Maintaining a home mortgage can jumpstart a whirlwind of stressful emotions for any millenial post-college. However, choosing to buy a house can be an exciting milestone as you transition into adulthood and your professional career.

Here is what the real estate and financial experts have to say about the homebuying commitment of individuals in their twenties.

Juggling a Mortgage with Student Loan Debt

Financial experts have a lot to report regarding the current state of homebuying for a millennial buried in student loan debt. Gloria Shulman, the founder of Centek Capital Group, shared this point about how student loan payments impact homebuying:

"Student loan debt can kill a loan application, so if you can pay it off in 5 years, that's great. But remember, lenders look at your monthly payment – not the total loan amount. Refinancing lower student loan payments per month might make sense, and you will have more options in case your loan isn't paid off in five years."

These considerations substantiate the needed balance of your debt to income ratio. Finding the right plan for your monthly budget could make or break your financial positioning for a home. Further, agents often require a pre-approval letter in hand from a lender. This letter will display the maximum price you can afford.

There is also the dreaded credit score that no one desires to flaunt directly after graduating. Marjorie Klimek, LSS certified consumer credit counselor mentions the importance of good credit scores for homebuying:

"We want to be able to position them to bring that (credit) score up to be in a position to buy," said Marjorie Klimek, LSS certified consumer credit counselor.

Reaching out to a financial counselor or seeking online homebuyer education may boost you ahead of other buyers in the market. Further instruction on the subject may also explain hidden (and critical) costs like general home inspections and possible transfer taxes.

Real Estate Expert Advice for First-Time Homebuyers

In addition to reviewing your financial ability to sustain a home mortgage, there are certain times of the year that real estate experts swear by for purchasing a home. Skylar Olsen, the director of economic research for Zillow, shares her insight for homebuying opportunities based on seasonality. Olsen reveals that a buyer will have the largest selection of new listings from March through July. So, if you wish to have the most options and a chance at scoring your dream home, this time frame may be perfect for you.

In contrast, Olsen reports that the winter months mark the off-season of real estate. If you wish to swipe your home for a deal below list price, shopping for a house during November or December may work for you. Olsen spills potential scenarios of home-sellers during the off-season:

"Owners who list their homes during the off-season may be dealing with a time-sensitive situation (like relocation for a new job) that requires them to sell their properties as soon as possible..."

Olsen suggests a possible sweet spot for purchasing a home would be during August. This time tends to be when prices are not as high, but attractive options still linger on the market.

Renting a Home vs. Buying a Home

When deciding whether to rent or buy, there are multiple home ownership factors to consider before making the choice that is right for you. Before rushing into a decision to rent because you think it may be cheaper, make sure to compare the two options thoroughly. You may be pleased to hear the following benefits of owning a home:

When you own a home, you can abide by the "your house, your rules" mantra. Many renters cannot design, paint or renovate their living space the way they desire. Owning a home gives you the power to change the structure and design of every room and the overall floor plan.

Although purchasing a home may appear more expensive, ensuring an investment for the long-run as you gain equity over time may be the right decision for you. You may even qualify for down payment assistance.

If you want stability, obtaining the security of a predictable monthly payment may soothe your worries about fluctuating rent costs.

When you buy a home, you have the power to gain a level of privacy that is unattainable if you were to rent a house. Landlords can enter a rented living space unannounced during an emergency.

The Bottom Line: Are You Ready?

If you are ready to take the big step, know what you're looking for in a home. Make sure to know your budget and act fast when the right opportunity presents itself! In the real estate market, you have to be ready to move when the time is right.