loans usually have a minimum FICO score of 620. The down payment can be as low as 3%-3.5% of the total purchase price in some programs. For Veterans and those living in rural housing, there is a possibility of 100% financing. Again, these are relative GUIDELINES. Talk with a lender to see what you can qualify for. To find a lender that is right for you, fill out the form to the right or call 435-220-3393. ​
4) Find a Lender and Get Pre-Approved 


    All buyers differ and lenders do as well. Some offer different programs or have different specialties. Most people have the misconception that once you are pre-approved, you have signed away your soul to that one lender. That is not the case! You do not have to choose the first lender you speak with either, you have the ability to cross-check many lenders to find the right fit for you. 


5) Work with an Agent you Trust 


    Ah yes, the ever-important last piece of the home-buying puzzle. This is one example of when DIY is not the right mentality. It all sounds so easy until you try write up an offer. There are many do's and dont's of contract writing that only those who do this professionally understand. Professional real estate agents have the training and know-how to lead any first-time home buyer to a place that is right for them, for a price within their budget. Your trusted realtor will help you make up your "needs and wants" list when it comes to a home. They will help you consider your long term goals. They will search for homes, show you properties, negotiate and walk you through the entire offer and closing process. Right up until those front door keys fall into your hands. 

​    If you are in your twenties, and feel like you are ready to buy a home, GREAT! I want to help! We want to help! You are never too young to start planning your future. Fill out the form to your right, or call 
435-220-3393 and let's get you a place you can call home!
Picture of a spacious kitchen The countertops are a light wood and the cabinets are a stark white marble. The counters curve along 4 of the 5 walls. There is a small 4 person square table with a sleek white marble top and four chairs with light wooden legs. The tile is a light gray and they are rectangles. Behind the table the wall opens up and you can see a living room in the background. There are bright yellow and red and green tulips on the table. Located in Southern Utah
Picture of a white lined piece of paper with check boxes. These boxes are check marked off in pink. A pink highlighter is making a check on one of the boxes.
Picture of a silvery kitchen. The large kitchen table has 2 dark brown wooden chairs on either side and a large cream canvas chair at each end. The table is a silvery gray color. The floor is a light brown wood. The countertops behind the table are white and there is a brown and cream back splash. The light over the kitchen table is silver and cylinder.
Picture of a modern day kitchen in stgeorge utah. The countertops are light brown and the sink and cabinet are a dark black color. The backsplash behind the sink is white marble. There is a bowl of limes and lemons on the island counter.
Picture of an open floor plan of a staircase leading to a living room and entry room in a home in Hurricane utah. The floors are a light brown wood. There are 3 white sofa chairs and a glass coffee table that holds a tall orchid plant.

​SEE YOUR SOUTHERN UTAH DREAM HOME TODAY CALL: 435-220-3393

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