Property buyers are exploring the homeownership opportunities available around the United States, especially since mortgage rates remain low in many areas. However, younger homebuyers are studying the housing market closely, keeping doors open to ensure that they can find quality residences.
According to Zillow, a recent real estate survey showed that 77 percent of younger Americans want homes they purchase to feature the latest technological innovations. Additionally, researchers noted that these property buyers often play by their own rules, making decisions sometimes without considering the long-term effects.
Taking an informed approach
Informed homebuyers can often make the best decisions. Performing plenty of research in advance is vital, as this enables property buyers to find the best values on the real estate market.
As the U.S. economy rebounds from the recession of the late 2000s, it is more important than ever for property buyers of all ages to conduct extensive evaluations of available residences. With comprehensive research, property buyers could avoid costly problems down the line.
Many homebuyers consider extended warranties
Several real estate experts have predicted that home prices will rise 9.7 percent in 2013, and as a result, numerous homebuyers are acting fast to obtain affordable residences. Meanwhile, property buyers are also considering alternatives, such as extended warranties.
"Securing your home with an extended warranty is a great way to set yourself apart from [others]," said Tim Meenan, executive director of the Service Contract Industry Council. "Buyers seek out homes that are covered by an extended warranty because it can potentially save them thousands of dollars in post-sale home repairs."
There are other steps that homebuyers should consider before purchasing residences, including home inspections.
The benefits of an in-depth review
Performing a property inspection delivers long-lasting benefits to homebuyers, and the results of this review should be major considerations in determining whether to buy a house. A home inspection enables property buyers to evaluate all aspects of a house, and completing this in-depth examination often allows homebuyers to make better decisions.
After a house inspection, property buyers could ask sellers to make improvements to a residence. Additionally, homebuyers may also negotiate a lower price for a house, or these people may walk away from a residence entirely. Regardless of a homebuyer's decision, a property inspection allows a person to receive peace of mind along with numerous details about a home to help during the decision-making process.