What You Want To Know If You’re Pursuing Your Dream of Homeownership
- nikkicloud5
- Jun 8, 2023
- 1 min read
Top Motivators To Buy a Home
Before you start the home buying process, it’s helpful to know why homeownership is so important to you. The survey mentioned above sheds light on some of the top reasons why younger generations are looking to buy a home.
It finds:
95% believe the cost of renting is too high
35% think owing a home is an important wealth building tool
16% seek the sense of security owning a home provides
37% plan to use it as an investment property
No matter which of these resonates the most with you, know there are many financial and non-financial reasons why you may want to buy a home. While your top motivator may be different than that of your friends, they’re all equally valid and worthwhile.
1. The Mortgage Process Can Be Intimidating
In the Maxwell study, 33.37% said one of their obstacles was that the mortgage process is confusing or difficult to understand.
An article by OwnUp helps explain why the mortgage process is so challenging for buyers.
2. It’s Hard To Know How Much You Need To Save
In the Maxwell study, 45.75% believe they don’t have enough saved to cover their down payment or closing cost expenses.
What you may not realize is that, today, there’s a growing number of down payment assistance programs available nationwide to help relieve this pressure.
If you’re serious about becoming a homeowner, know it may be more in reach than you think. Lean on trusted professionals to help you overcome challenges and prioritize your next steps.
Contact Information:
(682) 559-2210
Nikkicloud@kw.com
Nikki Cloud & The Key Team
https://www.key2yourdreamhome.com
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