20% Down Payment is Outdated
Hello, everyone! Tyler Vass here again, and I’m excited to share some valuable insights with you on why a 20% down payment is outdated, and why you don’t wait to buy Real Estate
The worst advice for buying your first property is to wait exclusively for a 20% down payment. In an ideal world, this approach might be reasonable, but our reality falls short of perfection. Given the dynamic nature of the market, procrastinating only leads to falling further behind. It’s time to take action and jump right in.
#1 The Market is Always Moving
First and foremost, real estate markets are constantly evolving, marked by fluctuating prices, rising interest rates, and emerging opportunities. Consequently, deferring the purchase to save a larger down payment exposes you to the possibility of missing out on advantageous market conditions that could accelerate your acquisition of a property.
#2 Building Equity
Furthermore, buying a property, even with a smaller down payment, jumpstarts your equity building process. Moreover, real estate proves to be a robust long-term investment that thrives when you enter the market earlier, maximizing its growth potential. Conversely, waiting for a larger down payment only hampers the potential appreciation of your investment.
#3 Positioning for Future Success
Additionally, owning a property establishes a solid foothold in the real estate market, laying the groundwork for future success. Furthermore, as equity grows and experience accumulates, you’ll come to value the decision to enter the market early, especially when the time comes to sell your first property in 5-10 years.
#4 Don’t Expect Perfection, Embrace Experience
Your first property may not align with your dream home, and that’s perfectly acceptable. By entering the market early, you acquire valuable experience and discover what suits you best as a homeowner. Subsequently, armed with knowledge and equity, you have the flexibility to upgrade or transition to a different property.
So, why delay? Take that crucial first step, even without 20% savings. Enter the market now, start building equity, and lay the foundation for future success. Furthermore, real estate is a long-term game with ample opportunities for those who start early. Embrace the opportunity and embark on building your real estate empire!
If you’re ready to sell/ buy a home, reach out to me and my team of experts. We’re here to make your real estate dreams come true!
