Home buying is always a popular topic. There is a lot to be learned about the process, and most people will spend a period of time looking into the pros and cons of owning a home before they venture out to begin looking. About 24% of people who make the decision to buy a house base their decision on aspirations to own a home of their own. Another 17% of home buyers choose to buy because of either a job relocation or for a better position for their family.
According to statistics, in the U.S., there are approximately two million active real estate agents. A licensed realtor can be a wealth of information and knowledge to a buyer or seller, especially those buying or selling a home for the first time. Realtors are trained in all aspects of residential and commercial sales, and are adept at guiding the client through the purchasing or selling process, which can sometimes be a bit daunting. 98% of buyers and sellers have found real estate agents to be extremely useful to them during the course of their real estate transactions. The percentage of clients purchasing a new home through a real estate agent went up from 69% in 2001 to 88% in 2014. Studies also show that in 2014 the average age of people buying their first home was 31, and the average age of those buying or selling who have bought or sold a home before was about 53. In 2014, as well, 33% of those purchasing a home were buying for the first time.
Real estate presents a broad expanse of opportunities. When clients are looking to buy a home, the choices are numerous. Some buyers prefer the idea of a single family home, with which comes the responsibility of owning and maintaining the piece of land that surrounds the home. Others would rather live in a condominium style community, where much of the maintenance will be included in a monthly fee.
Apartment homes and co-ops are also a popular choice among people who prefer not to have the added responsibility of lawn and yard care. Many people will downsize from a larger single family home to a condo or a co-op as their children grow up and move out. On the flip side of that coin, younger couples who want to start a family will often move from a condo or a small single family home into a larger one with more space in order to accommodate their growing number of children. In the United States there are at present about 115 million homes of different types which are already owned and occupied. In a study done by the Forbes corporation, population growth is such now that 1.5 million new homes will have to be constructed every year in order to provide needed housing.