Posts Tagged ‘first-time home buyers’

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217,726 Reasons to Buy a Home Now!

June 10, 2015

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The inaugural Opportunity Cost Report was released recently by realtor.com. The report explained that “with interest rates and home prices expected to climb in the next year, the financial penalties of delaying or forgoing a home purchase in today’s market have become very steep”.

The report estimates that, based on today’s dollars, the average purchaser would accumulate $217,726 in increased wealth over a 30-year period.

(You can get the projected wealth increase for almost 100 metros here.)

What could this mean to someone sitting on the fence waiting to buy?

Experts believe that both home prices and mortgage interest rates will increase over the next twelve months. Obviously, if this does happen, the monthly cost of a home a year from now will be dramatically higher than it is today. The Opportunity Cost Reportbreaks down exactly how much a purchaser could lose over increments of one year and three years. Here are the results based on an average purchaser in the U.S. delaying their purchase:

The Cost of Waiting to Buy | Keeping Current Matters

Bottom Line

If you are ready, willing and able to buy a home, waiting doesn’t make sense.

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What do First-Time Home Buyers want?

September 7, 2008

So….tell me what you want, what you REALLY, REALLY want? A recent survey found some interesting facts about first-time home buyers…

THEY WANT A LARGE HOME. Overwhelmingly, they want more space. Doesn’t matter if there is only one person or two…they still demand room to roam.

The SECOND most important thing – 81% of people stated they wanted a home in MOVE IN CONDITION. With the advent of HGTV–type shows, more and more buyers (first-time or sixtieth-time) want homes that need no repairs, no work and are move in ready. In the real estate industry, we call that “turn-key” condition. The television shows have created people who expect perfection and will wait till they find it. Only 7% of the American population would even consider a fixxer-upper. Not good news for those of you who have dated homes for sale.

Finally, the THIRD most desirable feature would be-PROXIMITY TO WORK. The long commute to the suburb is a thing of the past. People work hard and they want to play hard without driving an hour to get there. So when you are looking to buy and considering future resale potential, take into consideration the commute to your downtown business centers and where your home is located. It could be the most crucial decision you make.