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        <title>Real Estate Blog</title>
        <link>http://www.minneapolisurbanhomes.com/blog/2021-12/</link>
        <description></description>
<item>
    <guid>https://www.minneapolisurbanhomes.com/blog/why-selling-your-house-with-a-real-estate-professional-is-essential.html</guid>
    <link>https://www.minneapolisurbanhomes.com/blog/why-selling-your-house-with-a-real-estate-professional-is-essential.html</link>
        <author>richard@drgmpls.com (Richard Newman)</author>
        <title>Why Selling Your House with a Real Estate Professional Is Essential</title>
    <description> <![CDATA[ 



 




Selling your house is no simple task. And when you sell on your own – known as a FSBO (or For Sale by Owner) – you’re responsible for handling some of the more difficult aspects of the process without the expert guidance you need.


The 2021 Profile of Home Buyers and Sellers from the National Association of Realtors (NAR) surveys homeowners who recently sold their house on their own and asks what difficulties they faced. Those sellers say some of the biggest headaches are prepping their house for sale, pricing it right, and handling the required paperwork.


Working with an agent is the best way to ensure you have an expert on your side to guide you at every turn. Agents have the skills and knowledge that are essential to navigating each step with ease, efficiency, and accuracy. Here are just a few things a real estate agent will do to make sure you get the most out of your sale.


1. Make the Best First Impression


Selling your house requires a significant amount of time and effort. Doing it right takes expertise and an understanding of today’s buyers. Your agent knows the answers to common questions, such as:




Do I need to take down my personal art?


How much landscaping does my house need?


What colors should I paint my walls?




Your time and money are important, and you don’t want to waste either one focusing on the wrong things. A real estate advisor relies on their experience to answer these questions and more, allowing you to make the right investments to prep your house before you list.


2. Maximize Your Buyer Pool – and Your Sale


Today, the average home is getting 3.6 offers per sale according to recent data from NAR. That’s great news if you’re planning to sell, since the more offers you receive, the more likely you are to sell your house in a bidding war, and for a higher price.


Real estate agents have an assortment of tools at their disposal, like social media followers and agency resources, that will ensure your house is viewed by the most buyers. Without access to these tools and your agent’s marketing expertise, your buyer pool – and your home’s selling potential – is limited.


3. Understand the Documentation, Including the Fine Print


Today, when a house is sold, more disclosures and regulations are mandatory, meaning the number of legal documents to juggle is growing. It’s hard to understand all the requirements and fine print (especially if you’re not an expert). That’s why your advisor is an invaluable guide.


Your agent knows exactly what needs to happen, what all the paperwork means, and can work through it efficiently. They’ll help you review the documentation and avoid any costly missteps that could happen if you tackle it on your own.


4. Act as Your Expert Negotiator


If you sell without an agent, you’ll also be solely responsible for all negotiations. That means you have to coordinate with:




The buyer, who wants the best deal possible


The buyer’s agent, who will use their expertise to advocate for the buyer


The inspection company, which works for the buyer and will almost always find concerns with the house


The appraiser, who assesses the property’s value to protect the lender




Instead of going toe-to-toe with all these parties alone, lean on an expert. Your agent relies on experience and training to make the right moves throughout the negotiation. They’ll know what levers to pull, how to address each individual concern, and when you may want to get a second opinion. When you sell your house yourself, you’ll need to be prepared to have these conversations on your own.


5. Price It Right


Real estate professionals have the expertise to price your house accurately and competitively. To do so, they compare your house to recently sold homes in your area and factor in the current condition of your house. These factors are key to making sure your house is priced to move quickly and get you the maximum return on your investment.


Keeping Current Matters 12/30/21


When you sell as a FSBO, you’re operating without this advantage. That could cost you in the long run if you price your house too high or too low.


Bottom Line


There’s a lot that goes into selling your house, and it takes time, effort, and expertise to truly maximize your sale. Instead of tackling it alone, let’s connect to make sure you have an expert on your side.


 ]]> </description>
    <pubDate>Thu, 30 Dec 2021 09:42:00 -0600</pubDate>
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    <guid>https://www.minneapolisurbanhomes.com/blog/expert-insights-on-the-2022-housing-market.html</guid>
    <link>https://www.minneapolisurbanhomes.com/blog/expert-insights-on-the-2022-housing-market.html</link>
        <author>richard@drgmpls.com (Richard Newman)</author>
        <title>Expert Insights on the 2022 Housing Market</title>
    <description> <![CDATA[ 



 




As we move into 2022, both buyers and sellers are wondering, what’s next? Will there be more homes available to buy? Will prices keep climbing? How high will mortgage rates go? For the answer to those questions and more, we turn to the experts. Here’s a look at what they say we can expect in 2022.


