Hey Millennial, Go Buy a House! 9 Reasons to Stop Paying Rent Today


Still unsure about whether or not you should buy a house? It's a big commitment, obviously, and not just from a financial standpoint. But the rewards generally far outweigh any potential downsides for those who take the plunge. Need more convincing? How about the fact that: 

You're already paying a mortgage
 
That money that comes out of your account every month? It's going right into someone else's account. Doesn't that make you just a little bit mad? 

To be clear, that someone else is making money off you
 
How about now, when you think about the fact that real estate continues to appreciate and you're not getting to appreciate that appreciation. "The national median existing single-family home price in the first quarter was $232,100, which is up 6.9 percent from the first quarter of 2016 ($217,200) and the fastest growth since the second quarter of 2015 (8.2 percent)," said the National Association of REALTORS (NAR). Aren't you tired of watching someone else make money while you sit in the place they own and try to figure out how to get ahead? 

You need to express yourself
 
Not being able to put a coat of paint on the walls or hang some wallpaper or enjoy the countertops, cabinets, or flooring you picked out because your landlord won't let you make any changes is not cool. Sure, there are some temporary solutions to make your place look better, but nothing compares to having the freedom to do what you want, when you want, with your space. 

It doesn't cost as much as you think it does
 
In fact, you may be paying more in rent right now than you would be for a house payment. A new NerdWallet.com analysis "showed that a majority of millennials would prefer owning to renting, but they appear to be postponing homeownership because of real and perceived difficulties in affording it." But, a report from Investor's Business Daily shows that, "Paying a mortgage is cheaper than renting in 42 states." Is yours one of them? 

Hardly anyone pays a 20 percent down payment anymore
 
Were you under the impression that you had to come up with a huge stack of cash to buy a house? Federal Housing Administration (FHA) loans are among the most popular options for all homebuyers, and for first-timers, they make a lot of sense. First, because the credit requirements are less stringent than other loans - in many cases, you can have as low as a 620 score. Also, you can qualify with as low as 3.5 percent down. On a $250,000 house, that's only $8,750. 

"For home buyers, FHA mortgages require a 3.5 percent down payment with the fewest ‘strings' attached," said The Mortgage Reports. "This makes the FHA mortgage one of the most lenient mortgage types available nationwide. There are very few credit restrictions with the FHA loan and the agency allows your 3.5% down payment to comes as a gift from a family member, employer, charitable organization or government home-buyer program." 

Rates are still near their lowest point ever
 
Yes, they've gone up a bit recently and are currently sitting a bit above four percent. But when you think about the fact that a decade ago they were over six percent and in the 1980s they were almost 18 percent, four percent looks a lot better, no? 

Dogs are cool
 
Living in an apartment that doesn't allow animals? That's pretty common. Trying to find a rental with a generous pet policy is near impossible. If you do find one, you can usually expect to pay a hefty pet deposit and monthly pet rent. 

Your student loan debt isn't as much of a big deal as you think
 
Yeah, it stinks to have to be saddled with that debt just because you decided you should expand your education, get a degree, and make yourself more hirable. But jut because it's a reality doesn't mean you can't improve your standing. 

If you have student debt, mortgage investor Fannie May's new rule changes "should make it easier for you to purchase a first home," said the Chicago Tribune. The rules include:
  • A change in how student loan affects debt-to-income (DTI) ratio calculations if you had payments reduced through an "income-based repayment" plan. "If your payments were originally supposed to be $500 a month but you've had them reduced to $100, only the $100 will be added to your monthly debts for DTI purposes," they said. "Previously lenders were required to factor in 1 percent of your student loan balance as your monthly payment on the student loan, even though you were actually paying a fraction of that. As a result, many borrowers' debt ratios were pushed beyond most lenders' underwriting limits." 
  • Debt ratios can also improve if you have other outstanding debts that are being paid by someone else. "Say, your parents pay your monthly credit card balances - these no longer will be included in your DTI computation, provided the payments have been made steadily for 12 months. This should improve the debt ratios of young buyers who are still getting a little help on their cash flows from Mom and Dad."
Everyone's doing it
 
Are your millennial friends starting to buy houses? They're part of a sweeping national trend. "Get ready to see more first-time home buyer clients. In the first quarter of 2017, the number of new-owner households was double the number of new-renter households," said the National Association of Realtors (NAR) in the most recent edition of their Realtor magazine.
There were about 854,000 "new-owner households" during the first three months of this year, which is more than double the 365,000 "new-renter households in that period, according to U.S. Census Bureau data. What's more, it's the first time in a decade that new buyers outpaced new renters."

