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7 Mistakes Millennials Make When Purchasing A Home

7 Mistakes Millennials Make When Purchasing A Home

Millennials – they’re the generation between 18 and 35; the new young professionals; the recent graduates, and they’re also coming into the housing market in droves. Usually, they’re also first-time homebuyers, which means that they have the potential to make mistakes in the home-purchasing process.

Here are the top seven mistakes millennials make when they purchase a new home. Whether you consider yourself part of the generation or you’re just looking to ensure your home search goes as smoothly as possible, these tips should help any potential homebuyer.

Mistake #1: Not Getting Pre-Approved

Buying a home should never start with searching for listings online. If you’re serious about buying, start by meeting with a lender. Although that seems backwards to many first-time homebuyers (“Why would I talk to someone about getting money for a home I haven’t found yet?!”) it’s going to help you in the long run.

When you get pre-approved for a mortgage, it means you have met with a lender and showed them your credit report, debt, income, and assets in order to provide a picture of your finances. With that information, they will draft a pre-approval letter – something that tells you how much money you’re potentially qualified for, but isn’t a guarantee of money. Realtors look for a pre-approval letter when working with you because it shows you’ve done your homework and you know your price range. Sellers expect a pre-approval letter with every offer because they know there’s a better chance of you actually getting the mortgage to buy the home.

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Mistake #2: Not Hiring A Realtor

In the age where you can buy virtually anything online, many millennials believe that they can purchase a home through an online listing service. They look at Zillow, Redfin, and Trulia, find the perfect home, and contact the listing agent.

Let’s stop there. This isn’t to say that looking online isn’t a great idea to see what kinds of homes are in your price range. In fact, it’s an excellent way to be prepared to look for the type of home that’s in your budget, including size and location. However, if you think you can do all of your home shopping by yourself through the internet, think again.

When shopping for homes on online listing services, you’re not really getting the full picture or price. The home might have smells, sounds, or sights that you’re not seeing while looking at the photos on the listing. Not only that, if you’re interested in a home and reach out to the listing agent, they’re not going to have your best interests at heart. They’re legally bound to the seller, so you may not get the best deal. That’s why it’s extremely important to first talk to a mortgage lender to see how much you could afford, and then work with a realtor who can help you avoid paying extravagant amounts of money and walk you through different options of homes that are within your price range.

Mistake #3: Buying More House Than You Can Afford

While looking online for a home, another mistake millennials make is looking at the estimated mortgage payment and thinking, “Hey, I can afford that!”

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Many times, the monthly mortgage price on the listing doesn’t account for insurance, taxes, HOA fees, Personal Mortgage Insurance if your down payment is less than 20%, or other utilities and maintenance costs. Purchasing a home costs much more than the dollar amount listed there – it’s expensive and if you end up buying more house than you can afford, you risk becoming “house poor” quickly. That means you pay more money monthly for a house than you can reasonably afford.

Many mortgage lenders will pre-approve you for a mortgage that’s much more than you actually could afford on a month-to-month basis. You can’t rely on them to provide you with an accurate amount of money that you’ll be spending each month on your home. You have to do that on your own. Look at how much money you spend on food and transportation. Then, look at how much you’d be spending on insurance, taxes, closing costs, and maintenance. Add a little bit for savings, just in case, and you have a better picture of your budget each month. If you can afford everything that goes into a home, you’re set to buy. If not, you may need to start looking at homes in a lower price range.

Mistake #4: Not Shopping For A Mortgage

Once you find a home, make an offer, and start the closing process, you need to shop around for a mortgage. Many first-time homebuyers assume that they have to go with the lender that provided them their pre-approval letter. Not so! You can shop around for the best interest rates and terms that fit with you and your budget. In fact, not shopping around for a mortgage can end up costing you tens of thousands of dollars in interest.

Mistake #5: Not Attending A Home Inspection

This is one of the biggest mistakes you can make when purchasing a home. If there’s one thing you take away from this article, let it be this: attend the home inspection. Do not let your realtor go without you to look over the inspection. Do not send your mother or brother or second cousin on the home inspection. Take off work and walk through the home with the home inspector. In fact, make sure you’re involved with the entire process, including hiring your own personally vetted inspector (or two or three, depending on the first report), walking through the home with the inspector, asking them questions about the state of the home, and finally reading the inspection report.

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Why is this such a sticking point? A home’s value isn’t just about the property it sits on – it’s also about the state of the appliances, systems, and foundation that makes up the home. If the roof is failing, you’re going to end up spending major amounts of money on it sooner rather than later. If the furnace has cracks in the heat exchanger, you’re going to have to shell out a lot of money to replace that. You need to be informed as to just what you’re getting yourself into when you purchase a home; what costs you can expect in the future and what parts of the home need to be repaired or replaced by the seller (or the price reduced) before you go through with a sale.

