• Home
    • Buying
    • Think Owning A Home Is Out Of Your Reach? Think Again.

    Think Owning A Home Is Out Of Your Reach? Think Again.

    In the current economic climate, a lot of renters think homeownership is out of their reach. But if you think buying a home is out of your reach, you might want to think again.

    According to the National Association of Realtors’ Realtors Confidence® Index, first-time buyers accounted for 29% of all home sales from late 2016 to late 2017. That’s nearly one-third of all home sales! And there’s a reason so many people are making the transition from renting to owning…

    Rents are rising. According to a recent Zillow study, the median US rent is taking up 29.1% of household income, and costing tenants a whopping $2,000 more per year.

    Data Source: Zillow

    As renting becomes less economical, more and more tenants are exploring homeownership. And thanks to low down payment mortgage options (61% of first-time buyers made a down payment between 0 and 6%, according to the National Association of Realtors’ Realtors Confidence® Index), homeownership is more accessible for first-time buyers than ever, making it the ideal time to make a move.

    The Takeaway

    If you’re currently throwing a large chunk of your paycheck towards your rent, now’s the time to make a move and buy your first home. Not only is homeownership one of the best investments you can make in your future, but thanks to rising rents, you may also find yourself saving money in the short-term.

    Trackback from your site.

    Leave a Reply

    About our blog

    Our agents write often to give you the latest insights on owning a home or property in the Central Virginia area.


    I have used April Lane for 3 home purchases and two sales over the past five years. There is no other agent that I would trust to help me in this way. She is accomplished at getting a sale quickly! She sold both of our homes within two weeks of listing them and we got top dollar for them. She is willing to go to bat for you and is as honest as the day is long. April knows real estate law inside and out. If you are looking for the best agent in Richmond look no further than April. She has been …
    Amy A. (Buyer & Seller)