Throughout the years, there has been a specific rite of passage in the real estate market – home buyers purchasing their first home will begin by buying a starter home, then moving on to a more substantial home that meets all of their needs later on. The idea is simple – that starter home helps them meet initial bills, establish credit, and serves as a gateway to their real estate future.
But according to a recent study, that’s a trend that has started to fade away. More than 1,000 people were surveyed, and the results came up with some surprising numbers including:
- 75 percent of first time home buyers now say that they prefer to start off by buying a home that will meet all of their future needs instead of a basic starter home.
- 66 percent want to purchase one for emotional reasons, not financial ones.
- 66 percent also say that they expect assistance from parents when it comes to buying a home.
- 95 percent are willing to make sacrifices in their life in order to purchase the home they really want.
What do these numbers show? Simply that home buyers today are highly motivated and willing to take the additional steps needed to bypass the ‘starter home’ entry point that is so common. And thanks to numerous assistance programs, loan options, and other similar systems in place, it’s easier than ever before to do just that. If you’re shopping for a home, it may be worth looking for one that really matches your needs and wants instead of just assuming you can only buy a starter home. It’s a trend that may be able to give you the home of your dreams.