The 2015 National Housing Survey Results Have Been Released
As a charter member of NeighborWorks America, the HomeOwnership Center of Greater Dayton has access to many tools, surveys, and sources of information that are all designed to guide homebuyers down the smart path to homeownership. One powerful source of information is the 2015 National Housing Survey. What can this year’s survey tell us about current trends in homebuying? Here are some highlights:
Student debt is having an impact on the ability of many people to buy a home of their own.
Is your student debt load getting the way of buying your first home? If so, you are not alone as 28% of Americans know someone that has delayed the purchase of a home because of student debt. Additionally, 57% of respondents with student debt indicate that their student loans have become an obstacle to buying a home.
In spite of the difficulties faced when buying a home, most adults don’t use a housing counselor.
Even though 70% of adults agree that the homebuying process is complicated, two thirds of them don’t consider using a housing counselor to guide them through the process. Indeed, 42% rely on friends and family to learn about buying a home. Unfortunately, the options available to new homebuyers have changed significantly and turning to friends and family may not give you the information you need to buy your home with confidence.
Many people have little to no information on down payment assistance programs.
In the Dayton area, down payment assistance programs are available for the cities of Dayton and Kettering, as well as Montgomery County. If you are a first-time homebuyer, you are doing yourself a disservice by not looking into the programs and determining if you qualify. You can start by reading about the programs here.
To read the complete results of the third annual national housing survey, visit NeighborWorks America’s web page.
Not everything is doom and gloom. The survey shows that owning their own home is still a goal for most adults. Your smartest first step just might be contacting a non-profit partner, like the HomeOwnership Center of Greater Dayton. Our experienced advisors will guide you every step of the way. Their experience and advice can prevent you from making common mistakes and empower you to make solid homebuying decisions.Find out more by calling 937.853.1600 or visiting our Homebuyers page.