If you are a would-be first time home buyer concerned about buying a home, you’re not alone. First time home buyers have had the most difficulty getting back into the real estate market after the Great Recession. Many would-be first time home buyers lack the financial resources, while others worry about the long term value. However, there is probably no better time than now to buy your first home.
You may be one of the many would-be first time home buyers who opted to continue to rent or live with their parents until the timing was right. Many would-be home buyers did the same, as a 2106 Pew Research Center report pointed out the millennial housing trend that may be associated with the decline in the homeownership rate since the Great Recession (For First Time in Modern Era, Living With Parents Edges Out Other Living Arrangements for 18- to 34-Year-Olds; pewsocialtrends.org; May 24, 2016). However, economic factors have significantly improved, and the housing market has stabilized. So what’s holding you back?