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Think You're Too Young to be Buying a Home? Think Again

The iServe Blog

It may seem like too much adulting all at once, but buying a home before the age of 30 may actually help you create wealth and live better later. While your friends are scrambling and switching rentals from one difficult landlord to another, you can enjoy the peace of mind that comes with owning your own home and not worrying about where you’ll have to move next.

Homeownership comes with more perks than having a consistent living space, though. By purchasing your home instead of renting, you’ll be able to fully customize your space, have all the pets you want, and maybe even get a nice tax break at the end of the year. Here are four great reasons to buy while you are young and reap the rewards of early homeownership.

No Nosey Landlord

Tired of the landlord doing surprise “inspections,” showing up to change a filter when they feel like it, or complaining when you have friends over? When you own a home, you are not beholden to anyone but the bank, and you set the house rules. Want to have friends over all night, let someone camp on your couch for a few weeks, or dog-sit for a friend? You have the freedom to do so when you own your home instead of rent.

Move When You Want, if You Want

One of the toughest things about renting is the lack of control you have over your life. The process often goes like this: You find a place you love, buy furniture to suit it and live there for a few months. Then your landlord decides they want to sell the place, hates your dog or raises the rent. You’re stuck looking for a new place again and coming up with a new security deposit and footing the bill for the move… again.

Buying a home means you live there as long as you like, and only sell and move when it is really your choice to do so. If you find you have to move every year whether you like it or not, homeownership puts you in control of the process and allows you to make your own decisions.

Not as Costly as You Think

Most people think buying a home is expensive and that you have to save a bundle of money to do so. If you remember your parents struggling to save to buy their house or talking about how much they had to put down, you may think homeownership is out of reach. In reality, lending standards have changed, and products like the FHA loan can allow you to put down as little as 3 percent of the cost of the home. If you are active military or a veteran, you may even be able to buy a home with nothing down, thanks to the VA mortgage loan program.

Pin That House

You’ve got a Pinterest board full of dreams – make them a reality with your own home. Your landlord won’t let you paint designs on the wall, create a floor from old barn wood or even make a cool fire pit – but if you own your own home, you decide what to change and what to keep.

Investing in homeownership at an early age can have both lifestyle and financial benefits and can help you make the most of your income. Learn more about buying a home and what you can afford by speaking to one of our loan officers or trying our easy-to-use online app. We’re here to make your homeownership dreams a reality at any age.