Vast Majority Of Renters Say They Want To Buy

Dated: 10/12/2017

Views: 120

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


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

How To Make Buying A House Less Complicated

When asked, Americans overwhelmingly say they value homeownership and believe it increases financial stability. In fact, one recent survey found 93 percent of respondents said they felt that

Read More

5 Telltale Signs A Home Has Been Abused Or Neglected

Every house has a story to tell. What is the house you are looking at have to say about its upkeep (or lack thereof)?——Before you purchase a home, you want to know that past owners have taken

Read More

Potential Home Buyers Feel More Optimistic

Each month, Fannie Mae surveys Americans to get a feel for how people view the housing market, home prices, mortgage rates, and whether or not it's a good time to buy or sell a home. According

Read More

Comparing Landlord Insurance Policies

Comparing Landlord Insurance Policies!Before leasing out your property, you need to buy a landlord insurance policy. Landlord insurance policy is different from homeowner's insurance policy because

Read More