Odeta Kushi, Deputy Chief Economist, First American:




“Consensus forecasts put rates at about 3.7 by the end of next year. So, that's still historically low, but certainly higher than they are today.”




Danielle Hale, Chief Economist, realtor.com:




“Affordability will increasingly be a challenge as interest rates and prices rise, but remote work may expand search areas and enable younger buyers to find their first homes sooner than they might have otherwise. And with more than 45 million millennials within the prime first-time buying ages of 26-35 heading into 2022, we expect the market to remain competitive.”




Lawrence Yun, Chief Economist, National Association of Realtors (NAR):




“With more housing inventory to hit the market, the intense multiple offers will start to ease. Home prices will continue to rise but at a slower pace.”




George Ratiu, Manager of Economic Research, realtor.com:




“We also expect a growing number of homeowners to bring properties to market, taking some pressure off high prices and offering buyers more options.”




Mark Fleming, Chief Economist, First American:




“Strong demographic demand will continue to act as the wind in the housing market’s sails.”




What Does This Mean for Buyers?


Hope is on the horizon for 2022. You should see your options grow as more homes are listed and some of the peak intensity of buyer competition starts to ease. Just remember, rising rates and prices are a great motivator for you to find the home of your dreams sooner rather than later so you can buy while today’s affordability is still in your favor.


What Does This Mean for Sellers?


Make no mistake – this sellers’ market will remain in 2022 as home prices are projected to continue climbing, just at a more moderate pace. Selling your house while buyer demand is so high will truly put you in the driver’s seat. But don’t wait too long. With more listings projected to become available, your ideal window of opportunity to stand out from the crowd won’t last forever. Work with an agent who knows your local market and current inventory conditions to ensure you have the support you need to make an educated and informed decision about selling in the coming year.


Bottom Line


If you’re thinking of buying or selling, 2022 may be your year. Let’s connect to discuss your goals and the unique opportunities you have in today’s housing market.


Keeping Current Matters 12/29/21


 ]]> </description>
    <pubDate>Wed, 29 Dec 2021 14:38:00 -0600</pubDate>
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    <guid>https://www.minneapolisurbanhomes.com/blog/5-tips-for-making-your-best-offer-on-a-home.html</guid>
    <link>https://www.minneapolisurbanhomes.com/blog/5-tips-for-making-your-best-offer-on-a-home.html</link>
        <author>richard@drgmpls.com (Richard Newman)</author>
        <title>5 Tips for Making Your Best Offer on a Home</title>
    <description> <![CDATA[ 



 




As a buyer in a sellers’ market, sometimes it can feel like you’re stuck between a rock and a hard place. When you’re ready to make an offer on a home, remember these five easy tips to help you rise above the competition.


1. Know Your Budget


Knowing your budget and what you can afford is critical to your success as a homebuyer. The best way to understand your numbers is to work with a lender so you can get pre-approved for a loan. As Freddie Mac puts it:




“This pre-approval allows you to look for a home with greater confidence and demonstrates to the seller that you are a serious buyer.”




Showing sellers you’re serious can give you a competitive edge, and it helps you act quickly when you’ve found your perfect home.


2. Be Ready To Move Fast


Homes are selling quickly in today’s competitive housing market. According to the Existing Home Sales Report from the National Association of Realtors (NAR):




“Eighty-three percent of homes sold in November 2021 were on the market for less than a month.”




When houses are selling this fast, staying on top of the market and moving quickly are key. Your agent can help you put together and submit your best offer as soon as you find the home you want to buy.


3. Lean on a Real Estate Professional


No matter what the housing market looks like, rely on a trusted real estate advisor. As Freddie Mac also notes:




“The success of your homebuying journey largely depends on the company you keep. . . . Be sure to select experienced, trusted professionals who will help you make informed decisions and avoid any pitfalls.”




Agents are experts in the local real estate market. They have insight into what’s worked for other buyers in your area and what sellers may be looking for in an offer. It may seem simple, but catering to what a seller needs can help your offer stand out.


