First Time Home Buyers Help Drive the Nation’s Economy

Chattanooga realty

Buying real estate is a better idea in some parts of the country than others. In the state of California, for instance, where property values have skyrocketed, investing in real estate can be fairly risky if you do not know what you are looking for. In other parts of the country, however, buying real estate can be a really good investment.
As an individual investment, making the decision to start working with a realtor, attending open houses, and buying real estate is an investment that can immediately start paying benefits. Having you own home, in fact, is an American dream that can help you make financial progress. After months or years of paying rent money to a landlord, the decision to buy your own home allows you to invest in yourself and your family every time you make a monthly payment. Paying yourself when you make a house payment means that you will be building equity in your home in a time when apartment rental prices can seem very high.
The fact that 32% of people looking to buy new homes are first time home buyers is an indicator that this is an investment that continues to drive the American economy. And while buying a home continues to be a good investment, it is a task that can be complicated. For this reason, 78% of recent buyers found their real estate agent to be a very useful source of information. From understanding the local market to knowing which homes are in which school districts, realtors can provide insight that online searches may not provide.
It should come as no surprise that 52% of home buyers indicate that finding the right property is the most difficult part of buying a home. And while many buyers look online when they begin their search, in most cases working with a realtor once you start to narrow your choices is necessary. In some parts of the country, the real estate market is so tight and competitive that without a realtor it can be difficult to get your hands on the fastest selling property options.

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