Hey there, aspiring homebuyers in Plano, Texas! We will help you make this a reality.

Are you a member of Gen Z, wondering if buying a home in today’s market is more of a pipe dream? Given the challenges posed by inflation, rising home prices, and fluctuating mortgage rates, it’s natural to feel a bit overwhelmed. But here’s some good news: despite these hurdles, homeownership in Plano is not just a possibility—it’s an achievable goal, especially with expert guidance.

At NEXA Mortgage, we’re dedicated to turning your homebuying aspirations into reality, right here in the heart of Texas. Let’s walk through some tailored tips that can help you navigate the Plano real estate market.

1. Exploring Down Payment Options in Plano

Is securing a down payment in Plano out of reach? No, there are numerous local and national down payment assistance programs designed to make homeownership more accessible. Many of our homebuyers are also tapping into financial gifts from family to boost their initial investment. As your trusted local mortgage professionals, we can help you navigate these options, clarify how much you really need, and guide you on the best practices for utilizing gift funds.

For a sampling of down payment assistance and first-time homebuyer programs visit our loan program page or just call Richard Woodward, branch manager, at 214.945.1066

2. Economize by Staying Local

A trend we’re seeing with many young homebuyers in Plano is the choice to live with family to cut down on expenses. This strategy can significantly accelerate your savings. By reducing your overhead, you can focus on building a solid financial foundation faster than you might think possible.

You might even want to look at purchasing a multi-generational home. If you have a great relationship with a family member or even a close friend, you could combine your resources to purchase a larger home and live together.

3. Broaden Your Home Search in the Plano Area

Ready to house hunt? Flexibility is your best friend. Given the tight housing supply and competitive market in Plano, we recommend considering several types of homes and neighborhoods. Perhaps a cozy townhome in nearby Richardson or a starter home in the quieter parts of Allen could offer more bang for your buck. Exploring these options can open up more affordable pathways to homeownership.

If you can work from home, why not a rural home in Lavon, Nevada or Josephine? These areas allow 100% financing with our USDA Home loans.

4. Prioritize Your Home Needs and Wants

It’s crucial to distinguish between what you need in your first home and what you can live without. Not every first home has to tick every box on your wish list. Sometimes, the smart move is to focus on building equity and planning for that dream home in the future. Our team can help you determine your priorities and find a home that meets your essential criteria without breaking the bank.

Many home buyers, me included, started with a smaller home that fit my budget, not my every wish. I lived in the home for 3 years, then took my profits of equity gain to purchase my next step-up home.

Local Real Estate Trends in Plano

The Plano real estate market is bustling, with values steadily increasing, making it a wise investment for young buyers. However, the market’s competitiveness means acting decisively and smartly is more important than ever. Staying informed about local trends and market dynamics can significantly enhance your buying strategy.

I work with many of the top real estate professionals in the area, if you need a referral, I can help you with that. I might even be able to help you negotiate even better terms.

Bottom Line: Take Action Now

While the path to homeownership for Gen Z might seem daunting, it’s definitely within reach, especially here in Plano. By adopting the right strategies and leaning on local expertise, you can move closer to owning your own home.

Are you ready to get started on your homeownership journey in Plano? Contact The Richard Woodward Team NEXA Mortgage today. Visit our website or give us a call 214.945.1066, and let us help you navigate the exciting Plano real estate market. Your dream home is waiting, and we’re here to help you claim it!