Have you thought about what goals you have as a first-time homeowner? Many people don’t think about their future goals when buying their first home. They simply think that now is the right time in their life to settle down, so they begin searching for a home. But homeownership is about more than just having a place to crash and store your stuff. It’s also about shaping your future, both in terms of your finances as well as your lifestyle.
If you plan to buy a house in 2022, it’s important to think about your goals before you begin shopping around. Below, we’ve listed some common goals shared by first-time buyers today.
Common Goals Among First-Time Homeowners Today
Right now, many Gen Zs are taking steps to prepare themselves for a satisfactory homeownership experience. Here are some common goals shared by these young individuals and prospective homeowners.
Homeownership Is a Top Priority
Many Gen Zs see homeownership as a top priority. Approximately 87% of these individuals claim that homeownership is one of their future goals. That’s a significantly larger percentage than the previous generation. Only 63% of millennials stated that they had the same aspiration.
Using Homeownership to Build Wealth
Gen Z individuals hold financial security in high regard. They work hard to earn a living and are good at saving money. Many Gen Z individuals see homeownership as an opportunity for building personal wealth, which is very important to their life goals.
Buying at a Young Age
Because many Gen Zs view homeownership as an important goal, they are more willing to buy a home at a younger age. These individuals view real estate as a good investment and are saving up right now to buy. Some are investing in the stock market and others are putting their money into traditional savings accounts. Either way, they’re gearing up to make a purchase. Experts state that nearly 29 million Gen Zs could be ready to buy a home by 2026.
Finding the Right Lender
Gen Zs grew up in the age of technology. They are used to everything being instant and on-demand. And when it comes to customer service, they aren’t willing to settle for anything less than the best. As first-time homeowners, they’re looking for the right lender who can provide excellent service in addition to satisfactory loan terms.
Do You Share Any of These Goals?
Perhaps you, too, have many of these goals; or maybe you haven’t thought about your goals as a first-time homeowner. Wherever you’re at, Mortgage Solutions Financial is here to guide you through the homebuying process. We’ll be with you every step of the way so that you can feel confident in your journey.
Ready to Apply?
We love working with first-time homeowners. Get in touch with Mortgage Solutions Financial today to begin the process.