Category: First Time Buyers

The Evolving Landscape of Housing: Challenges, Solutions, and the Resilience of Community

Baby Boomers, First Time Buyers, Multi-Generational Residences, Rent vs BuyChrysti Tovani
From Rental Roadblocks to Multi-generational Residences: Navigating Modern Housing Dilemmas An in-depth exploration of today’s housing challenges, examining the pain points renters face, the socio-cultural divide between homeowners and renters, and the emerging trend of multi-generational living. Highlighting potential solutions and initiatives that seek to make homeownership more attainable for today’s young adults. 10 Pain Points Renters Face in Today’s Housing Landscape Every life decision comes with unique challenges, and choosing to rent a home is no exception. While renting provides flexibility and freedom, it also comes with a host of pain points that renters often encounter. 1. The Sky-High…

Your Comprehensive Guide to Buying a Condo: Tips for a Smart Purchase

Baby Boomers, First Time Buyers, For BuyersChrysti Tovani
Navigating the Path to Your Dream Condo with Confidence Are you considering the exciting journey of buying a condominium (condo)? Condos offer a unique blend of convenience, amenities, and community living, but making an informed purchase requires careful consideration. Whether you’re a first-time homebuyer or looking to downsize, this guide will walk you through essential tips for a smart condo purchase. 1. Set a Realistic Budget:  Before diving into the condo market, determine your budget. Consider the purchase price and additional costs like property taxes, insurance, and monthly homeowner association (HOA) fees. Ensuring that your dream condo fits within your…

How To Get the Best Deal With a New Home Builder

Buying Myths, First Time Buyers, For Buyers, Move Up Buyers, New ConstructionChrysti Tovani
Looking at new model homes can be fun and exciting. There is so much possibility; unlike purchasing a home that someone has already lived in, you get to buy a fresh new home that can be customized for you. There are some differences between buying from a homeowner and a builder that are important to note. When buying an existing home from a homeowner, you might be able to negotiate on price. However, a builder’s top priority is to build homes that sell for a set price and move on to the next project. For them to finance the development,…

Why A Normal Market is Just What We Need

First Time Buyers, For Buyers, Housing Market Updates, Move Up Buyers, Rent vs BuyChrysti Tovani
The housing market has been hot for a while now. Homes have been flying off the shelves as fast as they have been listed. Buyers have been competing in bidding wars just to find a home to buy, let alone find their dream home. This ‘seller’s market’ has driven home prices to new heights. Home price appreciation averaged over 6% across the country. However, home price growth has recently started to cool down. The latest report from CoreLogic shows that home prices have only risen by 4.7% over the last 12 months. Many buyers and sellers planning to enter the…

Is Student Loan Debt A Threat to Homeownership? No!

Down Payments, First Time Buyers, For Buyers, MillennialsChrysti Tovani
Over the course of the last thirty years, a shift has happened. An entire generation has been raised to believe that a college education is their key to unlocking opportunities that were not available to their parent’s or grandparent’s generations. Due to this, student loan debt has soared to $1.5 trillion and represents the largest category of debt, surpassing credit card and auto loan debt in 2010 and never looking back. As more and more Americans continue their education amongst rising tuition costs, this number will no doubt increase. Many housing experts have blamed student loans for a drop in…

Will Your Side Hustle Buy You a House This Year?

Buying Myths, Down Payments, First Time Buyers, For Buyers, MillennialsChrysti Tovani
The top concern for most first-time home buyers is their ability to save for a down payment. According to a new survey, 36% of millennials took on a second job to make their dreams of homeownership a reality in 2017.  Among millennials with incomes over $100,000 a year, the top ways to come up with the necessary funds were to sell stocks (20%) or to sell cryptocurrency (16%). The most popular method of savings was the most traditional; 60% of those saving for a down payment used a percentage of their paychecks to achieve their goal, while 75% of those…

Females Are Making It a Priority to Invest in Real Estate!

First Time Buyers, For Buyers, Housing Market Updates, MillennialsChrysti Tovani
Everyone wants a place to call home; a place that gives them a sense of security. We are currently seeing major interest from females who want to achieve this dream, and the numbers are proving it! In 2018, for the second year in a row, single female buyers accounted for 18% of all buyers. In 2017, 60% of millennial women listed as the primary borrowers on mortgages were single. According to the 2018 Home Buyer and Seller Generational Trends Report by the National Association of Realtors, one in five homebuyers in the U.S. were single females (most of them part…

The Cost of Renting vs. Buying a Home [INFOGRAPHIC]

Buying Myths, First Time Buyers, For Buyers, Infographics, Rent vs BuyChrysti Tovani
Some Highlights: Historically, the choice between renting or buying a home has been a tough decision. Looking at the percentage of income needed to rent a median-priced home today (28.4%) vs. the percentage needed to buy a median-priced home (17.5%), the choice becomes obvious. Every market is different. Before you renew your lease again, find out if you can put your housing costs to work by buying this year! Source: Keeping Current Matters Chrysti TovaniChrysti Tovani is a REALTOR® based in Fair Oaks, CA, serving the greater Sacramento area—including Orangevale, Carmichael, and nearby neighborhoods. She’s also a multimedia journalist and…

Wage Increases Make Home Buying More Affordable

First Time Buyers, For Buyers, Move Up BuyersChrysti Tovani
Everyone knows that housing affordability has been negatively impacted by rising prices and increasing mortgage rates, but there is another piece to the affordability equation – wages. How much a family earns obviously impacts how easy or difficult it is for them to afford to own a home. Because of an improving economy, wages are finally beginning to increase – and that dramatically affects home affordability. According to the National Association of Realtors’ (NAR) September 2018 Housing Affordability Index, wages have increased in every region of the country: After applying current salaries, home prices, and mortgage rates to their Home…

VA Home Loans by the Numbers [INFOGRAPHIC]

First Time Buyers, For Buyers, Infographics, Move Up BuyersChrysti Tovani
Some Highlights: The Veterans Administration (VA) Home Loan is a benefit that is available to more than 22 million veterans & 2 million active duty service members which helps them achieve their dreams of homeownership. In 2017, $189 billion was loaned to veterans and their families through the program. VA Purchase Loans are on the rise in 46 out of 50 states and Washington, DC. Source: Keeping Current Matters Chrysti TovaniChrysti Tovani is a REALTOR® based in Fair Oaks, CA, serving the greater Sacramento area—including Orangevale, Carmichael, and nearby neighborhoods. She’s also a multimedia journalist and founder of I Love…

75% of Renters Have Been Misinformed

Buying Myths, First Time Buyers, For Buyers, Rent vs BuyChrysti Tovani
Recently, multiple headlines have been written asserting that homeownership is less affordable today than at any other time in the last decade. Though the headlines are accurate, they lack context and lead too many Americans to believe that they can’t partake in a major part of the American Dream – owning a home. In 2008, the housing market crashed and home values fell by as much as 60% in certain markets. This was the major trigger to the Great Recession we experienced from 2008 to 2010. To come back from that recession, mortgage interest rates were pushed down to levels…

5 Tips When Buying a Newly Constructed Home

First Time Buyers, For Buyers, Move Up Buyers, New ConstructionChrysti Tovani
The lack of existing inventory for sale has forced many homebuyers to begin looking at new construction. When you buy a newly constructed home instead of an existing home, there are many extra steps that must take place. To ensure a hassle-free process, here are 5 tips to keep in mind if you are considering new construction: 1. Hire an Inspector Despite the fact that builders must comply with town and city regulations, a home inspector will have your best interests in mind! When buying new construction, you will have between 1-3 inspections, depending on your preference (the foundation inspection,…
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