If you’ve never owned a home before, taking that leap into your first homeownership can often feel impossible. But know that you’re not alone in this process. 

Have you spent long nights scrolling through your phone, looking at listings and wondering to yourself when you will ever be ready to buy your first home?

Do you imagine yourself signing those papers and getting the key to your own place? 
But then, the fantasy shatters as your mind drift towards the down payment and the endless mortgage payments that would soon surely follow.

Yes, first homeownership can be scary, especially if you’ve never done it before. 
But here’s the truth, many first time home buyers in Charleston also face these same worries every year. But most of them discovered that taking that terrifying leap of faith into first homeownership beats waiting for that one “perfect” moment when you wait for everything to align. 

What Is Homeownership?

Although homeownership is often associated with owning property, it actually goes beyond that. Think of it like leadership. Both require an act of care. Hence, when you own a home you start to care for people, for spaces, and for the legacies that the home represents for your family. 

You care for the people who live under your roof. You care for the spaces you create within those walls. You care for the legacy you build for your future. 

In fact, according to a recent Forbes article on homeownership in the United States, homeownership is more than just owning property but rather it's about creating lasting memories in a space that is yours.  

Thus, it is a testament to how first homeownership encompasses mere real estate but rather cultivates a community of people who share the same values of leadership and care. 

Why Is Homeownership Important?
Now that you understand what homeownership is and what it means, let’s talk about why owning a home matters so much for first time home buyers.

• • Tax Benefits: Homeowners can deduct mortgage interest and property taxes from their income taxes. These deductions can put real money back into your pocket every year!
    

• • Financial Stability: Aside from deducting interests, your monthly mortgage payments also build equity in assets that you own. Over time, this equity becomes real wealth that could define your legacy.
    

• • Pride of Ownership: First time home buyers also experience a sense of fulfillment and freedom when they can make decisions on what they want to do with their space since the house belongs to them.
    
    
  • Wealth Building: Lastly, first homeownership is the fastest way to build wealth since your home’s value appreciates over time. 

Understanding why first homeownership is important helps you see beyond the fear of the initial down payment or the monthly mortgage payments. You see the value where you’re not just buying shelter but rather you are investing in your own financial independence and your family’s future legacy. 

Essential Tips for First Time Home Buyers

Now that you know why homeownership is important, you can move forward with your plans to purchase your own home. To help you on your first homeownership journey, here are practical tips every first time home buyer should know:

1. 1. Start with one small decision:
      Every big change starts with one small decision. Of course, you don’t need to figure it all out in one go. What you can do is pick one action that you can take this week and start from there.
      
      Maybe you can look at listings you like. Maybe you can get on a laptop and see which bank loans you can qualify for. The important thing as a first time home buyer is you take that small decision to start then work your way into it. Just trust yourself that you’ll figure it out as you go.
      
      This approach takes the pressure off of you. First time home buyers can often feel overwhelmed by the entire home buying process. Thus, breaking it into small decisions makes first homeownership achievable instead of impossible.
      
      
   2. Say yes even before you completely ready:
      This advice might sound counterintuitive, but it works. This is because most first time home buyers never feel 100% ready for first homeownership. But if you wait for the “perfect time”, chances are you might be waiting forever.
      
      Saying yes before you’re completely ready and jumping into it is how real progress happens. Have the grace to learn as you go. Give yourself permission to be a first-timer.
      Remember, every first time home buyer started where you are now. They also didn’t have all the answers at the beginning. But they moved forward anyway and now they’re homeowners.
      
      
   3. Believe you’re worth the investment:
      This mindset matters more than you think. Many first time home buyers often struggle with imposter syndrome. They often wonder if they deserve such a significant investment.
      
      But you do deserve it.
      
      When doubt creeps in, remember that first homeownership isn’t reserved for a special group of people. Rather, it is available to anyone willing to take the necessary steps to achieve it.
      
      
   4. Apply for first-time home buyers voucher:
      
      The Housing Choice Voucher Program (HCVP) offers homeownership assistance to eligible first time home buyers. This program can help you with your first homeownership expenses, making your dream of buying a home even more affordable.
      Many first time home buyers don’t usually know about this program. Thus, taking the time to explore whether you qualify could save you thousands of dollars and make homeownership possible sooner than you thought.
      
      
   5. Work with a real estate agent:
      A knowledgeable realtor can help guide first time home buyers like you through complex real estate transactions. They can help you look for listings within your budget, explain terms you don’t understand, and negotiate a good deal on your behalf.
      Remember to do your research and choose an agent who specializes in the neighborhood that you’re interested in. That way they would have a larger network who could provide more properties for you to choose from.
      But if you feel like you still need more information on the home buying process, you can always reach out to Professor Pelican for your inquiries. We’ll be happy to join you in your first homeownership journey.
      
      

Take Your Step Toward Your First Homeownership

As first time home buyers, you shouldn’t feel afraid of getting your first home. You don’t need perfect timing or unlimited resources. You just need the heart to start. 

First homeownership is really not that scary. There are plenty of programs that exist to help you with down payment and monthly mortgage payments. Additionally, there are plenty of education resources available to help you understand your options. 

The journey to first homeownership starts with education. Once you learn the process, understand your financing options, and research neighborhoods that interest you, you’ll start putting things together until you make your homeowning dream come true.

Every big change starts with one small decision. Make that decision today. Your future home is waiting for you. The only question left now is will you take that first step with our team here at callprofessorpelican.com today?