The Internet is much more than a tool for casual browsing. It’s ingrained in everything we do—from paying bills to shopping for a home. Among all generations of home buyers, the first step taken in the home search process was to look online for properties, according to the National Association of Realtors’ 2022 Home Buyer and Seller Generation Trends report.
With so much information available at your fingertips it can be hard to make sense of it all—especially for a process that can be as protracted and complicated as the purchase of a home.
The study also found that first-time home buying among younger generations is on the rise, with over 4 out of 5 younger millennial home buyers – 81% – purchasing for the first time. Just under half – 48% – of older millennial buyers were first-time buyers, making it even more imperative to have a firm understanding of the factors involved in purchasing a home.
The Consumer Financial Protection Bureau and the Federal Deposit Insurance Corp. both have resources to help demystify the homebuying process. But having a working knowledge of the process and available programs to assist first-time homebuyers is a far cry from determining the right loan to meet a consumer’s unique financial needs and budget considerations.
That’s where we come in. Our expert lenders can help explain not only what you can afford and what to expect during the process, but other factors to consider when determining the right time to buy a home.
For those who are ready, there are several options available. We have all of the information on our website – in a way that makes it easy to understand https://www.chelseastate.bank/loans-mortgages/home-loans.
During National Homeownership Month, Chelsea State Bank wants to remind you to contact us for help with the homebuying process. If you are not ready to take the plunge just yet, we can help you to establish a budget and set financial targets, so that when the time is right, you’ll have the know-how and the confidence to secure the keys to a home of your own.
