Vast Majority Of Renters Say They Want To Buy

Dated: 10/12/2017

Views: 315

Recent data from Fannie Mae shows a large majority of current renters intend to someday buy a house. In fact, just 18 percent of surveyed renters said they plan to remain renters forever. 


So what are some of the obstacles renters face when thinking about whether or not they should begin taking steps toward homeownership? Well, the upfront costs of buying a home were the top answer, with 45 percent of respondents citing coming up with money for a down payment and closing costs as the obstacle that keeps them from buying. However, an almost equal amount said they were most concerned about their credit. Other answers included insufficient income, too much debt, confusion about the buying process, and job security. In short, current renters want to buy but are worried they aren't financially secure enough to become homeowners. 


And, though that is a legitimate concern, Fannie Mae also points out that their previous research has shown many potential home buyers overestimate the size of the down payment they'll need and are unaware of many of the programs available to help first-time home buyers reach their goal of becoming homeowners.


rentals


Blog author image

Tim Stoll

It’s hard to find another real estate agent in Dallas who is as hard working, honest, educated, experienced and personable as Tim Stoll . Born in Milwaukee, Wisconsin Tim came to Texas as a corp....

Want to Advertise on this Site?

Latest Blog Posts

Before You Make An Offer Here Are 4 Tips For Success

  Before You Make an Offer, Here Are 4 Tips for Success! So, you’ve been searching for that perfect house to call a ‘home,’ and you finally found it! The price is right, and in such a

Read More

Will A Realtor Really Help Me Make Money On The Sale Of My Home

Sure it may be tempting to forego hiring a realtor to help with the sale of your home, but if you knew how much a realtor could help you, you might change your tune._______ Every year home

Read More

5 Reasons To Sell This Winter

5 Reasons to Sell This Winter! Here are five reasons listing your home for sale this winter makes sense.1. Demand Is StrongThe latest Buyer Traffic Report from the National

Read More

Remember The Starbucks Effect When Buying A Home

I read recently that the CEO of Zillow.com, Spencer Rascoff collected some interesting statistics from the sites database of 110 million homes and the first one is my favorite.The Starbucks effect

Read More