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First Time Homebuying Myths

Think buying a home is not in your future? Think again. We'll debunk the myths around buying a home, and show you affordable options.

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  • 09.02.2014

First

Author: Dragas Team


The thought of saving for your next home may  be more intimidating than the actual act of doing so. Many potential homebuyers have let the thought of not having enough money or credit keep them from taking crucial steps toward homeownership. Millennials epitomize this trend, a recent Nomura study concluded that Millennials are the most underrepresented homebuying group despite the fact that many of them have qualifying credit scores and savings. Thoughts such as: “There’s no way I’ll have enough money for a down payment” or “The likelihood of my credit being good enough to buy a house is slim to none!”  often keep would-be buyers from even trying. Instead they choose the most attractive alternative: renting. Recently Zillow reported that on average Renters tend to pay about 29.5% of their income to rent, while Homeowners can expect to pay only 15.3%. In the long run, renting will give you a m,uch smaller return on investment. Our advice? Give it a shot. Contact Dragas Mortgage Company, and see if you qualify. Take the first step in owning your Dragas home, head over to dragas.com to view our new condominium communities. With the variations of location and floor plans you are sure to find a neighborhood that suits your lifestyle. We’ve made the homebuying process a bit simpler by streamlining our services to assist you every step of the way. Go ahead and fill out your prequalification application online today.