Why Are Millennials Renting vs. Buying Homes?

According to the U.S. Bureau of the Census, homeownership in Connecticut was 66.1 percent in 2017. Yet, only 14 percent of these homeowners were younger than 35. Unfortunately, millennials face more barriers to homeownership than older generations. Why do more young people choose to rent versus buy a home? Factors Affecting Homeownership According to Urban…

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USDA Announces National Homeownership Month

As one type of loan geared toward both rural and suburban properties, USDA mortgages have been a financing option for many homeowners. Over the past decade, more and more individuals have used USDA loans to purchase homes and, in response, the government organization announced National Homeownership Month with a press release in early June. On…

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Homeownership is More Profitable for Men Than Women

As a single homeowner, have you ever thought about how your property stacks up to the competition, both in initial and long-term value? RealtyTrac decided to find out who gets a better deal – single men or women – in the homeownership process. According to a study published in May, homeownership for single individuals tends…

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When Shouldn’t You Buy a Home?

Buying a home is one of the biggest purchases we make in our lives. As a result, there are often “right” times to buy a home and “wrong” ones. When should you put off making this decision? 1. Your Can’t Make the Down Payment These days, lenders offer loans with down payments from 3.5 to…

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4 Common Hurdles to Homeownership

Even as mortgage rates drop, housing trends indicate potential buyers’ hesitancy to make a purchase. What hurdles might they face? 1. The Complex Mortgage Process According to a Digital Risk survey, the longer mortgage application process deters many potential first-time buyers. This includes a longer closing time and greater setbacks stemming from stricter regulations. A…

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