Kyle Elmore, Realtor

Rent is pretty much the worst thing. You are literally giving your hard-earned money to a landlord who is using those funds to pad their net worth and collect monthly cash flow. And you can’t even have a bbq grill, 2 dogs or paint your bedroom whatever color you want. Makes sense right?

But on the other hand, buying a home as a Young Professional can be terrifying too. Do I have enough for a downpayment? How does the process of buying a home work? Does it mean I am locked into one home for a few years, like no flirting with other homes or dating around to see what type of home I like?

I get it. I have helped several first time home buyers who are young professionals just like you. I’ve made the decision to buy homes a few times myself as a young professional too. I understand your fears and am sure that you have questions (come to YPAL’s Home Buying 101 on Thursday for more info too). With all these questions in mind, I thought I would throw together a quick blog for YPAL prior to our big event this week and answer the three most common questions that I get from YP first-time home buyers. Check out those questions and my answers below and get yourself to YPAL’s Home Buying 101 on Thursday at Monnik Beer and make sure to bring your personal questions with you.

Question 1: How Much $ Do I Need For A Downpayment?

Answer: Lots of factors and yet you only need 3.5% down to buy a home with an FHA loan. There are also several loan programs available in Louisville that enable a buyer to buy a home with 5% down.

Question 2: Should I Wait A Year To Save Up More $$ Before Buying?

Answer: I get this question pretty frequently. It is ultimately a personal decision, but since I get it a lot I will give you my 2 cents. Now is the best time to buy a home in American history. Interest rates are at or near record lows daily, home values are still recovering from 2008 and Louisville is one of the most affordable large cities in America to own a home. These factors combined create a perfect home buying storm and I do not think that interest rates and Louisville’s home ownership affordability will stay this way for much longer. Essentially, waiting could cause your buying power to shrink as values and rates go up, the amount of home you can buy goes down.

Question 3: Is It A Buyer’s or Seller’s Market?

Answer: Both. Home values are certainly recovering meaning that sellers have more equity and will be able to sell for more than a few years ago. But, interest rates are at record lows and home values are still rising making it a very attractive time to buy a home.

That’s it. Saving the rest for Thursday night – Home Buying 101 Event. Can’t make it but have some home buying questions? Let’s grab a coffee at Please & Thank You. Hit me up at or text me at 502-389-9920. You can also check me out at or

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