As a Real Estate Agent, I help people everyday who thinks that there is no way that they can afford to own their own properties. Sometimes it seems impossible, but in nearly every market and every town, there is some place for everyone. The first thing that you need to understand is what type of market that you are trying to get in to.

If you are a young couple with a small amount of money, you should probably choose a location where there are affordable options for housing; for instance, you probably don’t want to try and move to Beverly Hills, but you might be able to find a nice place nearby in Van Nuys. I am a Realtor in a cute little beach town on the California coast, and believe it or not, I have helped many young couples who don’t have a lot of money find wonderful starter homes. Here are some tips:

1. Think of your first place as a “starter home”, you probably aren’t going to find that perfect little house with a white picket fence and four bedrooms the first time around, but if you get your foot in the door now, someday you’ll be able to afford that dream.

2. Realize that Real Estate is an investment, and there is always a time and a place to “move up” once you are in the market.

3. Condos, Town Homes and Fixer-Uppers are NOT bad investments for the first time home buyer.

4. The money you “waste” on rent, is usually close to what you could get a mortgage on an affordable place for.

5. Understand WHERE you live, and think about the housing possibilities. You might end up having to live a little farther from your job and commute to find that perfect home, but it’s better than renting.

So, remember to think about your money and your prospects. Budget is important, so try to have one in mind when you go to meet your Realtor, and it’s always a good idea to get “pre-qualified” by a loan agent for what you CAN afford ahead of time.

It is not impossible to find a great starter home, even if you don’t have a lot of money to spend, just be ready to spend some time looking and learning about the market in your area.

By Sarah Williams