OK, so you know that buying a home is a smart move, that you’re throwing your money away on rent, that the DC area is a great place to make an investment, etc., But still, it just seems so complicated and so scary to take what seems like such a big, permanent step! Well, the great news is that it really isn’t that complicated (if you have the right realtor to guide you) and it’s very unlikely to be a permanent decision (unless you keep your first home as a revenue-generating rental property when you purchase your second home!).
The D.C. Metro area has some of the coolest places for millennials to live in the entire country and each is intriguingly different from the other. What they have in common,however, is their ethnic diversity, great restaurants and retail, vibrant nightlife and nearby Metro stops. And they’re the ideal neighborhoods in which to purchase a home because the property values will either increase at best, or remain stable at worst.
Americans love their pets, and now it’s showing in their home-buying decisions too. This is especially true for American millennials, 42% of whom consider their pet’s needs first (even before their spouse’s or children’s) when buying/renting a home. This trend is not limited to millennials; even baby boomers who are looking to downsize after their children move out, are looking for pet-friendly homes/neighborhoods where their animal companions can live comfortably.
The D.C. Metro area is home to many young professionals who flock here for its thriving job market, stable property values, cultural offerings and diverse community. In fact, D.C. is ranked second among cities best suited for millennials in the U.S, according to a recent survey by American University.
It’s natural for first-time homebuyers to feel overwhelmed by all the unfamiliar realty jargon and complicated procedures they encounter when home shopping. Most of these challenges can be easily overcome, but there are some mistakes, that if made, can result in deep disappointment and financial problems.