If you’re a millennial, then you’re probably a little tired of hearing all the criticism towards your generation. Buying avocado toast instead of saving money, always texting instead of calling—they’re all pretty unfair generalizations.
Another common criticism of millennials? That they never buy homes. But actually, that couldn’t be further from the truth! In fact, millennials represent the largest portion of homebuyers in the market.
And according to millionaire David Bach, buying a home is one of the best decisions you can make for your future equity.
It’s All About Owning
Since you’re likely working with limited funds, your first home probably won’t be your dream home—but that’s okay. Getting your foot in the door and buying a home is the stepping stone to building wealth and equity, according to Bach. Even if your budget isn’t as high as you’d like, it’s best to buy as soon as you can!
In Bach’s opinion, you should start by crunching the numbers. You might think you can’t afford a home, but setting clear goals based on concrete numbers will help put things into a realistic perspective.
A good rule of thumb? Make sure your home payments don’t total more than 30% of your take-home pay.
David Bach’s Background
Why should you trust what Bach has to say? Well, his resume speaks for itself. A self-made millionaire, Bach has written nine consecutive New York Times bestsellers.
Not only that, but he’s also one of the only business authors to ever have four books on the New York Times, Wall Street Journal, BusinessWeek, and USA Today bestseller lists at the same time. His book The Automatic Millionaire even spent 31 weeks on the New York Times bestseller list!
Additionally, Bach is considered to be one of the foremost authorities on finance, appearing as a contributor on NBC’s Today Show, ABC, CBS, Fox, CNBC, CNN, Yahoo, The View, and PBS.
Why Now is a Great Time to Buy
If you’re all in on following Bach’s advice, then you should know: now is the perfect time to buy a home—and we’re not just saying that.
Mortgage rates are hitting near-record lows, and home prices are steadily increasing. Buying a home soon means saving on payments now and benefitting from higher prices in the future.
Ready to Get Started?
We understand that buying a home is a major decision. But with over 300 years of combined real estate experience, in-depth area knowledge, and a wide collection of resources, Linda Craft & Team REALTORS® are well-equipped to lead you to buying success.