On December 19, 2011 Forbes announced 30 people under 30 years old, in twelve varying industries who are making a difference right now in their respective fields. They are the innovative young minds shaping the future of business in the world. Two Coldwell Banker agents, Danny Hertzberg (@DannyHertzberg), Coldwell Banker Residential Real Estate, Miami and Sandro Dazzan (@SandroD), Coldwell Banker Previews International, Malibu were selected as part of the 2011 Forbes 30 under 30.
With an average age of clientele ranging between 30-35, these young superstar agents equip young buyers and sellers with the tools, knowledge and resources they need to have success in their market.
Danny and Sandro offer their advice for what young people need to do when preparing to buy a house.
1) The first thing young buyers should do, even before touring prospective homes, is identify a comfortable price point. Younger buyers can get advice and direction from mortgage brokers who can assist them with getting pre approved. Understanding the full payment is crucial. Buyers should have a clear idea of all payments including taxes and bills, once they complete these steps they can be prepared to write an offer when they find the right place.
2) Another important factor that young buyers should consider is getting to know the community. Unlike renting and moving, buying a home is much more permanent which means the consequences are higher. Buyers should walk around the neighborhood on a weekend or at night after work, even talk to a neighbor to get comfortable with the setting of their potential home. The focus needs to go beyond just a “perfect home.”
3) Be open to family assistance. In this economy young buyers are often faced with strict requirements and feel that accepting help means giving up independence. In some cases they may be required to put down a down payment of 20-30%. Even if they are able to make this payment, they may not meet the credit requirements. Family assistance has become a much more common trend. Whether it is accepting money for a down payment or living home with parents to save money, it is important to be open to help.
4) Choose a Realtor you are comfortable with and trust. Finding and purchasing a first home is one of the most important decisions you will make. You will experience negotiations, laws and contracts that can seem overwhelming but with the right agent you will have the tools and resources you need to make the right decision.