In December of last year, the Open Listings team took a detailed look at where millennials in the United States currently stand with their homebuying plans. And, contrary to many headlines, we found that millennials are actually already buying homes. In fact, 44% of millennials -- largely based outside of major urban areas -- noted that they already own a home. Over the next couple of years, industry leaders expect one subset of millennials to drive the homeownership rate up
Whether you’ve just accepted a job offer or you’re just starting a new adventure, relocating to a new city is exciting. That said, house hunting from afar can be a nerve-wrecking process. After all, buying a home is a big investment, and the stakes become exponentially higher when you’re unable to see what you’re buying with your own eyes. However, with a little planning, it’s absolutely possible to find a home remotely. Here are four
Many buyers, especially first-timers, worry about how to budget to buy a house -- and it’s not hard to see why. Becoming a homeowner is a huge financial commitment, and it only makes sense that you’d want to feel fully prepared before taking the plunge. Luckily, with a little planning and foresight, you can easily make that happen. Read on below to learn more about how to appropriately budget to make your homebuying dreams become a reality and
Buying a home in San Francisco is no easy feat, even if it's your fourteenth time. So, when Patrick and his husband Akshay embarked on their latest house hunt -- and first one as a couple -- they knew it would take a lot of resolve to get an offer accepted in the Bay Area. "It's unlike any other real estate market" With such limited inventory, finding a home in San Francisco can prove to be a challenge.
Once you're serious about buying, deciding how much to offer on a house becomes one of the most pressing concerns. It’s hard to find the balance between trying to get a fair deal, writing an offer below asking, and actually getting the house. Luckily though, we’re here to help you sort this issue out. We’ll explain when a low-ball offer is appropriate, how to determine the right sale price, plus a few alternative ways to save. With
This guest post is from Onerent, a state of the art leasing & property management service. Given the new proposed United States tax plan from the Trump administration, investing in real estate has some potential implications for a new investor. Most consider the changes extremely beneficial to first-time real estate investors in particular. To cover the basics first, the existing tax structure allows for real estate investors to write-off all the expenses of owning and running a rental as those
A lot of buyers, especially first-timers, worry about whether or not they’re going about their home search the right way. On the one hand, buyers fret that if they find their "dream home" too early, they might be missing out on something better. But, on the other, if the process takes a while, they worry that they’ll never find a home that works for them. The FOMO is real. Keep reading to find out if you’
You submitted an offer and it was accepted. Everything seems to be going your way, except for one major detail: you’re not sure if this house is actually the right one for you. Sound familiar? It happens. Buying a home is a big deal. Lots of buyers get cold feet when they go to buy a home, and some do end up walking away to explore other options. If you’re unsure of the next steps to take, this
Buying and selling at the same time takes a little more foresight and planning than a one-way sale, but it's totally doable. If you're looking to sell your existing home and buy a new one, here are a few ways to make this arrangement work: Buying first, then selling Sometimes you fall in love and find your next home early on in your house hunt. But when you still have a home to sell, buying can be a little trickier.
Buying a house single? You're not alone. Today, more people are getting into the property ownership game whether or not they're coupled up. While this prospect is exciting, buying a house on your own can also feel a little scary. But, if you’ve been thinking of taking the plunge, we've got your back. Below is some of our best advice for tackling this journey so you're able to jump in to the real estate market with plenty of confidence:
TL;DR Yes. In this competitive homebuying market, getting pre-approved for a mortgage is truly the first step that you should take in buying a home. However, first-time homebuyers are often intimidated by amount of legwork that it takes to get approved and end up shuttling this process to the end of their to-do list, which can be a costly mistake. So, if you’re one of those would-be buyers, this post is for you. We’re taking a closer
These days, we’re seeing an interesting trend among first-time buyers, where more and more are choosing to purchase their second homes or weekend getaway vacation properties, before ever putting down money towards a primary residence. For some, it’s opening up opportunities for homeownership in places where that dream can feel impossible. If you’re interested in learning more about how this scenario works and if it could be the right move for you, keep reading. Why the push
Getting a healthy ROI (return on investment) for home improvements is a big concern among homeowners, and rightly so. Since home improvements are part emotional and financial, not only are you looking to improve your current quality of life, you're also hoping that your investment will pay off in the form of higher resale values down the road. To that end, Remodeling Magazine releases a Cost vs. Value Report each year that takes a look at the national averages for
Housing price increases now outpace the high salaries of tech engineers in San Francisco and even more-so in Los Angeles Four years ago, we hit a tipping point when for the first time since the 1920’s, population growth in cities outpaced growth outside of cities. While the tech industry has been a boom for the national economy and jobs since its recovery from the dotcom bubble, it has also been a driver of today’s urban housing crisis. More
Many first-time homebuyers, especially in competitive markets, end up in starter homes as a part of their first foray into the real estate market. The idea of a "starter home" goes back to World War II. After veterans completed their service, they returned home and took advantage of a provision in the G.I. Bill that guaranteed them affordable mortgages. The increased demand caused a housing boom, specifically for smaller, low-cost homes where the veterans could start their