As a side-note, if your realtor tells you a home warranty will cover most of the problems in the home inspection, they are misinformed. Most home warranty companies will not repair or replace broken-down systems that were noted as failing in a home inspection. If there’s something wrong, get it fixed before you buy!

Mistake #6: Not Getting A Home Warranty

That being said, you’re not going to ever find a home in absolute perfect condition, especially if it’s not a newly constructed house. Things wear out and break down. Make sure to ask for a home warranty during closing. Although it isn’t going to cover everything, it can provide major savings for new homeowners when something fails from normal wear and tear, and it will. Some home warranties cover for lack of maintenance, rust, corrosion or sediment in water heaters – all things that might not be found within a home inspection but can cause systems and appliances to fail. This is when you want a home warranty – you don’t have to shell out thousands of dollars to replace something when the seller didn’t maintain the system properly. It’s a nice fail-safe.

Mistake #7: Not Factoring In Resale Value

Finally, when you purchase a home, make sure to factor in resale value. Unless you are a millennial who has a lot more money than the rest and can afford to buy your dream home in the first go around, the chances are that you’ll be selling it sooner rather than later. Find something that can build equity (you can get new carpeting, hardwood floors, or granite countertops) and that will also appreciate over time (the neighborhood is up and coming, new shops and restaurants are popping up around it). Ensure that when you buy, the price will go up over time, so you can sell it for a higher profit than the amount you purchased.

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There you have it, seven mistakes you can now combat as you purchase a home for the first time. Use and share these tips to ensure your home-buying experience goes as smoothly as possible!

Featured photo credit: lenetstan/Shutterstock via shutterstock.com

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Last Updated on June 24, 2019

15 Easy-to-Make Crockpot Freezer Meals for Busy Nights

15 Easy-to-Make Crockpot Freezer Meals for Busy Nights

You work all day, and you come home exhausted and hungry. Naturally, the last thing you want to do is to spend hours in the kitchen cooking dinner. If you love cooking, but your busy schedule doesn’t allow you to cook every night, you can simplify your life by making crockpot freezer meals. These meals will allow you to still eat homemade, healthy, filling dinners without the countless hours and enormous effort spent in the kitchen. You can store the simple ingredients in freezer bags and put them in the crockpot when it is time for dinner, or you can cook over the weekend and stock your freezer with delicious ready meals that will make your life easier. Here are 15 easy-to-make recipes to make delicious dinners for busy nights!

1. Cheesy Tortellini With Ground Beef

Cheesy tortellini with ground beef

    This is a perfect crockpot freezer meal that even your kids will love. The best thing of all is that it’s incredibly easy to prepare. All you have to do is crumble some ground beef and combine all the recipe’s ingredients in your crockpot. The other ingredients needed for this super delicious meal include tomatoes, herbs, and onions. Tortellini is one of the most commonly ordered meals when eating out, but this way you will get to eat a homemade, healthier version of the popular dish. Find the recipe here.

    2. Cranberry Pork Roast

    Cranberry pork roast

      Cranberry pork roast is a gluten-free meal that everyone can make, regardless of their culinary skills. The dish requires only these few ingredients: onion, cranberry sauce, bone-in pork shoulder, and honey. To prepare this mouthwatering dish, simply combine all the ingredients together in the crockpot and let them cook. If you don’t like pork or if you prefer not to eat it, you can easily use beef as a substitute without impacting the flavor. Click here to see the recipe.

      3. Greens and Beans

      Greens and beans

        Greens and beans are the ideal dishes if you want a dish that is both delicious and nutrient-dense. Combine vegetable broth with beans, garlic, kale, escalore, and Parmesan, and let cook. The result will be a dish with a soup-like consistency that will fill you up and provide you with a lot of vitamins and minerals.

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        As a bonus, if you or someone else in your family suffer from rheumatoid arthritis or some other common types of arthritis, greens and beans can reduce the inflammation. That’s because kale and other veggies rich in Vitamin K are anti-inflammatory and are known for relieving arthritis. Click here and start cooking!

        4. Chicken Curry

        Chicken curry

          That is yet another gluten-free recipe that you’ll love to make. Chicken curry requires basic ingredients such as tomato paste, coconut milk, honey, onions, and garlic, in addition to chicken and curry of course.The result is a sweet and spicy dish where different flavors are perfectly balanced. Find the recipe here.

          5. Honey Sesame Chicken

          Honey sesame chicken

            Honey sesame chicken is a simple and effortless dish that delivers an amazing taste. To make this wonderful recipe, you have to combine all the ingredients except for the sesame seeds and green onions and let them cook. Use the sesame seeds and green onions for garnish when serving. Click here for the full recipe.