First-time buyers also account for 42 percent of homebuyers this year, up dramatically from 31 percent in 2011, which was the lowest point recorded by Fannie Mae.

Written by Jaymi Naciri



Lee's Parke 5825 Deep Creek. Fredericksburg VA 22407 Coming Soon! By-12:45Team

5825 Deep Creek. Fredericksburg VA 22407 Exclusively Listed by VA, MD & DC Top Real Estate Agent Shawn Derrick - 12:45 Team 540-585-1245

Coming Soon! - You are the first to see this home. Lee's Parke, 4bed/3.5bath, Single Family Home, $435,000

To see more photos of this home email Shawn@1245team.com

Special incentives for buyer - call/text 540-585-1245 or email Shawn@1245team.com or  NateJohnson@1245team.com to check on buyer incentives and schedule your private showing before it goes live!

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5825 Deep Creek. Fredericksburg VA 22407



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5825 Deep Creek. Fredericksburg VA 22407

12:45 Team licensed in and serving Virginia, Maryland & DC Real Estate. Nationally ranked top real estate team.

Altoona 313 Altoona, Fredericksburg VA 22401 Coming Soon! By-12:45Team

313 Altoona, Fredericksburg VA 22401 Exclusively Listed by VA, MD & DC Top Real Estate Agent Shawn Derrick - 12:45 Team 540-585-1245

Coming Soon! - You are the first to see this home. Altoona, 4bed/2.5bath, Single Family, $299,900

To see more photos of this home email Shawn@1245team.com

Special incentives for buyer - call/text 540-585-1245 or email Shawn@1245team.com or NateJohnson@1245team.com to check on buyer incentives and schedule your private showing before it goes live!

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313 Altoona, Fredericksburg VA 22401


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313 Altoona, Fredericksburg VA 22401

12:45 Team licensed in and serving Virginia, Maryland & DC Real Estate. Nationally ranked top real estate team.

Churchill Town Sector 20561 Anndyke Way, Germantown, MD 20874 Coming Soon! By-12:45Team

20561 Anndyke Way, Germantown, MD 20874 Exclusively Listed by VA, MD & DC Top Real Estate Agent Nate Johnson - 12:45 Team 240-356-1245 

Coming Soon! - You are the first to see this home. Churchill Town Sector, 4bed/2.5bath, Single Family Home, $450,000

To see more photos of this home email natejohnson@1245team.com

Special incentives for buyer - call/text 240-356-1245 or email NateJohnson@1245team.com to check on buyer incentives and schedule your private showing before it goes live!

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20561 Anndyke Way, Germantown, MD 20874



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20561 Anndyke Way, Germantown, MD 20874

12:45 Team licensed in and serving Virginia, Maryland & DC Real Estate. Nationally ranked top real estate team.


Salem Fields 6203 Hot Spring Ln, Fredericksburg, VA 22407 Open House! By-12:45Team

Salem Fields- 6203 Hot Spring Ln, Fredericksburg, VA 22407  Exclusively Listed by VA, MD & DC Top Real Estate Agent Shawn Derrick - 12:45 Team 540-585-1245

Open House -  Just Stop By! 2/24, Saturday, 11-1, Salem Fields, 4bed/2.5bath, Single Family Home, $325,000

Stop by this open house to receive a free gift valued at over $500!

Special incentives for buyer - call/text  540-585-1245 or email Shawn@1245team.com  or NateJohnson@1245team.com to check on buyer incentives and schedule your private showing!


To see more photos of the property here.

6203 Hot Spring Ln, Fredericksburg, VA 22407

Excellent Updates & Design Touches! Fresh paint & carpet give this home a NEW feeling. Gorgeous kitchen features on-trend painted cabinets & island, new appliances, dining space, & is next to adjoining family room. Plus there's formal dining & living, and a finished basement too! Vaulted Master bedroom w/nice attached bath. Outside enjoy a covered front porch, deck, brick patio, fenced yard & play-set!


