The home buying market is back up, and potential home buyers are accessing the internet for help in finding the perfect property. Over a third of all homes purchased last year were purchased by homeowners who had never owned a home before, and about four out of 10 properties listed were only up for sale for a few weeks.
To find a new home, potential buyers have to act fast and make sure that they are getting good-quality properties. They are looking for houses, cottages, and townhomes that are energy efficient and that are worth the investment.
Typically, home buyers are looking for a home that is about 2,000 square feet, built in the last 25 years, and has more than two bedrooms. They are overwhelmingly looking for a good neighborhood with a good school district, sacrificing home size for safer surroundings. And nine out of 10 potential homeowners would rather buy a home that has smart appliances and energy-saving functionality, being willing to pay more for a home that is eco-friendly.
When buying houses and townhomes, potential buyers are financing about 90% of the cost of purchase when they choose to finance, rather than pay cash. Many are going online and accessing government-funded, low interest rate loans geared toward first-time homebuyers, and close to half are getting their home listings from the internet, citing a fast-moving marketplace.
In the course of looking for homes for sale, many first-time home buyers are getting involved with a local home buyer seminar. These classes typically last for several weeks and are designed to ease the home buying process, giving the potential homeowners information about financing, the inspection process, when to involve a real estate agent, and other important facets of becoming a first-time homeowner.
When neighborhoods are full of buyers, rather than renters, local businesses can benefit from customers who are more likely to be long-term customers. People who are looking to buy houses or townhomes can benefit from home buying seminars and by internet research. Finding the perfect house can be a trying process, and although houses are selling so rapidly, it is still important to take the time needed to make such a big decision.
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