Recent data from Fannie Mae shows a large majority of current renters intend to someday buy a house. In fact, just 18 percent of surveyed renters said they plan to remain renters forever.
So what are some of the obstacles renters face when thinking about whether or not they should begin taking steps toward homeownership? Well, the upfront costs of buying a home were the top answer, with 45 percent of respondents citing coming up with money for a down payment and closing costs as the obstacle that keeps them from buying. However, an almost equal amount said they were most concerned about their credit. Other answers included insufficient income, too much debt, confusion about the buying process, and job security. In short, current renters want to buy but are worried they aren't financially secure enough to become homeowners.
And, though that is a legitimate concern, Fannie Mae also points out that their previous research has shown many potential home buyers overestimate the size of the down payment they'll need and are unaware of many of the programs available to help first-time home buyers reach their goal of becoming homeowners.
Author:Tim Stoll Phone: 214-868-2959 Dated: October 12th 2017 Views: 114 About Tim: It’s hard to find another real estate agent in Dallas who is as hard working, honest, educated, ex...
Erick Murphy grew up in the heart of Dallas and has called it home for most of his life. After serving six years in the US Air Force, he began his career in business to business sales, honing his negotiation skills on multi-million dollar deals in the healthcare industry. In 2009, Erick decided to bring these skills into Real Estate.
Erick provides a level of customer service that is second to none, ensuring that he knows what his clients want and need, and then working tirelessly to make it happen. When it comes time to negotiate, his approach is notorious for earning top dollar for listings, and the lowest, fair price for his buyers.
Erick is also lead singer for the band Acoustic Kleptos, so you can find him often playing a guitar and belting out classic tunes at his neighborhood winery. If you enjoy golf, there’s a good chance you can talk him into a round or two, and an even better chance you’ll beat him.
Erick aims to be your REALTOR for life, and will go the extra mile to make your experience enjoyable and stress free. He, Along with JP and Associates, are sure to help you achieve your real estate goals.