A Guide to Buying a Home as a Young Professional

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A guide to buying a home as a young professional

As a young professional, are you thinking of buying a home? Are you considering it as the next phase of your young adulthood, or do you want it as an investment opportunity?

Whatever your reason for acquiring a home as a young professional, you need a guide to buying one. You need to know the pros and cons so you can make the right decision.

Since the purchase process is bound to be foreign to you, you may have questions such as:

Is it wise to buy a house at such a young age?

When is the best time to buy a house? or

What should be the most compelling reason to buy a home?

To answer these questions and walk you through the buying process, we have put together a guide to buying a home as a young professional.

Let’s begin!

Is it wise to buy a house at such a young age?

We must put forth that this question does not require a yes or no answer. This is because it largely depends on the buyer’s situation at the time of consideration.

For example, if a young professional has lots of debt or a job that requires constant travel, buying a home might not be a wise decision at that moment.

The reason is that in the former scenario, the young professional may not be able to meet up with the financial commitment required to own a home. In the second scenario, the home would sit vacant because the owner is unable to live there.

This shows that though buying a home is a smart decision and the advantages of homeownership are enormous, it only becomes beneficial when there are no other burdens.

When is the best time to buy a house?

As a young professional, there is no best time to buy a house, nor is there an appropriate age to do so. The yardstick to measure your readiness to purchase a home should be when you know you can comfortably afford the payments, handle any unexpected repairs, and live in the home long enough to cover the costs of buying.

Putting all of this into perspective, that is the best time to buy. This then means that your first step should be to consider your income and how much you earn.

What should be the most compelling reason to buy a home?

The most compelling reason to buy a home as a young professional is to prepare for greater financial security in the future. It’s no secret that owning a home frees you from paying rent. And rent we know takes a large part of a person’s income.

So, without a portion of every paycheck going towards the yearly rent payment, you will discover that there will be enough to save for investments and build equity that will help create wealth.

Therefore, put simply, achieving financial security as a young professional should be your number one goal for home ownership.

Buying a home is one of the most important decisions you can make as a young adult. It is also one of the most strenuous experiences if you are new to the process. Hence, to have a less daunting experience, you need a guide to buying a home as a young professional.

You may decide to enlist the assistance of a qualified and reputable agent to assist you in your search and guide you through the buying process, or you may not. However, what is most paramount is that you need to know what to consider to make beneficial decisions during the buying process.

A guide to buying a home as a young professional

  1. Evaluate your reasons for buying a home.

Buying a home should not be done on a whim. It is not a decision that should be made impulsively. As a young professional, you should be truthful with yourself to know if a home is attainable in your current reality.

Don’t only consider how beautiful it would be to own a home; consider the cost and other things like maintenance and upkeep as well! This will help you ground your decisions in reality.

If you are indeed ready, then set your sights on something you are capable of handling. Don’t be tempted to go for the biggest and best house, for whatever reason.

2. Determine your spending power.

To help you determine which houses are within your limits, you need to first determine your spending power.

Once you are able to ascertain your income and factor in how much it takes to maintain your lifestyle, you should have an estimate of what your spending power is.

With this information, you will be able to adjust your expectations and home preferences.

3. Create a budget

Creating a budget is very necessary for your home-buying process. It explicitly states how much you will be able and willing to part with to make your homeownership dream a reality. Also, it gives you a target amount if you are saving to make it happen.

However, it is important to note that the best way to set your budget is in a price range and make it flexible. This is because the prices of properties are constantly on the rise since there is an increasing demand for houses on a daily basis.

4. Examine your credit score

After setting your budget, you may discover you need a credit facility to purchase your home. If that is the case, it’s time to examine your credit score.

A good credit history and score will help make a good impression on financial institutions and increase your chances of getting a home loan.

However, your good credit rating is not the only qualification you need. Most times, you might be required to pay at least 10% of the purchase price, as well as the cost of transfer duties, and other levies such as bond registration fees etcetera, depending on the purchase options available. So be prepared!

5. Determine where (and what) you want to purchase.

Once you have the financials sorted out, you can now go ahead and determine where you want to live and what type of house you should buy.

To decide on the “where”, ask yourself do you prefer living in the suburbs or in the city.

If your preference is for the city, you should know that houses in the city are more expensive than those in the suburbs. Consider what works for you as a young professional before settling on where you want to live.

For the type of property to buy, there is a lot of property type to choose from. You may go for the best type of property common among young professionals, but don’t be obligated to stick to the norm if it doesn’t work for you.

6. Select an appropriate location

While you examine different house types, don’t live out the location. The location of your home is as important as the house itself.

Consider your lifestyle, where you work, and what you enjoy doing, and factor all of this into your decision. It is also important that you check to see if the house is located where you will have access to necessary amenities.

7. Conduct research

Conducting research is simply finding out and learning about the area’s average prices. Extending your research, you should also find out and understand why people are selling or buying in that area and the demographics in general.

This due diligence will help you know exactly what you want and have a realistic idea of what you can afford.

8. Consider renting

After doing your research, you may discover that your budget is not enough to get you the home you desire. At this time, it is acceptable to consider renting, of course, a low-cost apartment in order to save up for the purchase of the property.

If you need flexibility because of your lifestyle or career, you should also consider renting. If you also feel you don’t want to be responsible for any maintenance on a property, renting is your safest bet.

9. Collaborate with a property brand

Do you still want to buy a home? Collaborate with a property brand or agent to make the purchase process easier and faster.

With a property brand as your partner in your home search, much of the legwork will be taken care of for you. A reputable property agency will look out for your best interests and point you in the right direction every step of the way.

10. Choose functionality over beauty.

Lastly, once you find some house options to look over, do not be carried away by the “beauty factor” but check for functionality. It is more important to buy a home with relevant facilities that meet your needs than one that is simply beautiful.

Also, check the state of the home. Is it managed properly or not? To know a home with adequate property management, you find it is being supervised by a facility manager or a facility management company.


There are some facility management companies that offer property leasing and sales as a part of their services.

James Cubitt Facility Managers (JCFM) falls in this category. Through our PROPLET and PROPACQUIRE products, we assist young professionals and other buyers with their homeownership journey.

With us, purchasing your first home becomes less difficult than you think. We will give you the right support and recommendations so you can confidently get your home, whether you are leasing or buying.

Phone No: +234 904 000 6627, +234 904 000 6628

Email: info@jamescubittfm.com




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