With Rents continuing to climb and interest rates staying low, many renters find themselves gazing over the homeownership fence and wondering if the grass really is greener. Leaving aside, for the moment, the difficulties of saving for a down payment, let’s focus on the monthly expenses of owning a home: it turns out that renters currently paying the median rent in many markets could afford to buy a higher-quality property than the typical (read: median-valued) home without increasing their monthly expenses.”
Why do you want to buy a home now? This question can elicit relevant information, including pregnancies, job changes or a child leaving for college. You can then use this insight to tailor your services to the buyer’s specific needs, so that you are only showing homes that your client is interested in.
Over the last six years, homeownership has lost some of its allure as a financial investment. As homeowners suffered through the housing bust, more and more began to question whether owning a home was truly a good way to build wealth.
Every three years the Federal Reserve conducts a Survey of Consumer Finances in which they collect data across all economic and social groups.