            6. Mushroom Spinach Stroganoff

            Mushroom spinach stroganoff

              In this warm weather, many people opt to eat lighter food that is easy on the stomach. Mushroom spinach stroganoff fits the bill being a vegetable version of a famous comfort food that you and your family will love. The dish requires simple ingredients such as sour cream, onion, garlic, ketchup, vegetables, and mushrooms. This dish is very simple to make, and thanks to your crockpot, you won’t have much work to do. Find the recipe here.

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              7. Stuffed Peppers

              Stuffed peppers

                If you’re looking for a healthy, simple, and delicious recipe, you’ll love this one! These crockpot stuffed peppers are easy to make, and they require only a few ingredients such as ground turkey or beef, onion, garlic, bell peppers, and pasta sauce. This meal will remind you of grandma’s kitchen. You can find the recipe here.

                8. Cilantro and Lime Chicken

                Cilantro and lime chicken

                  Summer is the perfect season to experiment with more exotic flavors, and this meal can help you do just that. To make cilantro and lime chicken, you will need to combine some simple ingredients such as lime, jalapeno peppers, fresh cilantro, and salsa. The result is chicken that is super tender and that you’ll want to make over and over again, so get the recipe here.

                  9. Beef Fajitas

                  Beef fajitas

                    This is an excellent meal for busy weeknights. The best thing about this recipe is that the required ingredients are probably already there in your kitchen. The recipe is also quite simple — combine all the items in a crockpot, cover, and let cook.

                    The result will be beef and peppers that melt in your mouth. You can easily pair this beef fajita with rice and tortillas and get a meal that the entire family will love. You can find the recipe for this delicious beef fajita here.

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                    10. Asian Chicken Lettuce Wraps

                    Asian chicken lettuce wraps

                      Asian chicken lettuce wraps are sweet, slightly salty and very easy to make. All you need to do is add the chicken, red bell pepper, carrots, soy sauce, honey, garlic and the other ingredients to your crockpot and let them cook. You can also replace the chicken with beef or turkey if you like. The presence of different flavors gives this meal a summer flavor you are sure to love. Learn how to make this meal here.

                      11. Hawaiian Chicken

                      Hawaiian chicken

                        This dish enjoys phenomenal exotic tones due to pineapple and lemon flavors. To make this yummy crockpot freezer meal, you need skinless chicken breasts, peppers, ginger and corn starch, in addition to the iconic pineapple and lemon. Learn how to make this perfect summer dinner here.

                        12. Beef and Barley Stew

                        Beef and barley stewd

                          Beef and barley stew is as healthy as it is delicious. Not to mention it’s incredibly easy to make. Besides the beef and barley, you’ll also need carrots, peppers, herbs and beef broth. The result will be a mouthwatering stew that you can serve alone or over white rice. Get the recipe here.

                          13. Meatball Soup

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                          Meatball soup

                            This soup is very delicious, easy to make and quite versatile. You will be able to swap ingredients and experiment to find your perfect combination. To make this meatball soup, you will need to combine meatballs with pasta sauce, chicken broth, carrots, beans, zucchini, and onion. You can view the recipe here.

                            14. Turkey Black Bean Chili

                            Turkey black bean chili

                              Everybody loves chili and for good reason — it’s very delicious, and it’s a perfect combination of different flavors that balance each other out. To make this chili, you’ll need ground turkey, tomato sauce, black beans, paprika, frozen corns, and a few other ingredients. You can get the full recipe here and have this delicious dish ready when you come back from work on those busy nights.

                              15. Ham and Pinto Bean Soup

                              Ham and pinto bean soup

                                What makes soups special is the fact they’re tasty, healthy and filling at the same time. This soup is no exception. The best quality of this ham and pinto bean soup, however, is its simplicity; it requires only five ingredients: ham, beans, ketchup, salt, and water. Learn how to make this soup here.

                                Conclusion

                                With a demanding work week and a busy schedule, it’s normal to have a low energy level by the time you get home. If you don’t feel like standing in the kitchen and cooking dinner due to this, you don’t have to resort to junk food. These freezer crockpot meals offer you the perfect solution for healthy meals that require minimal preparation. You can either combine each recipe’s ingredients in a freezer bag to be thawed and cooked in a few minutes, or you can cook your meal and freeze it to be used later, it’s up to you.

                                This article showed you 15 easy and simple recipes that you can make using your crockpot. All of these recipes contain anti-inflammatory foods whether it is in the form of vegetable, herbs or spices to improve your overall health and wellbeing.

                                Featured photo credit: Google via bettycrocker.com

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