I think Millennials and Gen Z are disillusioned with the real estate market and are giving up on it too early or are at least putting off purchasing a house until much later. I want to encourage my generation and people younger not to lose hope. You can find good opportunities, you can find good deals, and you can negotiate those deals as well. We can purchase properties and get a reasonable price in the process, so we should consider some nontraditional tips. Firstly, let’s start with talking to people. It could start with a family member, a member of your community, or even someone you’ve spoken to online and built rapport with who wants to sell their home, but it’s in poor condition. If you’re looking for a deal and you’re looking for an opportunity, then don’t go after what everyone is going after, a move-in-ready home. Be willing to buy a property that needs a little bit of work, not the perfect one, because people shy away from a challenge. Secondly, look in developing neighborhoods, it may not be the best neighborhood yet, but you see that businesses are coming here, people are moving here, there’s opportunity there, and that’s where we can get our chance. That’s where we can find a house to put in an offer. Finally, sometimes it means that parents are helping us put down the down payment as well, and that’s perfectly okay. Put the pride to the side. If someone’s willing to help you and you’re able to put in as well, take that help. Be open to receiving support, and when you’re able to help your family in the future, you can pay that forward.
Let’s not lose hope. Let’s not say that we’ll never be able to buy a house or that we must move to a different state. Not the case. We can buy a good home for ourselves and our families; we just need to be willing to do things a little differently.
Contributor: Michael Pomes
Two Perspectives: Working With Family
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