4. Make a Strong, but Fair Offer


According to the latest Realtors Confidence Index from NAR, 40 of offers today are above the list price. In such a competitive market, emotions and prices can run high. Having an agent to help you submit a strong, yet fair offer is critical in these situations. Your agent can help you understand the market value of the home and recent sales trends in the area.


5. Be a Flexible Negotiator


When putting together an offer, your trusted real estate advisor will help you consider which levers you can pull, including contract contingencies (conditions you set that the seller must meet for the purchase to be finalized). Of course, there are certain contingencies you don’t want to give up. Freddie Mac explains:




“Resist the temptation to waive the inspection contingency, especially in a hot market or if the home is being sold ‘as-is’, which means the seller won’t pay for repairs. Without an inspection contingency, you could be stuck with a contract on a house you can’t afford to fix.”




Bottom Line


Today’s competitive landscape makes it more important than ever to make a strong offer on a home. Let’s connect to make sure you rise to the top along the way.


Keeping Current Matters 12/28/21


 ]]> </description>
    <pubDate>Tue, 28 Dec 2021 13:31:00 -0600</pubDate>
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    <guid>https://www.minneapolisurbanhomes.com/blog/key-things-to-avoid-after-applying-for-a-mortgage.html</guid>
    <link>https://www.minneapolisurbanhomes.com/blog/key-things-to-avoid-after-applying-for-a-mortgage.html</link>
        <author>richard@drgmpls.com (Richard Newman)</author>
        <title>Key Things To Avoid After Applying for a Mortgage</title>
    <description> <![CDATA[ 



 




Once you’ve found your dream home and applied for a mortgage, there are some key things to keep in mind before you close. It’s exciting to start thinking about moving in and decorating your new place, but before you make any large purchases, move your money around, or make any major life changes, be sure to consult your lender – someone who’s qualified to explain how your financial decisions may impact your home loan.


Here’s a list of things you shouldn’t do after applying for a mortgage. They’re all important to know – or simply just good reminders – for the process.


1. Don’t Deposit Cash into Your Bank Accounts Before Speaking with Your Bank or Lender.


Lenders need to source your money, and cash isn’t easily traceable. Before you deposit any amount of cash into your accounts, discuss the proper way to document your transactions with your loan officer.


2. Don’t Make Any Large Purchases Like a New Car or Furniture for Your Home.


New debt comes with new monthly obligations. New obligations create new qualifications. People with new debt have higher debt-to-income ratios. Since higher ratios make for riskier loans, qualified borrowers may end up no longer qualifying for their mortgage.


3. Don’t Co-Sign Other Loans for Anyone.


When you co-sign, you’re obligated. With that obligation comes higher debt-to-income ratios as well. Even if you promise you won’t be the one making the payments, your lender will have to count the payments against you.


4. Don’t Change Bank Accounts.


Remember, lenders need to source and track your assets. That task is much easier when there’s consistency among your accounts. Before you transfer any money, speak with your loan officer.


5. Don’t Apply for New Credit.


It doesn’t matter whether it’s a new credit card or a new car. When you have your credit report run by organizations in multiple financial channels (mortgage, credit card, auto, etc.), your FICO® score will be impacted. Lower credit scores can determine your interest rate and possibly even your eligibility for approval.


6. Don’t Close Any Credit Accounts.


Many buyers believe having less available credit makes them less risky and more likely to be approved. This isn’t true. A major component of your score is your length and depth of credit history (as opposed to just your payment history) and your total usage of credit as a percentage of available credit. Closing accounts has a negative impact on both of those determinants of your score.


Bottom Line


Any blip in income, assets, or credit should be reviewed and executed in a way that ensures your home loan can still be approved. If your job or employment status has changed recently, share that with your lender as well. The best plan is to fully disclose and discuss your intentions with your loan officer before you do anything financial in nature.


Keeping Current Matters 12/27/21


 ]]> </description>
    <pubDate>Mon, 27 Dec 2021 10:01:00 -0600</pubDate>
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    <guid>https://www.minneapolisurbanhomes.com/blog/the-average-homeowner-gained-56700-in-equity-over-the-past-year.html</guid>
    <link>https://www.minneapolisurbanhomes.com/blog/the-average-homeowner-gained-56700-in-equity-over-the-past-year.html</link>
        <author>richard@drgmpls.com (Richard Newman)</author>
        <title>The Average Homeowner Gained $56,700 in Equity over the Past Year</title>
    <description> <![CDATA[ 



 




When you think of homeownership, what’s the first thing that comes to mind? Chances are you might focus on the non-financial benefits, like the security or stability a home provides. But what about equity? While it can be overlooked, a homeowner’s equity helps build long-term wealth over time. Here’s a look at what equity is and why it matters.


