Buying a home is considered as an investment. However, there are many things to consider in buying a house. You may try to consult your parents about such big decision that you are going to make. However, there are some slight changes in perception, for buying trends have changed since your parent's time. In the following article of Yuqing Pan, it highlighted some of its notable changes:
How Has Buying a Home Changed Since Your Parents' Time?
Fact 1: Millennials rule, but more buyers are older
Compared to the good (?) old days, Americans are delaying homeownership, just as they are delaying marriage. Sure, older millennials may be making their impact felt on first-time home buying, but the overall age of homeownership is steadily rising.
Fact 2: It's not just Mr. and Mrs. Smith
Three decades ago, the home-buying club was almost exclusively married couples, who made up 81% of all owners. Now that number has declined to 67%; single females (15%), single males (9%), and unmarried couples (7%) are steadily on the rise. Read full post...
With all the said changes, you really cannot expect that their advice will answer most of your queries. It is of great importance to understand the latest trends and information on home buying. You should consider researching further beyond the scope of the knowledge of your old folk. With all the gadgets around, gaining useful information has never been too easy. Trent Hamm in his article shared some helpful tips for first-time home buyers, and this might be helpful for you to learn:
10 Tips for First-Time Home Buyers
Don't rush things
Because of the timing of my wife's pregnancy, we felt rushed into our home purchase. With a baby on the way, we knew our apartment would soon be exploding at the seams. Although I'm happy with our home purchase, I wish we hadn't rushed it so much.
Price-shop for a mortgage
The easiest way to get the best mortgage rates is to shop around as much as you can. When we were going through the home buying process, I was surprised at how much lower (and higher) mortgage rates from different firms could be. Read original text...
Like fashion trends, home buying trends will likewise change. The ones that you are reading right now may be relevant today and the coming years. But give it more time and it may already be obsolete depending on the market's movement. It is always good to make a certain degree of research and planning before moving into a home purchase. It is also helpful to ask some help from a reliable real estate agent.
