A lot of millennials in their 20s dream of buying a home. But are you ready to look for your first piece of real estate in Sheridan, Wyoming? Here are some things to do and consider as you begin your hunt for your first home, sweet home.
First, choose an experienced Realtor. Then it’s time to commence the house hunt.
Early in your house hunting, review your finances and make sure you are ready for home ownership. But also take time to consider the other factors that might drive or influence your decision. Here are some things to ask yourself?
Do you want to live in Sheridan, Dayton or Ranchester for the long-term?
If you plan to live in Sheridan, WY, or surrounding areas for the long-term, buying a home for sale is a great move. Even veteran renters realize they have more freedom to choose décor and more privacy with a home they own. If you put down 20 percent on your home, you will have instant equity which makes it easier no matter what the housing market does in the near future.
Can you save up money for a down payment?
People who have the financial flexibility to put money aside each month for a down payment on a home often have enough to pay more than rent for a home. At the same time, rent is high in many neighborhoods. If you can afford rent, you can likely afford a mortgage. Whether you save up for 5 percent or 20 percent down, the key is having some financial wiggle room each month.
Will your commuting costs change?
People who work at home love owning a home with a spare bedroom for a dedicated home office. Before going on a house hunt, figure out how close your new home will be from your workplace or business. Calculate any changes in commuting costs if you work outside of the home. For those who work at home, living in a remote location in Wyoming is often a peaceful situation.
Other questions to ask include whether you have the time to devote to home maintenance and care. At Concept Z, Home and Property, we help you buy real estate in Sheridan, WY, as we connect you with homes for sale. For more information about buying a home in the Big Horns, please CONTACT US.
