Purchasing a home is a significant achievement and milestone in one’s life. With that comes an enormous amount of risk and responsibility—from securing yourself comprehensive Texas home insurance to managing your mortgage payments—it certainly is a lot to think about.
However, an article from Only Katy happens to prove that new homeowners are starting to think—rather than start of slow, many first-time homeowners are taking the plunge and jumping head first into the housing market.
According to Only Katy, “first-time homebuyers are steering clear of the traditional entry-level home. These homes are usually priced lower and may include new construction without the ‘bells and whistles’ or houses that need fixing up”.
Recently the National Association Realtors (NAR) released statistics that stated, 87% of first-time homebuyers said they want to purchase a home that is move-in ready—it’s believe that this is a result of the 2010 first-time homebuyers $8,000 tax credit—studies show that first-time homebuyers made up half of the market in 2010.
Location is also critical to first-time homebuyers who, in Katy, want to secure themselves – and their children – within the Katy Independent School District, “nationwide, first-time homebuyers cited schools as a determining location factor,” the NAR revealed.
The NAR article goes on to say, “Many first-time homebuyers said the current real estate market offered them more opportunity than they had expected. For example, half of new buyers said they found a home in a more desirable neighborhood than they expected; 61% were able to get the home at a better price; and, 40% got more space than expected”.
Whether you are a first-time homebuyer or a move-up buyer, Katy sure does have a lot to offer! Have questions about the Texas homeowners insurance needed to protect your new property? Contact Dagley Insurance and Financial Services—we’d be happy to help!