Video by Trevor Vaubel
Whether you’re renting or living with your family, if your name isn’t on the deed, you’re living by someone else’s rules. It’s easy to accept anything, for a time: who cares if the landlord won’t let you paint a wall black or if your parents won’t let you brew kombucha?
Eventually, however, you may start dreaming of making your own rules.
When your browsing habits flip from Reddit subthreads to realty listings then it’s time to get real: you’re thinking about buying your own home.
Growing up and moving out
In an interesting twist, today’s young adults are skipping over the starter home trend more common in their parent’s generation (but it’s got so much character!) and going straight from living at home to buying their own dream home. And they’re doing it in droves: first-time home buyers hit a 17-year high earlier this year, making up 38 percent of all U.S. single-family home purchases.
What should you know before you jump in?
Rachel Hedeen, a real estate agent with Coldwell Banker Burnet, offers some advice in the video above about:
- home loans
- finding an agent
- closing costs
- earnest money
- home warranties