For a homeowner, your equity is the current value of your home minus what you owe on the loan. So, as home values climb, your equity does too. That’s exactly what’s happening today. There aren’t enough homes on the market to meet buyer demand, so bidding wars and multiple offers are driving prices up. That’s because people are willing to pay more to buy a home. Right now, this low supply and high demand are giving current homeowners a significant equity boost.


Dr. Frank Nothaft, Chief Economist at CoreLogic, explains it like this:




“Home price growth is the principal driver of home equity creation. The CoreLogic Home Price Index reported home prices were up 17.7 for the past 12 months ending September, spurring the record gains in home equity wealth.”




To find out just how much rising home values have impacted equity, we turn to the latest Homeowner Equity Insights from CoreLogic. According to that report, the average homeowner’s equity has grown by $56,700 over the last 12 months.


Curious how your state stacks up? Check out the map below to find out the average equity gain for your area.


How Rising Equity Impacts You


If you’re already a homeowner, equity not only builds your wealth, it also opens doors for you to achieve your goals. It works like this: when you sell your house, the equity you built up comes back to you in the sale. You can use those proceeds to fuel your next move, especially if you’ve decided your needs have changed and you’re looking for something new.


If you’re thinking about becoming a homeowner, understanding the importance of equity can help you realize why homeownership is a worthwhile goal. It builds your wealth and gives you peace of mind that your investment is a wise one, not just from a lifestyle perspective, but from a financial one too.


Bottom Line


Whether you’re a current homeowner or you’re ready to become one, it’s important to know how equity works and why it matters. If this inspires you to make a move, let’s connect to explore your options and find out what steps you need to take next.


Keeping Current Matters 12/21/21


 ]]> </description>
    <pubDate>Tue, 21 Dec 2021 10:54:00 -0600</pubDate>
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    <guid>https://www.minneapolisurbanhomes.com/blog/two-reasons-why-waiting-to-buy-a-home-will-cost-you.html</guid>
    <link>https://www.minneapolisurbanhomes.com/blog/two-reasons-why-waiting-to-buy-a-home-will-cost-you.html</link>
        <author>richard@drgmpls.com (Richard Newman)</author>
        <title>Two Reasons Why Waiting To Buy a Home Will Cost You</title>
    <description> <![CDATA[ 



Source: KeepingCurrentMatter.com




If you’re a homeowner who’s decided your current house no longer fits your needs, or a renter with a strong desire to become a homeowner, you may be hoping that waiting until next year could mean better market conditions to purchase a home.


To determine whether you should buy now or wait another year, you can ask yourself two simple questions:




Where will home prices be a year from now?


Where will mortgage rates be a year from now?




Let’s shed some light on the answers to both of these questions.


Where Will Home Prices Be a Year from Now?


Three major housing industry entities are projecting ongoing home price appreciation in 2022. Here are their forecasts:




Fannie Mae: 7.4


Freddie Mac: 7


Mortgage Bankers Association: 5.1




According to the National Association of Realtors (NAR), the median price of a home today is $353,900. Using an average of the three price projections above (6.5), a home that sold for $353,900 today would be valued at $376,904 at the end of next year. As a prospective buyer, you would therefore pay an additional $23,004 by waiting.


Where Will Mortgage Rates Be a Year from Now?


Today, Freddie Mac announced their 30-year fixed mortgage rate was at 3.1. However, most experts believe mortgage rates will rise as the economy recovers. Here are the forecasts for the fourth quarter of 2022 by the three major entities mentioned above:




Fannie Mae: 3.4


Freddie Mac: 3.7


Mortgage Bankers Association: 4




That averages out to 3.7 if you include all three forecasts. Any increase in mortgage rates will increase your costs.


What Does It Mean for You if Home Values and Mortgage Rates Increase?


If both variables increase, you’ll pay a lot more in mortgage payments each month. Let’s assume you purchase a $353,900 home today with a 30-year fixed-rate loan at 3.1 (the current rate from Freddie Mac) after making a 10 down payment. According to mortgagecalculator.net, your monthly mortgage payment would be approximately $1,360 (this does not include insurance, taxes, and other fees because those vary by location).


That same home one year from now could cost $376,904, and the mortgage rate could be 3.7 (based on the industry forecasts mentioned above). Your monthly mortgage payment after putting down 10, would be approximately $1,561.The difference in your monthly mortgage payment would be $201. That’s $2,412 more per year and $72,360 over the life of the loan.


