Homeownership Trends that Should Affect Your Purchase

By on November 5, 2019
Homeownership

Trends for homeownership come and go. As women over 50, it was most likely the norm for you to own your own home in your early 20’s. Nowadays, you’re considered to be a unicorn if you already have a home at that age.

Things come and go and they definitely affect the process of buying a home. At the moment, these are the trends that will affect you if you do decide to purchase a home.

  1. Renting VS. Buying

It’s been a growing trend over the years for younger adults to rent a home instead of buying it. This is due to the huge financial cost and that it’s becoming rare for families to stay in the same neighborhood for the rest of their lives.

Because of this, it doesn’t make sense to lock oneself down to a lifetime mortgage. Many are moving states constantly so we are left with a few homes that are bought and more that are rented out.

Depending on where you plan to buy a home, let’s say a metropolitan city, it’s impossible to buy a home, especially at a central district; renting alone can cost you an arm and a leg. If you really want to buy a home and pay a reasonable price, you are better off going someplace where it’s common for people to buy homes instead of renting them.

  1. Technology Calls the Shots

Back then, buying a home was simply just looking at the newspaper for open houses or visiting the real estate agent your friend referred to you. Nowadays, it’s much like dating. It’s a long process but it brings you better prospects. Thanks to technology, we’re able to look at hundreds of listings with ease. There are even apps now that match you with a real estate agent.

A lot of factors go into home buying since it’s a very large investment. Taking advantage of the technology we have available today and you’ll find your dream home faster than your grandparents ever did!

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  1. Furnished Isn’t Always Good

Some homes already come furnished with appliances and furniture. While this is nice, it can backfire with your home warranty. For example, you may not be eligible for more comprehensive coverage because most of your appliances are more than a decade old.

If you do plan to buy a furnished house, make sure to check with the owner about the condition of the items in the home. Inquire about the transfer of the warranty and don’t forget to ask for their local repairmen’s contact information.

  1. Minimalism is In

Don’t get pressured into buying a bigger house than you can afford. Minimalism is very in right now and it can save you a lot of money when you only have little space to furnish. This doesn’t mean you should compromise comfort. You can definitely buy a dream rug from Ikea. But let’s just say gone are the days where you needed to overstuff your home with gaudy furniture and decor. A spacious, clean, airy room is much better.

  1. Greenthumb It

With technology becoming more ubiquitous, we need to be closer to nature more than ever. And what better way to do that than be around plants. Houseplants are a great way to spruce up your home. In fact, many homeowners go as far as creating a green jungle in their homes.

If you like nature is well, consider getting a home that is not just conducive to indoor plants but one with a large yard as well. Your pets (and your mental health!) will thank you for it. With enough space to relax, unwind, and grow your own plants and food, going home from work will always be a treat!

 What are your thoughts about these trends? Share your thoughts in the comments.

 

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Homeownership Trends that Should Affect Your Purchase