Central Ohio home buyers have many things on their minds today, and rising home prices are chief among them. A recent study by the National Association of Home Builders surveyed home buyers state-by-state, and found that most of them shared universal concerns when it came to accomplishing home ownership.
On the whole, Ohio enjoys a higher rate of home ownership than many other states in the country, averaging 65%. Nationally, the home ownership rate stood at 64.2% at the end of 2017.
But getting there is becoming tougher as home price rise, and interest rates creep up.
Here are the top barriers to home ownership, according to the NAHB survey of Ohio home buyers:
- Finding a home in an affordable price range: 30%
- Having enough saved for a down payment: 29%
- Getting approved for a mortgage: 23%
- Finding a better job/increasing income: 18%
- Getting enough money from sale of current home: 17%
- Reducing consumer debts/student loans: 15%
- Obtaining information about the home purchase process: 8%
Despite the financial concerns, the desire for home ownership remains strong. And the advantages of home ownership are more than financial. About 72% of survey respondents see a home as a place to call their own. 53% see home buying as a good investment, and 51% see home ownership as desirable for raising a family.
Becoming a successful home buyer requires information, financial preparedness and fiduciary guidance! You can begin today by downloading our free e-book, “How to Buy a Home like a Pro!” We can also refer you to reliable, local lenders who will help you find the best mortgage options for your needs.
As your Exclusive Buyer’s Broker, we serve your best interests at all times! Unlike real estate agents and brokerages who represent sellers, as an Exclusive Buyer’s Broker, we only represent you, the buyer, getting you the best price and terms with no conflict of interest at all times.
Understanding this distinction could literally save you thousands of dollars not only on the purchase price and terms, but also on seller concessions and home inspection issues, whether you are a first-time homebuyer or an experienced homeowner!
Contact us with your home buying questions! Remember, we are with you every step of the way…all the way home!
Andrew Show
Broker, CEBA-M, CNE, CSP, PSA, e-PRO, CREM, ABRM, AHWD
Buyer’s Resource Realty Services, www.buyershome.com
Serving Metro Columbus, Ohio with Exclusive Buyer’s Agents
7100 North High Street, Suite 204, Worthington, Ohio 43085
614-888-4110 | 888-888-4110 Toll Free | 614-839-4110 Fax
