Being a millennial in her early twenties, Megan was convinced it would be YEARS before she owned her own home.

There was just no way she could afford to buy a home, let alone a new construction home built from the ground up with her style in mind!

She wouldn’t have been able to tell you the first thing about how to get a mortgage or what all a home loan even required. But thankfully she found her way to M/I Homes, and suddenly her homeowner dreams seemed closer than she could have imagined.

Read our interview with Megan about what it’s like to buy a home as a millennial!

M/I Homes: What Made You Decide to Buy a New Home?

Megan Knoell: I like to joke that it was an overnight decision, because it kind of was, even though in reality I had been thinking about it for a while.

I started asking around for advice on starting the process and how to figure out if I could really do this or not, and I got an idea of what it would take to buy a home. Ultimately what led me to making the final decision was a conversation with a dear friend of mine who has worked in the real estate industry for years.

She asked me to break down all my monthly expenses, how much I spend in miscellaneous items/services, and typically how much I’m left with after each paycheck. From there, she gave me a breakdown of what a typical mortgage payment might be, and it really opened my eyes to the affordability of owning my own home.

From there, I decided to apply for a loan to see what I could qualify for.

M/I: What Made You Choose M/I Homes Over the Other Builders in Your Area?

MK: I really liked the included features that M/I offered in the price range I was looking at. Even though I bought in a more affordable product line, I still received 10’ high ceilings, quality finishes, granite countertops, and so much more.

When I compared that to other builders, I felt like I was getting more for my money at M/I without sacrificing the quality or integrity of the construction process.

I also liked the look of each model I walked at M/I Homes. I felt their floorplans were laid out well, and every home had an inviting feel to them.

M/I: What Drew You to Overlook at Creekside as Your New Home Community?

MK: I was actually more focused on getting the floorplan I liked at a price that I could afford. I found the Kendall floorplan to be the perfect fit for me and only a few M/I communities around San Antonio offered it.

Overlook at Creekside happened to be one of the newest communities for M/I Homes at the time and was barely open for sale when I decided to buy—so I was excited to be one of the first homeowners in this spot!

It was also a very appealing community because of the location. It is right behind a huge shopping center which has been so convenient! Anything I need is less than a 5-minute drive from my front door.

Overlook at Creekside is in New Braunfels, which is a cute, community-centered suburb of San Antonio. I grew up in a smaller town like New Braunfels, so I appreciate the feeling of being back in a cozy community, without having to get rid of the big city convenience.

M/I: You Mentioned You Picked the Kendall Floorplan. What Was It About This Floorplan That Made You Commit to Building It as Your Home?

MK: I felt like it was the perfect size for me! It is just under 1,300 square feet, so it wouldn’t be too big of a house to do any cleaning or upkeep by myself.

I also liked the layout of the plan. The kitchen, dining area, and living area are all one big, open concept; the owner’s bathroom is huge; and the windows are placed in a way so that every inch of the house gets a ton of natural light.

M/I: What Was the Construction Process Like?

MK: The construction process was so easy! My construction manager, Matt Michulka, was phenomenal. He knew I was a first-time homebuyer, so he took extra time when walking me through each phase of the house to ensure that I understood everything that was happening and that I was satisfied.

I was also that excited homeowner who drove out to see my home every single weekend, and I noticed that the construction site was always well cleaned and taken care of, so that gave me extra peace of mind that my home would be treated with the same attention to detail.

It only took about 4 months for my home to be completed and M/I made sure that I was able to physically walk through it at each stage of the process. It flew by!

M/I: Who Did You Choose as Your Lender? What Was the Mortgage Process Like?

MK: I went with M/I Financial! I chose them because it just made sense to use the same company for every aspect of the process from mortgage, to building, to closing.

The mortgage process was way easier than I expected. I applied online and heard back with a pre-approval confirmation within 3-4 hours!

From there, I sent over all the required documents to my loan officer, Valerie Byrd, who was with me every step of the way. She walked me through each step of the process and explained to me why each document was needed and how they use it to calculate my mortgage payment.

I also liked that they provide an online portal where you can view the documents you have already submitted and the status of your loan.

The mortgage process was the aspect that I was most nervous about, and M/I couldn’t have made it any simpler. I am really appreciative that they were so knowledgeable and took extra care in helping me since I was a first timer.

M/I: How Would You Describe Your Overall Experience, From the Beginning, And Since You Have Moved In?

MK: The experience has been great! I have not run into any issues with any aspect of the process.

Everyone at M/I Homes has been so helpful. They have all answered every single question I have, always stop to say hello when they are in the neighborhood, and still email me every so often to check in on me and make sure I am still happy with my home.

The home itself is amazing—it’s more than I could have ever imagined my first home would be, and I’m enjoying getting to decorate it little by little. It’s a beautifully built home and I can just tell that M/I really takes pride in their work. They have set a very high standard for any future homes I may purchase!

M/I: Do You Have Any Advice for Other Millennials Your Age Looking to Buy Their First Home?

MK: Being a homeowner is more within reach than you might think. I know looking at the overall price of a home can be daunting and a big turn-off to buying a home, but when you look at what you actually pay per month, you might be surprised to find out that its cheaper than your current rent!

There is no rule as to when you’re allowed to/should buy your first home, so if you know you’re wanting to settle down in an area and you have the means to do so, definitely talk to a loan officer about mortgage options! Better to be paying $1,200 each month towards the equity of your HOME rather than $1,200 each month towards rent.

M/I: What’s Your Favorite Part of Your Home So Far?

MK: Definitely my backyard. I have an older dog who didn’t have a yard at my previous place. He absolutely LOVES to be outside and run around, so I took that into consideration when picking my lot during the contract phase.

It’s also the perfect space to host my friends and family, so I am quickly becoming the “hostess with the mostest” – which I enjoy. It’s all the more reason to share my home with the people that I love!

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We loved sharing in Megan’s first-time home buying experience with her, as well as following up with her now that she’s all moved in! Read more Happy Homeowner stories here.



Author

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Colleen Monroe

Author

As the Internet Sales Manager in San Antonio, Colleen is here to guide you through every step of the home buying process and answer any questions you may have. She covers all of our communities city wide and can even give you suggestions on what to do for fun in each surrounding area. Outside of #WorkLife, Colleen enjoys spending time with her husband and twin step-kids, playing with her cavi-poo, Chloe (#DogMom), and traveling. She’s also a Bravo TV fanatic, a pilates aficionado, and a Texas Tech graduate.