The desire of city living is quietly fading among younger generations as more and more future homeowners are falling in love with suburban life.
As the real estate market continues its onward momentum, more than a decade after the unfortunate financial crisis, individuals with a little extra cash are eager to buy a piece of property with full yards and other features suitable for their families, according to recent reports.
Not only are people drawn to the larger homes, but the nearby parks, good schools and reasonable commute times are creating a competitive environment for new homebuyers.
Trends also indicate that millennials, one of the largest generations who are buying homes, will only heat things up as they look to settle down and grow their families in the suburbs.
So, the suburbia dream is alive and well for many soon-to-be homeowners, especially those buying for the first-time.
An FHA loan, which is a federally backed program, provides flexibility for new homebuyers to purchase the home they desire, regardless of the market climate. These loans have more lenient borrowing terms and can require modest-to-low down payment requirements and credit scores.
Buying a home can be challenging, as factors outside the buyer’s realm can cause some pause and discouragement. Don’t allow market conditions, such as those within suburban communities, hold you back from pursuing your family’s dream of owning a home with a yard, white picket fence and everything else that makes suburban life sweet.
Please contact me today to learn about loan programs that can help you meet your financial goals today and for years to come.