Buy this home with us and we will sell yours for free!  Contact Shawn@1245team.com for more details.








6203 Hot Spring Ln, Fredericksburg, VA 22407

12:45 Team licensed in and serving Virginia, Maryland & DC Real Estate. Nationally ranked real estate agent.  




Willmount Heights 10503 Gordon Rd, Spotsylvania, VA 22553 Just Listed! By-12:45team

10503 Gordon Rd, Spotsylvania, VA 22553 - Exclusively Listed by VA, MD & DC Top Real Estate Agent Shawn Derrick - 12:45 Team 540-585-1245

Just Listed!  You have to see this home in person.  Willmount Heights, 4bed/ 3.5bath, Single Family Home, $339,900MLS #SP10156962


Special incentives for buyer - call/text 540-585-1245or email Shawn@1245team.com or NateJohnson@1245team.com to check on buyer incentives and schedule your private showing!

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10503 Gordon Rd, Spotsylvania, VA 22553

Looking to make memories in your new home? Look no more! Sit on the covered front porch & enjoy the view of the lake or hang out back in the pool! Inside you'll find a clean, well cared for home with charm. Kitchen has white cabinets, stainless steel appliances & is open to Family Room. Master walk-in closet w/amazing built-ins! Large lot w/ 12'x24' shed w/electricity & insulation. Lots to love!




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10503 Gordon Rd, Spotsylvania, VA 22553

12:45 Team licensed in and serving Virginia, Maryland & DC Real Estate. Nationally ranked top real estate team.

Potomac Club II 2275 Merseyside Dr #23, Woodbridge, VA 22191 Just Listed! By-12:45Team

2275 Merseyside Dr #23, Woodbridge, VA 22191 Exclusively Listed by VA, MD & DC Top Real Estate Agent Shawn Derrick - 12:45 Team 540-585-1245

Just Listed!  You have to see this home in person.  Potomac Club II, 3bed/ 2.5bath, Townhouse, $359,000MLS #PW10156901


Special incentives for buyer - call/text 540-585-1245, or email Shawn@1245team.com NateJohnson@1245team.com to check on buyer incentives and schedule your private showing!

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2275 Merseyside Dr #23, Woodbridge, VA 22191

WOW, this townhouse in an AMAZING location is available! Shopping & dining galore, easy to I-95 & VRE! Features 3-levels of living, fresh paint, cozy living room w/fireplace, wood floors, large deck, & double stall garage. Gourmet Kitchen boasts double ovens, granite counters, pantry, & huge island. Potomac Club Gated Community has TONS of amenities: 3 Pools, Fitness Center, Rock Wall, & more!



