In a recently released study, Fannie Mae states the consumer attitudes continue to be favorable about homeownership, especially with younger generations, ages 18 to 34. When comparing the financial and lifestyle benefits, slightly over half of them (71 percent) think that owning makes more sense than renting. Protection against rent increases was mentioned.
Ninety percent of aspiring homeowners expect to purchase a home someday and a little over half of them think they will do it in five years.
Homeowners with homes for sale in Northern Virginia are far more likely than renters to be “very positive” about their housing experience at a ratio of 71 to 34 percent. Even the “somewhat positive” group for homeowners is lower with the negative groups being very low. I have identified some of the benefits from the Fannie Mae study to owning a home below:
• Having control over your living space and what you can do with it.
• Having a sense of security and privacy.
• Having a good place to raise your children or provide for your family.
• Having the best investment plan.
• Living in a nicer home than a rental.
• Building up wealth. As you pay down the mortgage you build equity.
• Saving for retirement. The sale of a home after you retire can help fund a retirement plan.
• Living in a place where you and your family feel safe.
• Feeling that you are engaged in your community.
At no cost or obligation to you, I can refer you to a trusted mortgage professional who will help you get pre-qualified for a mortgage and relieve your doubts about buying a home. Contact me at Thierry@ThierryRoche.com.
After you have pre-qualified, feel free to view homes for sale in Northern Virginia within your price range and let me know which ones you would like to see.