Add to that the approximately $23,004 a house with a similar value would build in home equity this year due to home price appreciation, and the total net worth increase you could gain by buying this year is over $95,364 (the $72,360 mortgage savings plus the $23,004 potential gain in equity if you buy now).


Bottom Line


When asking if you should buy a home, you may think of the non-financial benefits of homeownership. When asking when to buy, the financial benefits make it clear that doing so now is much more advantageous than waiting until next year.


 ]]> </description>
    <pubDate>Mon, 13 Dec 2021 11:56:00 -0600</pubDate>
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    <guid>https://www.minneapolisurbanhomes.com/blog/tips-for-single-homebuyers-how-to-make-your-dream-a-reality.html</guid>
    <link>https://www.minneapolisurbanhomes.com/blog/tips-for-single-homebuyers-how-to-make-your-dream-a-reality.html</link>
        <author>richard@drgmpls.com (Richard Newman)</author>
        <title>Tips for Single Homebuyers: How To Make Your Dream a Reality</title>
    <description> <![CDATA[ 



 




If you’re living on your own and looking to buy a home, know that you can make your dream a reality with thoughtful planning and the right team of experts. Research from Freddie Mac shows 28 of all households (36.1 million) are sole-person, and that number is growing. Over the past 40 years, the number of sole-person households has nearly doubled, and that’s a trend that’s expected to continue. According to Freddie Mac:




“Our calculation suggests that there will be an additional 5 million sole-person households in the United States by the next decade. This means 42 of the household growth will be contributed by sole-person households, . . .”




If you fall into this category, here are three tips to help you achieve your homeownership goals.


1. Know Your Credit Score


When you buy a home on your own, you have to qualify for your loan based solely on your own finances and credit history. Investopedia says:




“. . . lenders will be looking at just one credit profile: yours. Needless to say, it has to be in great shape. It is always a good idea to review your credit report beforehand, and this is especially true of solo buyers.”




It’s important to find out your score so you know where it falls. If you’re not sure if it’s strong enough or where to focus your energy to improve it, meet with a professional for expert advice on your individual situation.


2. Explore Down Payment Options


Next, look into down payment programs so you can get a feel for what you’ll need to save to buy a home. Rob Chrane, CEO of Down Payment Resource, explains:




“Buyers should discuss their program options with their loan officer and real estate agent to make sure they choose the program best suited to their personal needs.”




In this step, lean on the pros to determine what you’re eligible for and what’s right for you.


3. Think About Your Future Home and Your Needs


You should also spend time thinking about what you want. What type of home do you picture yourself in? To answer that question, Quicken Loans shares this advice:




“Think about your lifestyle, what you want out of your home and your needs. Is being close to work important? Do you need a lot of yard space? Do you want an extra bedroom that you can transform into a home office? Condo or detached home? Lots of space for entertaining? It’s all up to you (and your budget).”




Again, a professional can help you balance what you want and how much you should spend on your monthly housing costs to determine what type of home is right for you.


While buying a home solo can feel like a big challenge, it doesn’t have to be. If you lean on the professionals, they can help you navigate these waters and make sure you’re able to take advantage of the great opportunities in today’s housing market (like low mortgage rates) to buy your dream home.


Bottom Line


The share of sole-person households is growing. If you’re looking to buy a home on your own, be confident that the dream is achievable. When you’re ready to begin your search, let’s connect so you have expert advice each step of the way.


Keeping Current Matters 12/2/21


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    <pubDate>Thu, 02 Dec 2021 17:33:00 -0600</pubDate>
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    <guid>https://www.minneapolisurbanhomes.com/blog/looking-for-a-place-to-call-home-consider-a-condominium.html</guid>
    <link>https://www.minneapolisurbanhomes.com/blog/looking-for-a-place-to-call-home-consider-a-condominium.html</link>
        <author>richard@drgmpls.com (Richard Newman)</author>
        <title>Looking for a Place To Call Home? Consider a Condominium.</title>
    <description> <![CDATA[ 



 




It’s no secret that one of the top stories in today’s real estate market is low housing supply and high buyer demand. If you’re a first-time buyer looking for a starter home or are someone who’s interested in downsizing, it may be worth considering a condominium (condo) as a worthwhile option.


