Milestone Germantown MD | 80% of Renters Believe Homeownership is a Part of Their American Dream

 

At a local level in Germantown Maryland, buyer confidence remains strong with some changes that varies on the price level and what type of houses they are looking for.   

Particularly in and around Milestone 20876 zip code. The addition of new store and business entities in the area makes Milestone one of the most busiest areas in Germantown.    

As you are aware, for most families, choosing a new home is the biggest financial decision they will ever make and for that reason, there are many complicated decisions involved in choosing your new home.    

Today I would like to talk to you about  80% of Renters Believe Homeownership is a Part of Their American Dream

 

According to the latest Aspiring Home Buyers Profile by the National Association of Realtors (NAR), 82% of surveyed renters desire to own a home in the future, with 80% believing homeownership is a big part of achieving their American Dream. 

The profile went on to state that 50% of millennials believe that their rent will increase, with 20% believing that an increase in rent will be the catalyst that pushes them to consider buying a home vs. renewing their lease.

 

So, what is holding renters back?

 

What would make renters take the plunge? 

 

“Housing demand in 2018 will be fueled by more millennials finally deciding to marry and have kids and the expectations that solid job growth and the strengthening economy will push incomes higher.”

Yun goes on to warn that,

“However, with prices and mortgage rates also expected to increase, affordability pressures will persist. That is why it is critical for much of the country to start seeing a significant hike in new and existing housing supply. Otherwise, many would-be first-time buyers will be forced to continue renting and not reach their dream of being a homeowner.”

 

Bottom Line

If you are one of the many homeowners whose houses no longer fit their needs and are looking to move up to your dream home, now is a great time to list your starter home! First-time buyers are out in force looking to achieve their American Dream.

 

Source.. KCM Fernando Herboso Blog

 

To protect your interests and assure that you make the best possible decisions,  

it's important that you have a knowledgeable agent on your side who is an expert in the local real estate market.  

We are dedicated to keeping you on top of our local market. Rest assured that we will provide you with a well-informed,  

and the most updated strategic view for your home purchase in Germantown Maryland  

To reach us, please call 301-246-0001 

or send us an email  info@ReallyNiceHomes.com  

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