Should You Rent Or Buy A Home?

Do you want to rent a home? How about selling a home? The field of real estate is a vast and complicated one, serving different needs one day and creating new ones the next. A person renting a home may feel confident in the process, while another buying a home may want the additional aid of a real estate agent. Whichever side of the fence you’ve ended up on, you’ll want to take a quick refresher course on the market before taking the plunge.

Did You Know?

The average buyer looked at an average of 10 homes. Likewise, most renters or buyers will look for at least 10 weeks before committing to a final decision. Most recent buyers who sought out homes were doing so to avoid renovations or problems with plumbing and electricity. Buyers who had already purchased previously owned homes frequently sought out homes with better price ranges.

Renting A Home

Although American demographics are changing, more and more people are wanting to rent a home. Some choose to rent a home to support a new family, while others crave the independence and expanded living space an apartment or condo might not provide. Consumer use of online search results have reached an all-time high of 92% for home-related searches, cresting to nearly 60% on mobile devices used on the weekend.

Buying A Home

Did you know 32% of people looking to buy new homes are actually first-time buyers? For 42% of recent buyers, the first step they prefer to take in the home buying process is to look at online properties for sale — another 14% instead chose to contact a real estate agent for further assistance. Another study saw 78% of recent buyers finding their real estate agent to be a ‘very useful’ information source. Overall, online websites were considered a must-have in the browsing process and key to providing a more satisfying outcome.

Selling A Home

To sell a home is to sell an opportunity to an individual or family. With so many different homes and prices on the market, buyers are becoming increasingly savvy as to what can help them and, likewise, waste their time. The Internet has played a major role in this shift and studies have shown homes with better indoor and outdoor photos do better than those who have little to none. Studies have shown a median of 14 miles between the homes that recent buyers purchased and the homes and communities they moved from.

Finding A Home

When it comes down to it, knowledge is power. Whether you’re trying to rent, sell or buy, a little information will help significantly in the process. Renting homes remains noticeably popular, though buying homes has enough economic pull to warrant many moving into the real estate business to leave their mark. March of 2016 saw the average home sale price in the United States exceeding $186,000. Overall? First-time buyers have comprised a near-majority of the housing market. The future has never looked better for homes.