Tag Archive for buying trends

Homebuyers Round-Up: Four Reasons To Buy Now, Maintenance Tips You Need to Know, Pros and Cons of a Fixer Upper

 

The Homebuyer’s Round-Up is a curated list of home buying, home maintenance and related stories.

four-reasons-to-buy-a-home-this-fall

KEEPING CURRENT MATTERS
4 Reasons To Buy A Home This Fall!

Keeping Current Matters lists the four reasons to buy a home this fall. 1. Annual home prices will continue to rise. 2. Market rates will increase over the next 12 months. 3. Whether paying rent or paying to own a home, you’re creating equity; thus, it’s better to create it for yourself rather than a landlord. 4. Depending on where you are in life and your goals, it could simply be the best time to buy.

AMERICAN HOME SHIELD
Maintenance Tips Every New Homeowner Needs to Know

Becoming a homeowner is one of the biggest decisions that many will make in their lives. Knowing what preventative home maintenance tasks to address can help a new homeowner make the decision a less daunting one. According to American Home Shield, some steps to take include locating your main water shut off valve, finding your circuit breaker box, checking your foundation and calling 811 before you dig.

HOUSINGBUZZ
Pros and Cons of Buying a Fixer Upper

Purchasing a fixer upper has its pros and cons. Housing Buzz Blog suggests the following pros and cons to consider if you aren’t sure if a fixer upper is right for you. Some pros to buying a fixer upper include lower monthly payments and tax savings. Some cons include multiple repairs and going over budget.

HUFFPOST | Vicky Law
Six Renovation Tips That Can Help Reduce the Cost of Your Home Maintenance

Early home renovation is highly cost effective when it’s properly planned. HuffPost provides six tips to help homeowners reduce maintenance costs. Among the list are to only seek professional opinions for major renovations, plan renovations between January and April for better discounts, and buy supplies at a thrift market or auction.

REALTOR.COM | Clare Trapasso
Why It’s a Better Time for Buyers on a Budget to Purchase a Home

We’re now past the most competitive season for home buying. According to Realtor.com, the median price of an existing home dropped for the second month in a row from $263,300 to $253,000. Home prices typically drop in the fall since most families purchase houses in the summer so that they can settle before the school year.

 

 

 

Small Homes Are Trending with First-Time Home Buyers

Tiny Homes

According to the National Association of Home Builders (NAHB), first-time homes are coming in smaller packages.

The Association recently released the NAHB Home Builder Preferences Survey, indicating that smaller homes are selling well, primarily to first-time buyers, especially to the latest cohort – millennials. The home builders interviewed for the report suggest that many people now prefer to purchase small. And U.S. Census Bureau figures support that position: the average home built in 2016 was 2,634 sq. ft., down from 2,689 sq. ft. in 2015.

“2016 marked the end of an era that began in 2009, when homes got bigger and bigger with more amenities,” said Rose Quint, NAHB’s Assistant Vice President of Survey Research. “I expect the size of homes to continue to decline as demand increases from first-time buyers.” Smaller homes are finding favor with other groups as well. Retirees who enjoy traveling find that smaller, lock-and-leave residences fit their on-the-go lifestyles, and economic realities mean that they now have to think small.

While both the downsizing and millennial buyers are comfortable with less space (and the resulting savings on utility bills), they still expect the luxurious finishes and modern amenities available in larger homes. Millennials, because that’s what’s trendy now, and retirees, because they don’t want to feel they’re settling for less.

As a result, home décor magazines and TV network programs are touting the benefits of small homes and showcasing elegant space-saving solutions designed for those who want to scale down their homes without changing their lifestyles.

Call one of Guidance Realty Homes‘ agents who can show you how to maximize your space and find the perfect home; not too small, but not too big either. Guidance Realty Homes was founded with one goal in mind – to simplify the process! Check us out online to search our top-notch listings so you can find your ideal home.