If one of the main reasons you’re hesitant to buy a home is because you’re worried about the upkeep, here’s some information you may find interesting on both new home construction and existing homes (a home that’s been lived in by a previous owner).Newly Built Homes Need Less Upfront Maintenance If you can afford it, you may find a newly built home could help ease your worries about maintenance costs. Think about it, if everything in the house is brand new, it won’t have the wear and tear you may see in an existing … [Read more...]
What’s Next for Home Prices and Mortgage Rates?
If you’re thinking of making a move this year, there are two housing market factors that are probably on your mind: home prices and mortgage rates. You’re wondering what’s going to happen next. And if it’s worth it to move now, or better to wait it out.The only thing you can really do is make the best decision you can based on the latest information available. So, here’s what experts are saying about both prices and rates.1. What’s Next for Home Prices? One reliable place you can turn to for information on home … [Read more...]
Should I Rent or Buy a Home? [INFOGRAPHIC]
Some HighlightsWhile renting may be less expensive in some areas right now, there are two big benefits homeownership provides that renting can’t. Owning a home means you get to say goodbye to rising rents and hello to stability. It also gives you the chance to gain equity as home values rise over time. If you’re ready to learn more about the perks of owning a home, connect with a local real estate agent. … [Read more...]
The Number of Homes for Sale Is Increasing
There’s no denying the last couple of years have been tough for anyone trying to buy a home because there haven’t been enough houses to go around. But things are starting to look up.There are more homes up for grabs this year. The graph below uses the latest data from Realtor.com to show in April 2024 there were more homes for sale than there were over the last few years (2021-2023): As Realtor.com explains:“There were 30.4% more homes actively for sale on a typical day in April compared with the same time in 2023, … [Read more...]
Why a Condo May Be a Great Option for Your First Home
Having a hard time finding a first home that's right for you and your wallet? Well, here's a tip – think about condominiums, or condos for short.They're usually smaller than single-family homes, but that's exactly why they can be easier on your budget. According to the latest data from the National Association of Realtors (NAR), condos are typically less expensive than single-family homes (see graph below):So, if you're comfortable with a smaller space and want to buy your first home this year, adding condos to … [Read more...]
Home Prices Are Climbing in These Top Cities
Thinking about buying a home or selling your current one to find a better fit? If so, you might be wondering what's going on with home prices these days. Here's the scoop.The latest national data from Case-Shiller and the Federal Housing Finance Agency (FHFA) shows they’re going up (see graphs below):As you can see, home prices were rising for most of 2023. But over the course of December and January, they were virtually flat – which is pretty normal for that time of year.But here's what you need to know now. As of … [Read more...]
The Top 2 Reasons To Consider a Newly Built Home
When you’re planning a move, it’s normal to wonder where you’ll end up and what your future home is going to look like. Maybe you’ve got a specific picture of that house in your mind. But unless you came into this process knowing you want to buy a newly built home, you may not have pictured new home construction.A trusted real estate agent can help walk you through these two reasons you may want to reconsider that.1. Adding Newly Built Homes Could Give You More OptionsThere are two types of homes on the market: new … [Read more...]
How Buying or Selling a Home Benefits Your Community
If you're thinking of buying or selling a house, it's important to know it doesn't just impact you—it helps out the local economy and your community, too.Every year, the National Association of Realtors (NAR) puts out a report that breaks down the financial impact that comes from people buying and selling homes (see visual below):When a house is sold, it really boosts the local economy. That’s because of all the people needed to build, fix up, and sell homes. Robert Dietz, Chief Economist at the National … [Read more...]
Tips for Younger Homebuyers: How To Make Your Dream a Reality
If you’re a member of a younger generation, like Gen Z, you may be asking the question: will I ever be able to buy a home? And chances are, you’re worried that’s not going to be in the cards with inflation, rising home prices, mortgage rates, and more seemingly stacked against you.While there’s no arguing this housing market is challenging for first-time homebuyers, it is still achievable, especially if you have professionals on your side.Here are some helpful tips you may get from a pro.1. Explore Your Options for … [Read more...]
Builders Are Building Smaller Homes [INFOGRAPHIC]
Some HighlightsHaving a hard time finding a home in your budget? Builders may have a solution that can help.Builders are shifting their attention to what buyers want most right now – smaller, more affordable homes.If you want to see what’s available locally and in other areas nearby, connect with an agent to explore your options together. … [Read more...]
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