I have a confession to make. I work for Coldwell Banker Real Estate and I don’t own a home…yet.
It’s hard to believe but it’s already been 6 years since I officially entered the “workforce”. While I shared in the American belief in the power and true value of homeownership, I just so happened to be entering the “real world” at a time when global economies were all but crumbling and on the verge of collapse. As a 23 year old navigating the “real world” for the first time, I decided to play it safe and rent while I saved money and became acclimated to living on my own and building my career.
Well that was then and this is now
As with most change, it happens gradually over time as opposed to overnight. So I’m not quite sure when it happened, but I recently realized that I’m ready. I want to own my own home.
Here are the top 3 reasons why I feel like now is the time for me to buy a home:
- In speaking to my mortgage advisor and agent, I quickly realized that I could quite possibly be paying LESS for my mortgage than I do for rent.
- I’ve spent well over $70K in rent over the last four years and will never see any return on that money. Not a penny. Conversely, paying a mortgage is like setting money aside into a savings account
- Renting feels like an extended expensive hotel stay. I want to feel settled and place down real roots in a home and move forward into the next phase of my life with my girlfriend.
Now here comes confession number 2. I’ve worked for one of the preeminent real estate brands on the planet for the last few years but oddly found myself feeling lost and not sure of what really went into the process of buying a home.
If I had to give one word of advice to anybody who has come to the “I want own my own home now” epiphany for the first time like I recently have, it would be to contact and work with a licensed real estate professional immediately. Promptly after my girlfriend and I realized that we were ready and committed to buying a home now, we reached out to Coldwell Banker Residential Brokerage agent Jill Biggs on coldwellbanker.com She called us back quickly and the next day we were in her office in Hoboken meeting.
And since I’m naturally a nervous person, her simple explanation of how the homebuying process works removed all my worries and reservations. It’s actually not all that complicated after all! Historically, 40% of home buyers are first-timers like me ,so hopefully the insights and learnings I come across in the coming weeks will prove helpful.
Wish us luck!