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Seller Says!
  This is suburban living and a Washington, DC bedroom community. The area (Route 1, Opitz Boulevard, Prince William Parkway) has many businesses. There are good restaurants in just about every price range. The public library is convenient and so is Potomac Mills Mall. It is 30 miles from Washington DC. I-95 is convenient if one wishes to drive north or south. Additionally, the Virginia Railway Express (commuter line) Rippon station is a 10 minute drive from the house. It was my preferred mode to travel to work in the district. The medical care network is good and the Sentara Hospital is less than a mile from the house. 
             We like to shop in the area, dine out, and see a movie. All are very convenient. If you are inclined there are several Civil War battlefields in the immediate area.  Favorite restaurants nearby include, Brixx (wood oven pizza), Firebirds Grill, Not Your Average Joe’s, and P.F. Chang. There are also two Brazilian Barbecue places (The Knife and the Grill), Carrabba’s Italian Restaurant, The Outback Steakhouse, several Vietnamese restaurants (Saigon 75 and Chopsitcks), 2 Korean restaurants, 2 Chinese buffets (Hibachi Grill and Grand Chinese), Bahama Breeze, and Red Robin among others. We go out quite a bit. There are also several places that deliver through Grub Hub. 
            We love our neighborhood.  It is a gated community. There are large common areas where children can play and where people exercise themselves and their pets. The clubhouse has a good fitness room with free weights, various weight machines, and treadmills. There is a person on staff who can show you how to use the equipment. There are 3 pools – 1 indoor, 2 outdoor. There are fitness classes available, paid for by the HOA fee. The HOA also sponsors seasonal parties for the residents during the year. The shopping is convenient. There are clothing stores, restaurants, and a large grocery store in the Stonebridge Shopping Center (across the street). The Potomac Mills Mall is convenient, too, with its large variety of restaurants and stores, including a Costco warehouse and an AMC multiplex.
         Our home was the nicest place we had seen and it fit our needs. An additional selling point was the wood floor in the kitchen. There is also a 2-car garage. It was a good price and is in a quiet neighborhood – it is also a gated community. We live in a townhouse condominium, so no outside maintenance responsibilities which is wonderful.   We like the large kitchen. It has a gas cook-top, a French door refrigerator, and double electric ovens. It has a good amount of cabinet space and the appliances blend well with the granite counter tops. The living room (on the 2nd level) is a large space. The master bedroom is a good size, while the 2nd bedroom on the upper level is also quite large. I use the large room on the lower level (with French doors) as a study but it could be used as one wishes. We also like the number of bathrooms (2.5 – one attached to the master suite, one on the 3rd level and a half-bath on the 2nd level, convenient for guests). 

            While living here we have made additional upgrades to the home. We put in under-counter lights and a back splash in the kitchen. We also put in wood floors in the living room and the stair cases. We had the 2nd bedroom painted along with the kitchen, the study, and the half bath on the 2nd level and the bathroom on the 3rd level. 

2275 Merseyside Dr #23, Woodbridge, VA 22191

12:45 Team licensed in and serving Virginia, Maryland & DC Real Estate. Nationally ranked top real estate team.

Hampton Oaks 110 Bentley Ct, Stafford VA 22554 Coming Soon! By-12:45Team

110 Bentley Ct, Stafford VA 22554 Exclusively Listed by VA, MD & DC Top Real Estate Agent Shawn Derrick - 12:45 Team 540-585-1245

Coming Soon! - You are the first to see this home. Hampton Oaks, 4bed/3.5bath, Townhouse, $249,000

To see more photos of this home email Shawn@1245team.com

Special incentives for buyer - call/text 540-585-1245, or email Shawn@1245team.com or NateJohnson@1245team.com to check on buyer incentives and schedule your private showing before it goes live!

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110 Bentley Ct, Stafford VA 22554


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110 Bentley Ct, Stafford VA 22554

12:45 Team licensed in and serving Virginia, Maryland & DC Real Estate. Nationally ranked top real estate team.


Spring Knoll 300 Barrows Ct, Fredericksburg, VA 22406 Coming Soon! 12:45Team

300 Barrows Ct, Fredericksburg, VA 22406 Exclusively Listed by VA, MD & DC Top Real Estate Agent Shawn Derrick - 12:45 Team 540-585-1245

Coming Soon! - You are the first to see this home. Spring Knoll, 3bed/2F/2Hbath, Townhouse, $229,000

To see more photos of this home email Shawn@1245team.com

Special incentives for buyer - call/text 540-585-1245 or email Shawn@1245team.com or  NateJohnson@1245team.com to check on buyer incentives and schedule your private showing before it goes live!

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300 Barrows Ct, Fredericksburg, VA 22406


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300 Barrows Ct, Fredericksburg, VA 22406

12:45 Team licensed in and serving Virginia, Maryland & DC Real Estate. Nationally ranked top real estate team.

Cameron Station 5103 Gardner Dr, Alexandria, VA 22304 Coming Soon! By-12:45Team

5103 Gardner Dr, Alexandria, VA 22304 Exclusively Listed by VA, MD & DC Top Real Estate Agent Nate Johnson - 12:45 Team 571-494-1245

Coming Soon! - You are the first to see this home. Cameron Station, 3bed/3.5bath, Townhome, $650,000

To see more photos of this home email natejohnson@1245team.com

Special incentives for buyer - call/text 571-494-1245 or email NateJohnson@1245team.com to check on buyer incentives and schedule your private showing before it goes live!

