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Columbus & Central Ohio, United States
DeLena Ciamacco is a well-known, respected Top Producing Realtor in Central Ohio. Her myriad of accomplishments, recognition, and professional credentials as they relate to Real Estate, make her a perfect individual to provide insight to the masses on all aspects of Real Estate sales. Her creativity and honest approach to marketing Real Estate has enabled her to succeed in her career. DeLena’s philosophy is “An educated and well prepared Buyer or Seller is a smart Buyer or Seller”. Her desire is to inform the public, by pulling from her 20+ years of Real Estate sales & Marketing, what is necessary to get to a successful closing in these challenging times.

Monday, March 27, 2017

I'm in My 20's. Should I buy a House?

Right here in Columbus, many innovative and intelligent people in their 20's are choosing to call our bustling and diverse city home. These are the ones that we notice are incredibly tech-savvy, interested in having vast and exciting travels, and are perhaps staying single a bit longer than generations before them. If you are lodged in this age group and are eagerly thinking about homeownership, is 2017 a good year to do so? With many right here in Columbus perhaps there are some getting finished with a graduate program or internship this spring, and permanently calling our city home.

Even though millennials prefer a very low-key and low-maintenance lifestyle, there comes a time when the rent bills, not having a space to truly call your own, and not being able to make your own improvements to your living space may begin to wear on you. If you have made good choices up to this point, you may at least have a good credit score, which is the solid entry-point to the task of owning a home. Knowing exactly where you want to live is a very important beginning, and some millennials that have spent time in a much larger metropolis are becoming eager to get back to Columbus's busy hub of vitality, yet Midwestern vibe.

If you already do have established credit, making sure that you are always reviewing your credit report and attempting to keep your balances at 30 percent or below the limit are tasks that will boost your credit score. Paying your balances on time will prove to be a big help as well. You can't begin to shop seriously without knowing how much you can ultimately afford to spend, and once you are through the very necessary process of pre-approval, the real estate agent you are working with will be able to devote more of their valuable time to you. Many don't understand that driving around neighborhoods and looking for a place they want in the future is drastically different from being pre-approved and ready to make an offer: sitting in the position of the latter is when you are poised and ready to buy.

After you have made the decision to buy a home, the down payment is one of the major things you will want to save up for. One great recommendation that we have seen from many experts in the industry is regarding saving: after you have made the decision and know that buying a home is going to be taking place in the near future, steadily attempting to save 20 percent of your paycheck can be an enormous jump start to your cause. Making the choice to save up any large bonuses or tax refunds can also provide you a larger nest egg to attain a down payment with. One of the very typical elements that bog down a millennial can be student loans: if you can't reach the full 20% during this saving crunch time, any extra amount will still help immensely.

Researching multiple down-payment assistance programs is one step that many become so busy during the process they forget about. There are many thousands of dollars available for millennial buyers, and they all claim that the extra paperwork is worth it. The money attained can be used for a down payment, a principal, or both. When our firm is asked what we think that the biggest mistake millennials tend to make when purchasing a home is, our answer is buying a home that you know you can't afford. It is difficult not to do, because we all want extra space and amenities. If you think about your mortgage, taxes, fees, insurance, and maintenance in your budget, you will have a very reasonable work-up of what you'll incur for costs.

During 2017, the market is going to be undeniably red hot right here in Columbus. Many offers will be made, moving vans packed to the brim, and text alerts about new homes on the market will be beeping and vibrating phones all over the city. With a little foresight and positive financial direction, you may be packing up a truck to move yourself, and proudly doing so well before the birthday with a number “3” on the left candle hits! 

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