Are you 1 of the 59 million planning to buy a home in 2020?
As a real estate professional, we are always looking for ways we can provide more value to our clients. When working with home buyers there is so much more involved than just finding a home to buy. Today with everyone using the internet to do their shopping online, looking at houses and making lists to tour then is the easy part.
Where professional agents bring the most value is assisting buyers through the entire process. As agents, we have built solid community business relationships with numerous key professionals that are involved in different pieces of the home buying process. When getting started with your home buying goals, understanding your financial capabilities and how lenders operate can be a big asset.
Let’s take a look at who is currently forecasted to buy a home in 2020…according to a national survey conducted by Bankrate.com, one in four Americans are considering buying home this year! If this statistic proves to be true, this means that 59 million people will be looking to enter the housing market in 2020 through 2021.
The survey also revealed 3 key takeaways:
1. Those most likely to buy are ‘Older Millenniums’ (ages 27-36) or ‘Generation X’ (ages 37-52).
2. Military population looking at significant relocations.
3. Many potential buyers believe they need to put 20% down and need to have perfect credit to own and are unaware of programs that would allow then to buy now.
Holding Lewis, a mortgage analyst for Bankrate.com, pointed to one big reason why many Americans are considering homeownership in 2020:
“Having kids and raising a family is a primary reason why Americans take the leap into homeownership – many consider it a key component of the American dream”
So if buying a home is part of your dream for 2020, lets meet for coffee and get an early jump on the process so I can help you determine if you are ready.