Most buyers believe they’re about to make a great investment
Last week, a report was released with information from an interesting survey which revealed how prepared home buyers are for the actual mortgage process.
The survey reported that:
- 94 percent of prospective buyers believe they are making a good investment decision if they buy a home.
- 66 percent of buyers reach out to real estate agents to help determine whether buying a certain home would be a good investment.
That’s great!
However, there is less certainty regarding the mortgage process.
Most buyers are overwhelmed and confused about the financing they need to buy
The majority of potential buyers are actually overwhelmed with the plethora of information available about the home financing process. Here are some interesting highlights from the report:
- Nearly 66% feel overwhelmed with the amount of information available
- 76% of those under the age of 30 feel overwhelmed
- 76% of first time buyers feel the same way
- 54% of those buyers who have previously owned also were overwhelmed
- 59% of buyers turn to mortgage bankers to help evaluate mortgage terms and comparing offers
- 49% of buyers turn to real estate agents to help evaluate mortgage terms and comparing offers
These numbers aren’t surprising to us. In fact, it’s surprising that how reluctant some people can be to ask questions or to admit that they’re confused.
The Bottom Line…
The purchasing of a home can be very stressful. There is too much paperwork. There are too many details to watch. You can’t keep track of it on your own. You need trusted professionals (lender and Realtor) working on your behalf.
We do this every day…you don’t! Let us help you understand your options so that you can make the best choice on financing when buying a home.
