From new custom homes to refurbished older homes, there are many people all throughout the United States who are currently in the process of looking at homes and hoping to soon, someday, become home owners. In fact, there are more people looking to go through the process of buying a home in the United States than there have been in a long time, and many of them are younger than you might at first imagine. For instance, the end of the year of 2015 saw a total of more than five hundred thousand homes sold in the United States – that’s more than half a million. In the three years since that time, even more homes have sold and millennials in particular are finding themselves in the financial position to buy one, with more than sixty percent (significantly more than half) of all home owners in the year of 2017 either at the age of thirty five or even younger than it.
But buying a home is a big thing, a life changing thing. This is a hugely exciting thing and life change, there is no doubt about it. But because of the scale of its magnitude and impact on your life, it is important to take the process of home buying slowly to ensure that you will find the right home for you as well as for your partner and your family (if you have them). There are many things that are very important to consider in this home buying journey, and none should be overlooked.
For instance, the type of home that you want to live in is a crucial consideration to make. Many people, especially first time home buyers, are looking to live in new custom homes. In fact, data shows that as much as forty eight percent of all home buyers (very nearly half of them) are looking to live in new custom homes or new homes in general. These new custom homes will range in price, from modest ranches to much larger luxury homes, and are a good starting point even for the first time home buyer. In fact, among those who are looking to live in only new custom homes, more than thirty percent are first time home buyers who have never before owned a home and are new to process of searching for one. And there are many reasons that new custom homes and new homes in general are so popular. For one, they tend to have less in need of refurbishing or fixing, if anything at all – and this is something that is hugely desirable to the vast majority of prospective and would be home owners and buyers. Surveys among those looking to buy a new home even show that nearly thirty five percent of such people are looking to buy and own new custom homes to specifically to avoid existing problems with systems such as electricity or even plumbing.
When you consider your would be home, you must also consider the neighborhood that you would move into as well. For families with children, looking at homes such as luxury homes that are located in a good school district and a new custom home can be considerably raised in price (by as much as, on average, twenty percent based on being located in the area of a great school district. There are many benefits to living within walking distance of a great school, such as a higher level of community safety – and a guarantee that your children will get as great of an education as possible. For these reasons and more, many people, many families, decide that the higher cost of living is well worth it for the benefits that their children get.
The importance of choosing a home cannot be underestimated. From choosing a good neighborhood to finding new custom homes in that said neighborhood that you love, there are many things that must be taken into consideration. You must also consider your budget, one of the key factors when it comes to buying a home.