You’ve got a stable job and you find yourself seriously considering buying your own home, feeling that you’ve overstayed enough under your parents’ roof. You’ve put aside some money, and have earmarked part of your savings for your dream house. But how prepared are you really to make that big leap of moving out of your parents’ house to be on your own?
Of course, if you’re fresh off from college and you’re just beginning to learn how the real world works, it’s not a bad idea to hold off for a while before seriously contemplating on the matter of a home purchase. It’s wise to keep saving up a portion of your money, little by little, to your future home. Use the time you have to keep yourself informed on how the process of buying a house works, and absorb every little detail that you can. In due time, that knowledge will serve you well. When the time comes and you’re ready to buy a house, you’ll pretty much know what to expect.
Typically, young adults buy their first homes when they are between 25 to 36 years old. Ideally, these age group would have held down steady jobs or are in the fast track pursuing their careers. Many of them would have savings set aside for buying a house. Around this time, they would be thinking (or have just started) to raise a family.
Investing for the future needs a lot of work and serious planning. The same goes for buying your own brand new house; as a young adult following such a dream, you might want to prepare yourself as early as now.