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5103 Gardner Dr, Alexandria, VA 22304



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5103 Gardner Dr, Alexandria, VA 22304

12:45 Team licensed in and serving Virginia, Maryland & DC Real Estate. Nationally ranked top real estate team.

Penderbrook 12012 Golf Ridge Court, #102, Fairfax, VA 22033 Just Listed! By-12:45Team

12012 Golf Ridge Court, #102, Fairfax, VA 22033 - Exclusively Listed by VA, MD & DC Top Real Estate Agent Nate Johnson - 12:45 Team 571-494-1245

Just Listed!  You have to see this home in person.  Penderbrook, 2bed/ 2bath, Condo, $260,000MLS #FX10151618


Special incentives for buyer - call/text 571-494-1245 or email NateJohnson@1245team.com to check on buyer incentives and schedule your private showing!

To see more photos of the property click here.   

12012 Golf Ridge Court, #102, Fairfax, VA 22033

Immaculate condo, looks like a model home! Premium laminate wood floors throughout feel open & inviting. Kitchen boasts granite & stainless steel. Recent improvements: hvac, hot water heater, washer/dryer, & updated master bath! Ground level unit w/patio that faces golf course. Tons of Penderbrook Heights amenities & convenient to Dulles, Fair Oaks Mall, 66, & more. This is a home to be proud of!



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12012 Golf Ridge Court, #102, Fairfax, VA 22033

12:45 Team licensed in and serving Virginia, Maryland & DC Real Estate. Nationally ranked top real estate team.

Residence at Brambleton 22682 Verde Gate Terr #5C, Ashburn, VA 20148 Open House! By-12:45Team

Residence at Brambleton- 22682 Verde Gate Terr #5C, Ashburn, VA 20148 Exclusively Listed by VA, MD & DC Top Real Estate Agent Nate Johnson - 12:45 Team 571-494-1245

Open House -  Just Stop By! 2/10 & 2/11, Saturday & Sunday, 2-4, Residence at Brambleton, 3bed/2.5bath, Condo, $315,000

Stop by this open house to receive a free gift valued at over $500!

Special incentives for buyer - call/text 571-494-1245 or email NateJohnson@1245team.com to check on buyer incentives and schedule your private showing!


To see more photos of the property here

22682 Verde Gate Terr #5C, Ashburn, VA 20148

Welcoming living & dining area flow to a beautiful kitchen on the 1st level. The bedrooms & laundry are both upstairs, very handy. Master bedroom offers french doors to a balcony. You'll find a neutral color scheme & fresh paint throughout. 1 car garage is also a plus! Brambleton makes the decision easy: tons of amenities & convenient location to golf, movies, dining, airport, & more! Move right in...


Buy this home with us and we will sell yours for free!  Contact Natejohnson@1245team.com for more details.











22682 Verde Gate Terr #5C, Ashburn, VA 20148

12:45 Team licensed in and serving Virginia, Maryland & DC Real Estate. Nationally ranked real estate agent.  



Penderbrook 12012 Golf Ridge Court, #102, Fairfax, VA 22033 Coming Soon! By-12:45Team

12012 Golf Ridge Court, #102, Fairfax, VA 22033 Exclusively Listed by VA, MD & DC Top Real Estate Agent Nate Johnson - 12:45 Team 571-494-1245

Coming Soon! - You are the first to see this home. Penderbrook, 2bed/2bath, Condo, $260,000

To see more photos of this home email natejohnson@1245team.com

Special incentives for buyer - call/text 571-494-1245 or email NateJohnson@1245team.com to check on buyer incentives and schedule your private showing before it goes live!

SPECIAL - Want to have the inside scoop on all coming soon properties before anyone else?  We have the list free for you.  Click here for Coming Soon Properties

12012 Golf Ridge Court, #102, Fairfax, VA 22033


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Need to sell your home? Contact us for special seller incentives and buy this home with us and we will sell yours for free!  Contact Natejohnson@1245team.com for more details.



12012 Golf Ridge Court, #102, Fairfax, VA 22033

12:45 Team licensed in and serving Virginia, Maryland & DC Real Estate. Nationally ranked top real estate team.