If you are looking to sell your home, you may be interested to know about a 2012 survey that found that of renters who are hoping to one day own their own home, a massive 60% were planning to buy in the next two years.
This represents a 60% increase in potential buyers for homes, which is definitely giving a sense of renewed optimism. These findings should have a positive effect on home prices and increasing sales in 2013.
The renters polled listed their top reasons for wanting to buy in the near future and a staggering 49% would like to call himself or herself a home owner. Forty-four percent viewed it as a sound financial investment, and 36% felt they needed additional space for their children and family.
Perhaps because of rising costs, the survey found that double the amount of home owners anticipate having adult children or elderly parents come to live with them compared to two years ago. 31% of survey respondents expect at least one of their adult children moving back in with them, and 32% anticipate welcoming a parent into their household.
This shift in trends could create an increase in demand for more flexible homes with bedrooms on the ground floor, additional bathrooms, large family rooms and kitchens to accommodate the multiple generations. Multigenerational homes have already increased by 30% over the last decade and their share of the total households is expected to swell further.
This could be good news for sellers who can show their homes flexibility, smart planning and spacious communal areas, as there could be an increase in demand. The emphasis must be on showcasing your home’s unique qualities and spacious feel that would appeal to a multigenerational market.
It would appear that the consumer confidence has been bolstered in the housing market with the rising prices of homes, increased interest of renters and improved economy looks set to continue throughout 2013.
If you are interested or need more information about Stephenville homes or any Erath County homes, then please contact me. I would be delighted to assist you with any queries or questions you may have.