In fact, trends indicate condos are gaining popularity among buyers. In the latest Existing Homes Sales Report from the National Association of Realtors (NAR), the data shows condo sales rising throughout the first half of this year (see graph below):There are a few reasons more and more people are opting to buy condos – the benefits of condo life can be quite compelling. Let’s explore the main perks to find out if a condo is a good fit for you.


Affordability


According to the NAR report, the median sales price of a condo is roughly $59,000 less than the median price of a single-family detached home (see graph below). This makes condos a great option for first-time homebuyers, those with limited down payment savings, or those looking to save money by downsizing.


Maintenance


A recent article from BankRate adds low maintenance as another perk of a condo lifestyle. Generally, exterior maintenance for condos is handled by a Homeowner’s Association (HOA). This can include things like landscaping and upholding a certain standard of cleanliness and condition for walkways, siding, and roofs. If you’re looking for a lower-maintenance option or see the appeal in being hands-off with upkeep, condos may be a good choice for you. With exterior maintenance off your plate, you’ll have more time for yourself and your hobbies.


Amenities


You can use that free time to enjoy some of the value-adding features your condo community may have, which could include dog parks, pools, a rentable clubhouse and grilling area for events, and more. If being able to host or attend community social outings is important to you, condos may give you more opportunities to enjoy the company of your neighbors. As a bonus, some condos even have gyms and on-site security teams.


Ultimately, the choice is yours. Condos are great options that often come with various features and benefits that may be important for your lifestyle. Fannie Mae sums up the appeal nicely:




“Condominiums, or condos, can be great alternatives to detached homes. City dwellers, singles, couples, seniors, and many others may find condos that suit their needs and budgets. Others may simply prefer low-maintenance living. Buyers who feel ‘priced out’ of homes may discover condos offer an affordable homeownership alternative.”




Bottom Line


If you’re looking for a home, it may be time to consider a condo as an option. Let’s connect to explore if one would be a good fit for your homeownership needs.


Keeping Current Matters 12/2/21


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    <pubDate>Thu, 02 Dec 2021 15:01:00 -0600</pubDate>
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    <guid>https://www.minneapolisurbanhomes.com/blog/home-is-where-the-heart-is-more-than-ever-this-year.html</guid>
    <link>https://www.minneapolisurbanhomes.com/blog/home-is-where-the-heart-is-more-than-ever-this-year.html</link>
        <author>richard@drgmpls.com (Richard Newman)</author>
        <title>Home Is Where the Heart Is More than Ever This Year</title>
    <description> <![CDATA[ 



There’s no denying the financial benefits of homeownership, but what’s often overlooked are the feelings of gratitude, security, pride, and comfort we get from owning a home. This year, those emotions are stronger than ever. We’ve lived through a time that has truly changed our needs and who we are, and as a result, homeownership has a whole new meaning for many of us.




According to the 2021 State of the American Homeowner report by Unison:




“Last year, staying home became a necessity and that caused many homeowners to have renewed gratitude for the roof over their head.”




As a nation, we continue to work through the challenges of a pandemic that’s pushed us all to new limits. Over the past year and a half, we’ve spent more time than ever at home: working, eating, schooling, exercising, and more. The world around us changed almost overnight, and our homes were redefined. Our needs shifted, and our shelters became a place that protected us on a whole new level. The same study from Unison notes:




91 of homeowners say they feel secure, stable, or successful owning a home


64 of American homeowners say living through a pandemic has made their home more important to them than ever


83 of homeowners say their home has kept them safe during the COVID-19 pandemic




It’s no surprise this study also reveals that homeowners are now more emotionally attached to their homes as well:As we’ve learned throughout this health crisis, homeownership can provide the safety and security we crave in a time of uncertainty. That sense of connection and emotional stability genuinely reaches beyond just the financial aspect of owning a home. As JD Esajian, President of CT Homes, LLC, says:




“Aside from the financial factors, there are several social benefits of homeownership and stable housing to consider. It has long been thought that buying a home contributes to a sense of accomplishment. Still, most individuals fail to realize that homeownership can benefit your mental health and the community around you.”




Whether you’re thinking of buying your first home, moving up to your dream home, or downsizing to something that better fits your changing lifestyle, take a moment to reflect on what Mark Fleming, Chief Economist at First American, notes:




“Buying a home is not just a financial decision. It's also a lifestyle decision.”




Bottom Line


If you’re considering buying a home, it’s not entirely about the dollars and cents. Don’t forget to weigh the non-financial benefits that may truly change your life when you need them most.


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