Why Non-Homeowners Are Afraid To Buy A Home

People like to assume things and sometimes when they have that notion; it blocks them from achieving the possibility to reach for their dream. This is very well true when it comes to owning a home. Most non-homeowners are afraid to buy a home because they do not know what is there for them.

Based on recent surveys, here are just some of the main reason why people are not taking the step closer to buying their own home, and most likely still renting;

1. They do not think that they are mortgage-ready. Apparently, according to Bankrate.com’s survey – they have found that Hispanics are the ethnic group who thinks that their credit is blocking them from being a homeowner.

2. Not emotionally-ready. Owning a home is a big responsibility and it takes huge investment, effort and everything else before you should take the plunge. Most of these non-homeowners are not buying because they are just not ready to own a home yet.

3. Economic turmoil. Despite what we are hearing about how well the housing and real estate industry is going well over the past few months and even so with forecasts, people have had traumatic experience with the loss of their home due to bankruptcy and the housing crisis.

Among all other things, when people have already went past these circumstances they just don’t know what type of programs are available for them in order to own their dream home. Some other people do not also know how much they needed for a down payment.

If you think about it, people just need to be aware of what options they have in order to become a homeowner. Lack of awareness could be one of the major and sole reasons why they are still within the renting zone and it makes them feel that it is a dead end despite reports of rates for rented homes are rising.

If you are one of these non-homeowners, it is best to speak to a real estate professional that can be able to guide you through and assist you to become a homeowner. They can be able to provide you information if you are credit-worthy and mortgage-ready. Who knows, this year might be the best time for you to become a homeowner.

source: http://realtormag.realtor.org/daily-news/2016/02/11/what-has-non-owners-afraid-buy#sf20751347