Should Baby Boomers Buy or Rent After Selling Their Houses?

Written by Florida VA Loan Syndicated User on September 14, 2023. Posted in Baby Boomers, Buying Myths, Demographics, Florida VA Condo Loan, Florida VA Loan, Florida VA Loan Rates, For Buyers, Rent vs. Buy.

Are you a baby boomer who’s lived in your current house for a long time and you’re ready for a change? If you’re thinking about selling your house, you have a lot to consider. Will you move to a different state or stay nearby? Is it time to downsize or do you want more space to accommodate your loved ones? But maybe the biggest consideration boils down to this – will you buy your next home or choose to rent instead?That decision ultimately depends on your current situation and your future plans. Here are two important factors to help you decide what’s right for you.Expect Rents to Keep Going...

Planning to Retire? Your Equity Can Help You Make a Move

Written by Florida VA Loan Syndicated User on September 12, 2023. Posted in Demographics, Florida VA Condo Loan, Florida VA Loan, Florida VA Loan Rates, For Sellers, Selling Myths.

Reaching retirement is a significant milestone in life, bringing with it a lot of change and new opportunities. As the door to this exciting chapter opens, one thing you may be considering is selling your house and finding a home better suited for your evolving needs.Fortunately, you may be in a better position to make a move than you realize. Here are a few reasons why.Consider How Long You’ve Been in Your HomeFrom 1985 to 2009, the average length of time homeowners stayed in their homes was roughly six years. But according to the National Association of Realtors (NAR), that number is higher...

Buyer Traffic Is Still Stronger than the Norm

Written by Florida VA Loan Syndicated User on August 31, 2023. Posted in Demographics, Florida VA Condo Loan, Florida VA Loan, Florida VA Loan Rates, For Sellers, Housing Market Updates, Selling Myths.

Are you putting off selling your house because you’re worried no one’s buying because of where mortgage rates are? If so, know this: the latest data shows plenty of buyers are still out there, and they’re purchasing homes today. Here’s the data to prove it.The ShowingTime Showing Index is a measure of buyers touring homes. The graph below uses the latest numbers available and compares them to the same month in the last normal years to show just how active today’s buyers still are:As you can see, when June 2023 numbers are stacked alongside what’s typical for the housing market at this time of...

Why You May Still Want To Sell Your House After All

Written by Florida VA Loan Syndicated User on August 30, 2023. Posted in Demographics, Florida VA Condo Loan, Florida VA Loan, Florida VA Loan Rates, For Sellers, Selling Myths.

Even though you may feel reluctant to sell your house because you don’t want to take on a mortgage rate that’s higher than the one you have now, there’s more to consider. While the financial side of things does matter, your personal needs may actually matter just as much. As an article from Bankrate says:“Deciding whether it’s the right time to sell your home is a very personal decision. There are numerous important questions to consider, both financial and lifestyle-based, before putting your home on the market.”So, ask yourself this: why did I want to move in the first place?Chances are your...

Gen Z: The Next Generation Is Making Moves in the Housing Market

Written by Florida VA Loan Syndicated User on August 29, 2023. Posted in Buying Myths, Demographics, First Time Home Buyers, Florida VA Condo Loan, Florida VA Loan, Florida VA Loan Rates, For Buyers.

Generation Z (Gen Z) is eager to put down their own roots and achieve financial independence. As a result, they’re turning to homeownership. According to the latest Home Buyers and Sellers Generational Trends Report from the National Association of Realtors (NAR), 30% of Gen Z buyers transitioned straight from living under their parents’ roofs to owning their own homes.If you’re a member of this generation, and you’re interested in pursuing your own dream of homeownership, here’s some information you may find helpful on why and where your peers are buying.The Reasons Gen Z Want To Become...

How Homeowners Win When They Downsize

Written by Florida VA Loan Syndicated User on May 5, 2023. Posted in Demographics, Florida VA Condo Loan, Florida VA Loan, Florida VA Loan Rates, For Buyers, For Sellers.

Downsizing has long been a popular option when homeowners reach retirement age. But there are plenty of other life changes that could make downsizing worthwhile. Homeowners who have experienced a change in their lives or no longer feel like their house fits their needs may benefit from downsizing too. U.S. News explains:“Downsizing is somewhat common among older people and retirees who no longer have children living at home. But these days, younger people are also looking to downsize to save money on housing . . .”And when inflation has made most things significantly more expensive, saving money...

5 Reasons Millennials Are Buying Homes

Written by Florida VA Loan Syndicated User on April 19, 2023. Posted in Demographics, First Time Home Buyers, Florida VA Condo Loan, Florida VA Loan, Florida VA Loan Rates, For Buyers, Millennials.

In the United States, there are over 72 million millennials. If you’re part of that generation and have thought about buying a home, you aren’t alone. According to Zonda, 98% of millennials want to become a homeowner at some point if they aren’t already. But why? There are plenty of reasons you may choose to become a homeowner. Here’s why other millennials have made that decision (see graph below):This graph shows why millennials are buying homes according to Zonda’s 6th annual millennial survey. The top reasons include building equity, a change in life stage, wanting stability, rising home...

How Homeownership Is Life Changing for Many Women

Written by Florida VA Loan Syndicated User on March 29, 2023. Posted in Demographics, First Time Home Buyers, Florida VA Condo Loan, Florida VA Loan, Florida VA Loan Rates, For Buyers.

Throughout Women’s History Month, we reflect on the impact women have in our lives, and that includes impact on the housing market. In fact, since at least 1981, single women have bought more homes than single men each year, and they make up 17% of all households.Why Is Homeownership So Important to Women?The rise in women pursuing homeownership hasn’t just made an impact on the housing market. It’s also been an asset for those buyers and their households. That’s because homeownership has many benefits, both financial and personal.On the financial side, housing proves to be the key to building...

Could a Multigenerational Home Be the Right Fit for You?

Written by Florida VA Loan Syndicated User on March 8, 2023. Posted in Baby Boomers, Demographics, First Time Home Buyers, Florida VA Condo Loan, Florida VA Loan, Florida VA Loan Rates, For Buyers, Millennials, Move-Up Buyers.

During the pandemic, many of us reexamined the meaning of home for ourselves and our loved ones. Today, that can be seen in the recent rise in multigenerational households. According to Jessica Lautz, Deputy Chief Economist and Vice President of Economic Research at the National Association of Realtors (NAR):“Multi-generational buying may be a home where families live in the same home with elderly parents, children who have boomeranged back home, or other extended family members. While this is not a new concept of living, it is one which has gained recent popularity.”And citing data from Pew...

A Smaller Home Could Be Your Best Option

Written by Florida VA Loan Syndicated User on February 23, 2023. Posted in Baby Boomers, Demographics, Florida VA Condo Loan, Florida VA Loan, Florida VA Loan Rates, For Buyers, For Sellers.

Many people are reaching the point in their lives when they need to decide where they want to live when they retire. If you’re a homeowner approaching this stage, you have several options to explore. Jessica Lautz, Deputy Chief Economist and Vice President of Research at the National Association of Realtors (NAR), says:

Category: Demographics