According to a National Association of Realtors study, in 2015 the share of first time homebuyers was 32%. For comparison, that share was 44% in 1981.
As a recent homebuyer myself, I can certainly see a number of reasons for that shift. A lot of my friends are still renting, and feel more comfortable doing so.
(Side note: If you need help finding a townhouse, condo, duplex, or house to rent, I can help with leases as well!)
Buying your first home doesn't need to be a scary process! I love being the designated "hand holder" throughout the process. Plus, right now, interest rates are LOW, and there are a variety of down payment assistance programs out there in Jefferson Parish, Orleans Parish, City of Kenner, and most of Louisiana. Don't assume that you need 20% saved up for a down payment (it helps, but there may be other options!). There are different qualifications that need to be met for the various down payment programs, but I can help you find the perfect lender to help navigate the pre-approval process. Once we know your pre-approval budget for your new house, we can start the fun process of looking at properties!
It doesn't need to be stressful - you just need a Realtor who is willing to help you step by step.
That's the difference that an Engel & Volkers Advisor makes. Premium service. Every time.
Send me a message if you need my assistance!
Jennifer Fahrenholt, Licensed Realtor in Louisiana
Engel & Völkers New Orleans