One of the most important services we do as Realtors is to set real expectations for our Buyer’s. Unfortunately the process isn’t as simple as finding the home of your dreams. We actually have had homeowners who equated the process with “Hell on Earth”. Apparently they were not alone. I ran across this article in DSNews that cites many others who pretty much feel the same way!
Homeowners and the Buying Experience
If the American Dream is to own a home, it seems the American Nightmare might be the actual buying process. A new study was conducted by ValueInsured. It cites 59 percent of American homeowners describe their buying experiences in terms like “having a root canal” and other colorful (and painful) language.
While a third of those surveyed told ValueInsured that the buying experience was similar to “a bumpy roller coaster ride,” another quarter compared the process to dentistry, to watching paint dry, and simply as “a defeat.”
Gen-Xers and millennials appear to have it worse than older homeowners. According to the report, 72 percent of all Gen-X homeowners described their most recent home buying experience negatively while 69 percent of millennials did the same.
ValueInsured’s numbers mesh with a report the firm did last year on homebuyer regret, which found that 51 percent of all homeowners had regrets about the process they went about to buy their home.
However, positive feedback among millennials was forthcoming. millennials, with 15 percent, were the most significant segment among all age groups to describe the experience as similar to “winning the golden ticket.”
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Are you curious about what to expect and decide if you are ready for this step?
Contact us and we will be glad to provide you a list of multiple Lenders, Closing Attorney’s and walk you through what to expect. The process isn’t not going to be fun or easy. In the end – it will be so worth the it. You will also have a part of the American Dream!