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4 important things every millennial home buyer should know

Recently, there have been studies and articles stating that buying a home is not a priority for millennials and other young adults. There is also the position that buying a home is not financially possible for younger generations who carry more debt and earn less than their parents.

However, the fact is that millennials are buying homes. And they are drawn to trendy, urban areas, including many right here in California. If you are a young first-time home buyer, you should know the following important tips for buying a home here in California.

3 tips to consider when making a competitive offer

Los Angeles has a highly competitive housing market. As such, many houses up for sale will receive multiple offers, so it can be important to make your offer competitive when you find a home you want to buy.

And offering more money than the others is not the only way to compete.

What you should know about tenancy in common agreements

Los Angeles is one of the most expensive cities to buy a house. As such, it is not unusual for people to capitalize on the chance to buy a house for less.

One option for doing this is a tenancy in common (TIC). This arrangement allows multiple parties to buy property. Often, the property has multiple units that can be shared by multiple owners, like a bungalow court. However, before you agree to a TIC arrangement, you should know the advantages and disadvantages.

What property goes through probate?

It's not easy to think of your own mortality and what will happen to your loved ones after you're gone. That's why you've taken an interest in things like wills and trusts while you're still here to ensure your loved ones don't have to worry after you've passed.

What is Chapter 13 bankruptcy?

Many Americans find themselves falling behind on their bills and struggling to catch up. People can overspend on their credit cards to hold themselves over in the short term but can make their debt worse because of high interest. Student loans and surprise medical bills are other common sources of financial strain.