September 2016

[Top 7 Home Buying Tips]: How To Protect Yourself & Determine If It’s The Right Time To Buy A Home

[Top 7 Home Buying Tips]: How To Protect Yourself & Determine If It’s The Right Time To Buy A Home

Michael Sema sits with One America News Network’s Liz Wheeler on the Tipping Point to discuss why home ownership rates are at its’ lowest in decades. 

Some of the topics he touched upon are

  • Why are the home ownership rates so low?
  • Why Millennials prefer renting?
  • How to determine if buying a home is right for you?

He talks about how millennials aren’t making the same mistake the previous generations did of trusting our Nation’s broken banking system to explain the home buying process.

We are still standing in the ’08 economic collapse ruins.  Even though there have been updates to the banking regulations, it hasn’t fixed or addressed the issue of extrinsic commission compensation, which has been scientifically proven to harm clients. 

Below are Michael’s top 7 home buying tips to protect, prepare and determine whether now is the right time to buy a home:

 Top 7 Home Buying Tips

1. Be wary of advice from commissioned loan officers – question if they have your best interest in mind
2. Interview 5 lenders and research reviews
3. Be realistic about what you should buy, not can buy
4. Purchase if you have confidence in your job security
5. Budget for the future (Weddings, kids, life) 
6. Have a min. of 3-6 months savings
7. Compare Renting vs. Buying benefits with our calculator

If you have questions, feel free to speak with one of our salaried Home Loan Advisors, who can help guide you through the entire home loan process.

Was this article helpful?

Related posts
Rent vs. buy? Our #1 Simple Comparison Calculator Will Help You Decide
August 2021
Rent vs. buy? Our #1 Simple Comparison Calculator Will Help You Decide

Should you rent vs. buy? The real estate market is hot, and interest rates are at historic lows. But you migh...

Buying a HomeFinancial Tips
Buying A House? Here’s How To Pick A Top Buyer’s Agent
May 2015
Buying A House? Here’s How To Pick A Top Buyer’s Agent

Buying a house can be a daunting task whether it’s your first time or if you’re a veteran.  You...

Buying a Home
Top 3 Mortgage Rate FAQs
September 2017
Top 3 Mortgage Rate FAQs

At Get A Rate, we are proud to offer education on mortgage-related topics because we believe that information...

Buying a HomeFinancial TipsRefinancing
Tim Waller’s The NJ Real Estate Show Interviews Get A Rate’s Nick Marenoski
December 2016
Tim Waller’s The NJ Real Estate Show Interviews Get A Rate’s Nick Marenoski

The NJ Real Estate Show, a weekly radio show hosted by real estate veteran Tim Waller, sat down with Get...

Buying a HomeFinancial Tips