Looking for a Home Like Their Parents
It is very important for first-time homebuyers to remember that most people do not buy their dream home right out of the gate. Your parents or other family members and friends likely started out by purchasing a smaller house in the Greater Austin area. As they balanced what they wanted with what they could afford, their finances played a large role in determining what they purchased. As time went on, they paid down their mortgage and gained more equity in their home through appreciation. Only then did they trade up to a larger, nicer home in the Austin area. With that home, they had to worry less about how much the home cost and could focus more on finding what they really wanted.
As a first-time homebuyer, it may be very difficult to lower your expectations a bit. Do not let those expectations keep you from missing out on a great first home and keep you from taking advantage of the still very low interest rates available! When you have built your finances and some equity in your home, you will then have the perfect opportunity to move up to your dream home!
Buying a home for the first time is a very exciting time – do not let unrealistic expectations kill that joy! If you are considering purchasing a home or would like to learn about your options drop me a note. You can also check out my other blog post – What You NEED to Know Before You Buy a Home.
Own a home and thinking about moving up to your dream home? Download the FREE Guide >>> Timing the Market in 2014
The real estate market for the Austin area has shown consecutive growth month after month for almost 2 years now. While it could a great time for any home owner to take advantage of the rise in home values, I think that this time could be a special opportunity for people who own homes that fit the profile and budget for first-time home-buyers. Let me explain…
The huge influx of people to Austin, rising rental rates and low mortgage rates have all contributed to a seemingly ever-rising demand for homes for first-time home-buyers. That demand has caused home prices for those first-time home-buyers to rise as well, increasing the possible equity for home sellers if they chose to sell in this market. Below is a report on the active number of listings on the market in Austin, Round Rock, Cedar Park & Pflugerville for between $130,000-$180,000, a common price point for many first-time home-buyers. As you can see from the graphic, the number of home available to would-be buyers has recently increased, but is still well below the levels we saw two years ago.
If you own a home in near this price range and think your home might be a great home for a first-time home-buyer, now could be a great opportunity for you to take advantage of your increased equity and move-up to a larger home and also take advantage of the super-low interest rates yourself. If you are considering selling your home, learn how I can help you sell your home for top dollar and deliver a high net to you as well as help you find a new home to move into. Drop me a note if you are interested in finding out the value of your home.
Interested in selling your home and saving some money on commissions? Ask me about my “Move Out, Move Up” program.
The Kyle Pfaffe Real Estate Team