The real estate like fashion has its own trends. These trends serve as a mark and at the same time as tips for most people when it comes to property management, be it on a selling or buying perspective. Over the past decades trends in real estate had changed a lot, particularly in home buying. What lies underneath are some collated home buying trends that might be of great interest or help for you.
Technological Influence
According Chicago Agent Magazine, 21 percent of home buyers are said to have made an offer on a home without even having an actual glimpse of it. Online portals and mobile and computer apps which allows a 3D walkthrough makes it easier for most millennial to check and decide for a particular purchase. Consequently this technological influence in real estate resulted to a 17 percent of home purchase without an agent's assistance. This means a 12 percent increase since 2014.
Home Ownership and Stability
Surprisingly most millennial home buyers consider first safety, affordability and good schools when deciding to buy a home. A home is not considered by a number of buyers a status symbol but rather as a form of financial security according to CAM. "Fifty-eight percent of respondents bought a home for a sense of stability or permanence, and 44 percent bought for a safe place to invest money and build wealth (as opposed to 35 percent who wanted to achieve the American Dream of homeownership)."
Struggle and Hike
Unlike before when properties were scarce, buyers would have to fight or compete against other buyers for a certain property. Such event did not only result to bidding wars, but as well as price increase. However, in today's context, though properties are still increasing, choices are likewise increasing, thus making the price range a little bit buyer-friendly unlike before.
There are many things to consider when it comes to home buying. Many people would give emphasis on personal preference than what society or the media would dictate. On your part, you might have some own home buying guidelines in mind, feel free to share it with others and write a comment below.
