It looks like Generation Z (particularly those between the ages of 18 to 24) is eager to get an early start into homeownership: A new study by realtor.com® shows they’re two times more likely than previous generations to be saving for a home by the age of 25.
In certain areas of the country, homeowners are living beyond their means. Researchers at online loan marketplace LendingTree recently dug through credit report data to compare average household income, factoring in credit inquiries, the use of revolving credit lines, debt unrelated to housing, and mortgage balances.
The popularity of ride-sharing services and the coming of driverless cars paints a picture of garages disappearing from American homes. But we’re not there yet. Americans are still mostly dependent on their cars, and that means homeowners crave garage space—a lot of it. Read more HERE.
Rookie buyers looking for an affordable home may purchase one in need of repair in hopes of turning it into the house of their dreams. But an extensive rehab can quickly become the stuff of nightmares. Read more HERE.
The last few years, the home improvement business has been booming as more homeowners look to spruce up their homes. But are owners getting too confident that they can do it all themselves? “Costs, pop culture, and perhaps overconfidence could be driving DIY culture,” according to a new study from NerdWallet, a personal finance website.
NerdWallet’s 2018 Home Improvement Report found that younger generations are particularly gung-ho about tackling home improvement projects themselves than other age groups.
Grays, mixed metals, and farmhouse styles are some of the most popular trends for remodelers taking on sprucing up their master bathroom.
The 2018 U.S. Houzz Bathroom Trends Study is based on a survey of more than 1,100 homeowners who are planning or recently have completed a master bathroom renovation.
In the first year of ownership, 44 percent of homeowners say they experienced an unexpected home repair. And 12 percent said they experienced a surprise repair within their first month of moving in, according to a new NerdWallet survey of about 2,000 U.S. adults.
Credit scores often take about 11 months to fully recover after a consumer purchases a home, according to a new study by LendingTree, an online loan marketplace.
After a buyer purchases a home, their credit scores fall by an average of 15 points, but it takes 160 days—or slightly over five months—for the full impact to take effect.
Columbus, Ohio Ranks in the top 10 for recovery speed, though. Read more HERE.
The average down payment for a home is decreasing, which could be good news for those looking to buy. Prospective buyers may need to save less money for a down payment, according to a new study by LendingTree.
The average down payment amount for U.S. homes dropped in the third quarter by nearly 10 percent, falling from $52,480 to $47,265, the study shows. However, the overall average down payment percentages for conventional 30-year, fixed-rate purchase mortgage offers stayed about the same—about 18.05 percent.
LendingTree ranked states based on their average down payments.
Voice assistants, like Amazon’s Alexa and Google Assistant, are finding more uses in real estate, and not just for calling up homes for sale but also for easing the transfer of money. Some property managers are already experimenting with allowing their tenants to tell Amazon’s voice assistant, “Alexa, pay my rent.”