Young Homeowners?!

I bought my first condo when I was 19. I would say that it is what started my career and peeked my interest. I would also add that it turned me into investing: flips and rental investments. If I had the opportunity I would do it all over again and I would recommend this to my kids and grandkids. 

There is something powerful and life changing that happens when you own property. No matter the type. First and foremost you are growing equity throughout time; second you are learning the abc's of real estate, third you open up many opportunities to grow your wealth. 

Today's prices compared to over 20 years ago can be ridiculous but you can start small, with land if your state's housing prices are expensive or you can buy elsewhere. There are also many first time home buyer programs that you may qualify in order to buy. Condos, townhomes and coops are always a great way to start buying.  Another challenge you may have when young is credit. You may not have enough or any. There are ways you can build credit or get a co-signer on your loan. You can obtain a secured credit card or you can get local store credit. Places like Fingerhut offer credit for beginners or those looking to re-establish credit. 

So if you ask me would I buy now or later when I settle down? Buy now; no discrimination on age. 

Hudson Valley