Confessions of a First-Time Homebuyer – The Leap

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.

This is a story of a first-time homebuyer.

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!

Consumer Engagement Manager in the Marketing Department of Coldwell Banker Real Estate LLC. In his role he works on all national TV and online advertising initiatives, heads the brands’ internal video production as well as a slew of other projects. He’s held other roles within the Marketing Department ranging from Previews & Product Development to the day to day management of the coldwellbanker.com redesign. Besides being a marketer, Gustavo is a musician, writer, film & TV buff, avid sports fan, cereal aficionado, traveler, Tumblr and Tweeter.

16 Comments

  1. Confessions of a First-Time Homebuyer – Shopping Surprises | Coldwell Banker Blue Matter
    May 14, 2013

    […] has been a little over a month since my girlfriend and I took the leap and decided that NOW was the time for us to buy. With five plus years experience working for the […]

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    May 15, 2013

    […] mere two weeks after my girlfriend and I decided that we were going to go for it and buy a home, we had selected a fantastic Realtor, obtained a pre-approval and even submitted an offer on a […]

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  3. Elizabeth Castelda
    May 15, 2013

    Gustavo, thank you for your confessions – #1 in retrospect it is amazing just how much we spend on our “shelter” – glad you have bounced into the school of thought if we are going to spend it anyway, why now own it? Spread the love. #2 You are not alone – the ropes are always changing. That’s why Realtors who take the time to be trained buyer’s or seller’s agents are so essential! Thanks for your story.

    Reply
  4. Property Taxes and Its Impact on How Much Home You Can Buy | Coldwell Banker Blue Matter
    May 16, 2013

    […] my girlfriend and I took the “leap” and jumped right into searching for our first home to buy, I was impervious to the joys of […]

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  5. Gustavo Gonzalez
    May 16, 2013

    Thanks Elizabeth!

    Reply
  6. Cindy Spencley
    May 18, 2013

    Congratulations Gustavo!! Exciting times ahead!!

    Reply
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