Tag Archives: houses

Homeownership Has Benefits

Thinking of becoming a home owner?

Homeownership has a few benefits; improved: educational performance, health, and civic participation, and lower crime rates.

Homeownership has benefits

This infographic is from CAR.org.

Money Monday: Renters’ Dilemma

It can be tough to go from the role of renter to owner.

With good reason, for many. According to the CALIFORNIA ASSOCIATION OF REALTORS, 46% of consumers are renting because they can’t buy. And 62% of renters have debt that makes buying a home difficult; because of: student loans, auto loans and credit cards.

But homeownership is still highly valued. Renters, on average, rate the value of being a homeowner at 6.8 stars out of 10.

TheRentersDilemma_lo

This infographic is from the CALIFORNIA ASSOCIATION OF REALTORS: http://www.car.org/aboutus/onecoolthing/renters/

Common Remodeling Projects

When consumers remodel their home, they consistently focus on a couple key areas.

Those home owners, according to home remodelers, spend money on upgrading:

  • 81% focus on redoing the bathroom
  • 79% spend money and time on refreshing the kitchen

Room additions and whole house remodeling projects are two other focuses, but only about 47 – 49% of home owners work on those.

WhattheRemodelReveals

This infographic is from the CALIFORNIA ASSOCIATION OF REALTORS at CAR.org.

What’s in a Name? Energy Efficiency in Real Estate

Energy-efficient real estate and housing is a top priority for consumers; buyers and builders just call it different things.

An energy-efficient home when buying or remodeling is a top priority for 50% of interviewed consumers, and thus home builders often cater to and strive to build those types of houses. But the consumer and the builder often use different terms to describe sustainable, green and environmentally friendly real estate.

environmentally friendly real estate

This infographic is from CAR.org.

Buying real estate for first-time and repeat homebuyers

Why should you buy real estate?

For repeat and first-time homebuyers, the different reasons to buy a home have various degrees of importance.

Here is what’s most important to first-time homebuyers:

  1. They’re tired of renting (55%)
  2. They’d like a larger home (10%)
  3. They want to be in a better location (9%)
  4. They’ve had a change within their family (7%)

And for those moving up, these are the reasons in order of importance:

  1. They’d like a larger home (23%)
  2. They desire a better location (19%)
  3. They’re tired of renting (9%)
  4. They’ve had a change in family status (4%)

Why Buy

This infographic is from the CALIFORNIA ASSOCIATION OF REALTORS, at car.org.

Money Monday: Older buyers, more bathrooms

Today’s real estate market is a very different place than before the recession

home buildingAmerican home buyers are getting older and homes are getting bigger.

The median age of a homebuyer in 1985 was 35.

When the housing boom was nearing its peak in 2005, the median homebuyer’s age was 39. Now it’s 43, according to U.S. Census data.

Homebuilders are catering to more middle aged buyers by building larger homes.

Since 2000, the typical American home for sale had about 1,800 square feet. That’s remained fairly steady over time.

But new homes that are just being built typically have 2,200 square feet, according to an analysis by the National Association of Home Builders…

This article is from CNN Money. Read more at CNN Money here.

Housing Becoming Less Affordable

Real estate prices and interest rates are on the rise.

Both rising interest rates and higher-priced homes the first part of 2015 are lessening home affordability for would-be homebuyers.

  • Only 30% of potential homebuyers can afford the average-priced, single-family residence
  • The median price of a single-family home is $485,100
  • To qualify for a home loan to buy such a home, the average annual income needed is $96,160
  • The median-priced home requires a monthly payment of $2,404 (which includes taxes and insurance on a 30-year, fixed-rate loan)

PricesontheUptickInfographic from CALIFORNIA ASSOCIATION OF REALTORS.

Location, Location, Location…

When it come to real estate anyone can tell you that three of the most important factors in where you buy a home are location, location, location. This is one of those terms that we hear all the time and which becomes especially salient as we are searching for our dream home.

All too often buyers will be caught up in the excitement of the home buying process and make an offer on a home that seems too good to be true. unfortunately, many times it does turn out that the “perfect home for the reasonable price” is too good to be true.

The reason is simple – location. Buying a home in the wrong location is going to have a dramatic impact on how happy you are in your new home and also on the value of your home when you decide to sell.

For this reason it is important that you do your homework beforehand and pick out possible neighborhoods that suit your lifestyle. At the same time, keep an eye on that future date when you might put your new home back on the market and pick a neighborhood that is know for good schools and well maintained public facilities.

Once you have narrowed down the neighborhoods, visit the neighborhood and pick the best house available.

You’ll be happier in the end if you plan well in the beginning.