Joe O’Connell, a one-time construction worker, first bought his house after he decided that paying for rent was simply not worth it anymore. He wanted something better for himself with the amount that he was spending per month.
O’Connell wanted to take the do-it-yourself approach with his home and with a background in construction, he felt confident that he could transform his property into something special.
After finding a willing seller, with his first two offers being rejected, O’Connell settled on a 1,500-square-foot house that was flipped by a previous investor. He knew that when he bought his house, he would face the task of dealing with more work than the average home would need. By doing so, O’Connell would get the chance to recreate the entire house to his liking.
At only 25 years of age, Joe O’Connell was able to purchase his first home with relative ease. This isn’t an impossible feat if you are both mentally and physically ready to take on the challenges of the home buying process – not to mention financially able.
Prior to deciding on a home, you’ll want to make sure that you beef up your savings as well as checking your credit report for any errors.
A high credit score is beneficial to you as a home buyer for several reasons. One being that there will be lower interest rates offered to you – you’ll be paying thousands less over the life of the loan. Another is that you’ll have more options when it comes to lenders. Because you’re so trustworthy and maintain a consistent payment pattern, lenders will be more inclined to work with you.
Bio: Kuba Jewgieniew is the founder of Realty ONE Group, a real estate firm brokerage with over 60+ offices in California, Nevada, and Arizona.