Nine out of 10 millennial renters say they want to purchase a home, but few are planning to do so in the near term, according to a new survey by rental website Apartment List. The chief reasons keeping them from homeownership are affordability (72 percent) and lack of savings for a down payment (62 percent), the survey of 6,400 young adult renters shows. Nearly 50 percent of respondents say they have zero savings, while only 11 percent have saved $10,000 or more.
Are you getting few showings for your listing, or do visitors want to leave quickly? Here are a few items that could be turning off potential buyers.
A typical American household spends $2,060 a year on electricity, according to the U.S. Department of Energy. Unfortunately, if a home isn’t efficient, a lot of that energy goes to waste—possibly as much as three-quarters of it, according to Renewable Nation, a Washington, D.C.-based non-profit focusing on affordable and clean energy.
First-time buyer surveys consistently show the top hurdle to homeownership is saving up for the down payment. But potential home shoppers may be misunderstanding the amount of money they really need to buy a home. Read more HERE.
The colder months can make selling tougher. The home’s exterior can look dreary against a gray sky backdrop and buyers may want to go into hibernation rather than shop for homes in the chilly weather. But real estate and staging professionals say there’s still plenty you can do to make your listing stand out in the wintertime. Realtor.com® spotlighted a few of their ideas.
Young adults who are given financial help from their parents to live independently instead of living rent-free at their parents’ home tend to do better professionally, according to a study published in August in the Journal of Youth and Adolescence. Read more HERE.
Federal agencies have proposed a plan to reduce the number of homes that require an in-person appraisal, hoping to speed up the closing process and save money for home buyers and borrowers looking to refinance. Read more HERE.
When asked about life priorities, millennials name homeownership as their second-highest goal behind retirement—and before marriage and having children, according to Bank of America’s 2018 Homebuyer Insight Report. Seventy-two percent of millennials say owning a home is their top priority, while 50 percent pointed to marriage and 44 percent to having children.
Seniors are being targeted in a new real estate scam that tries to get them to sign over their home for far below market value.
Making sure a listing is clean when the owners have a dog or cat can be tough. Pets can leave behind messes, scratch marks, fur, dander, and odors. Home improvement website HouseLogic offers some of the following tips on how to tidy a house with pets while it’s on the market.