Getting More House
Couples and families who have been renting are in for a pleasant surprise when they go house hunting. They won’t have to settle for a starter home. Half of all home sales last year were to people who never owned a home before, according to the National Association of Realtors. A recent Caldwell Banker survey shows that they were in for some surprises when they sealed a deal:
– 67% said they had the opportunity to buy a home sooner than they expected
– 50% said they found a home in a more desirable neighborhood than expected
– 61% got a better price than they expected to pay
– 40% got a larger house than they expected to get
– 43% locked in a lower interest rate than expected
Of course, a similar degree of satisfaction among all home buyers today is industry wide.
As with most house hunters, the first-timers looked at about 11 homes before making a decision. Buyers are looking for features that appeal to them, and they have a good selection to choose from.
Here’s a tip for sellers:
First-timers are busy people. They want a home that is ready to live in right now with no repairs required.
Though buyers say they want a nice location, the fact is that almost any location can be just right for someone. It might be closer to their employment or closer to where parents, other family members or friends live.
Thank you Joel from Wave Lending for the article.