This month there are many college students graduating! That means millions of newly minted college graduates will be striking out on their own in search for a job and place to live. So, graduates, you’ve packed up your dorm room, thrown your books in storage (or out the window).
Now the questions of “what now” and “what next" arise. Some will opt for moving back to their parents’ houses, but many will decide the opposite: to rent or buy? As you prepare for the next steps in life, you have to think forward, evaluating your long-term goals. Planning to invest in homeownership sooner than later can be extremely beneficial.
The most affordable places to live for recent graduates include Dallas, St. Louis, and Houston, while the least affordable are Portland, Riverside, and Orange County. In general, the picture isn’t pretty for recent grads who want to find an affordable place on their own.
However, the people that head to the Midwest and Southern states after graduation tend to have more luck. Oklahoma is a great state full of various opportunities for recent grads looking for the perfect place to move.
Now, we’re not condoning rash or emotional decision-making. Impulsive decisions should be left in your dorm room and you should focus on planning for where and what you’ll be doing prior to purchasing a property.
There are many factors you'll need to take into account such as what will you be doing in the future. Planning on going back to school or moving shortly out-of-state? Buying property might not be the best decision for you if you find yourself in that position.
We encourage you to be aware of your financial standing, as it's important to know your credit score. There are a variety of free websites that can help such as Annual Credit Report.
Being careful and calculated in your decision-making enables you to see what you're able to afford and when. So, take your time and think twice. We’re here for you if you have any questions!
Happy graduation, college graduates from Oklahoma’s Real Estate Agency, “Rieger Realty."