As housing markets continue to change across the country, why are people buying homes now? While homebuyers and real estate agents have their theories, it’s likely because of a variety of reasons. While home buying can be exciting, it comes with its fair share of challenges.
From budgeting and financing to finding the right home and location, it’s no surprise that many homebuyers choose to buy homes now. Read on to learn why people are buying homes in pebble landing myrtle beach now, and how you can make the process easier and less stressful for yourself.
The Economy is Great for Buying Homes
With the economy in a good place, buying a home is affordable and easier. Many people are seeing an increase in their salary and better work opportunities, so they have more money to spend on housing. Plus, the interest rates here now are at historic lows.
People Feel More Secure in Their Homes
It’s a fact that people feel more secure in their homes. This security can be based on a variety of factors, but for many people, it’s because they know their home is theirs. They know it will be there when they need it to be. While owning a home doesn’t guarantee protection from all the highs and lows of the economy, it does offer stability during volatile times.
People Are Moving Out of their Home
One of the most common reasons why people buy homes now is because they are moving out of their current homes. Whether a family has grown and needs more space, or they have a change in financial situation, many people are moving out of their homes and need to purchase a new one.
When families grow, it’s not always easy to find the perfect home with enough space for everyone. With kids and pets running around the house, it can be hard to keep up with cleaning. And when finances change- whether due to retirement or for other reasons.
It is common for people to want to downsize which can bring about another challenge: finding an affordable place that meets their needs. It can be stressful for families or individuals who are used to living in a large home with lots of room, so buying a new home sooner rather than later may make sense.
Millennials Want Homes
Young people who’ve been living with their parents are now looking to buy homes. In 2012, only 22 percent of those aged 25-34 owned a home; in 2016, the number had grown to 34 percent. With the average age of marriage hovering around 29 for women and 27 for men, it makes sense that many millennial couples want to buy homes now.
Homes Are Getting Smarter
One of the newest trends that are contributing to people buying homes now is the increase in technology. Homes are becoming smarter, with more upgrades and features, making it easier for homeowners to control their homes from a distance.
This is one of the most popular reasons because people are always on the go and want to be able to remotely enter their homes with a code or keyless entry. With an increasing demand for fast, convenient living, it’s no surprise that these technologies are being updated and upgraded in homes across the country and drawing the attention of potential buyers.