Millennials are entering the market in droves. Here’s how a 20-something should prepare to buy a home.

We’ve really got to hand it to the millennial generation—they’re an educated, tech-savvy bunch who really know what they want. Lately we’ve been finding that many 20-somethings are deciding that they want to buy their first home and leave renting behind. Today I’m here to explain just how a millennial first-time homebuyer can purchase a home with as little stress as possible.

1. Decide if you’re really ready to commit. Buying a home is the largest purchase that you’ll likely ever make in your life. According to a National Association of Realtors study, the net worth of homeowners was more than 40 times that of the net worth of renters. Owning a home can change not only your life but the life of generations after you if you can commit to owning a home for at least five years.

2. Understand your finances. Lenders are going to consider every part of your financial profile, including your salary, your bills, your spending habits, and any debt you’ve incurred. Remember to get your finances in order before beginning the home buying process.

“According to a National Association of Realtors study, the net worth of homeowners is more than 40 times that of renters.”

3. Consider credit and savings. The better your credit score, the better the interest rate you’ll be offered. Banks know those who have better credit scores are less risky, so be mindful of paying off your bills and other payments in a timely manner.

4. Find a lender you can trust. Find a lender you can trust and be sure to get pre-approved, even before you browse on Zillow or Trulia. That way, you’ll know exactly what you can afford and have peace of mind about your purchase.

5. Understand the value of an agent. In Pennsylvania, you’re entitled to a buyer’s agent—someone who will look out for your best interest and answer your questions. We’ll guide you through this fairly complicated process, advise you on what price to pay, and help you negotiate the transaction so that you don’t have to worry about coming off with the worse end of a deal.

6. Interview more than one agent. Don’t just settle on working with a friend or family member who has their real estate license. Find someone who is not only experienced, but also someone you can trust to get the job done.

If you have any questions about buying your first home, all you need to do is reach out to us. We would be glad to have an open discussion about what you’ll need to do in order to make your homeownership goals a reality.