Pursuing Your Dream of Homeownership in Strongsville

What You Want To Know If You’re Pursuing Your Dream of Homeownership | MyKCM

Thinking about homeownership? If you’re a young adult, you may be thinking about your goals and priorities for the months and years ahead. And if homeownership ranks high on your goal sheet, you’re in good company. Many of your peers are also pursuing their dream of owning a home. The 2022 Millennial & Gen Z Borrower Sentiment Report from Maxwell says:

“Many young adults have demonstrated their resolve to embark on the journey toward homeownership soon. More than half of millennials and Gen Zs plan to apply for a mortgage sometime within the next year.”

Let’s take a look at why homeownership makes the top of so many young buyers’ to-do list and what you need to consider to achieve your goals if you’re one of them.

Top Motivators To Buy a Home

Before you start the homebuying process in Strongsville, it’s helpful to know why homeownership is so important to you. The survey mentioned above sheds light on some of the top reasons why younger generations are looking to buy a home. It finds:

No matter which of these resonates the most with you, know there are many financial and non-financial reasons why you may want to buy a home. While your top motivator may be different than that of your friends, they’re all equally valid and worthwhile.

Key Obstacles and How To Overcome Them

Whether your homeownership goals come from the heart or are driven by financial aspirations (or both), it can still be hard to know where to start when you’re looking to buy a home in Strongsville. From understanding the homebuying process, to getting pre-approved, and exploring down payment options, it’s a lot to wrap your head around.

The same Maxwell survey also reveals key challenges for potential buyers. Thankfully, the knowledge and guidance of a trusted real estate professional can help you overcome both. Here’s a look at two of the hurdles potential homebuyers say they face:

1. The Mortgage Process Can Be Intimidating

In the Maxwell study, 33.37% said one of their obstacles was that the mortgage process is confusing or difficult to understand.

An article by OwnUp helps explain why the mortgage process is so challenging for buyers:

“There is a general lack of knowledge about home financing. Mortgages are a complicated topic with no one-size-fits-all answer. It’s difficult to understand the space, let alone determine what the right course of action is based on your unique financial picture.

While you may be tempted to do a quick search online to find instant answers to your questions, it may not get you the information you need to understand the full picture. Especially when it comes to financial advice, you want to lean on a true expert. Having trusted professionals on your side can help you to learn what it takes to achieve your dream of homeownership in Strongsville. Not to mention, an expert can give you advice specific to your situation, not generic advice like you’ll find online.

2. It’s Hard To Know How Much You Need To Save

In the Maxwell study, 45.75% believe they don’t have enough saved to cover their down payment or closing cost expenses.

What you may not realize is that, today, there’s a growing number of down payment assistance programs available nationwide to help relieve this pressure. A report from Down Payment Resource says:

“Our Q3 2022 HPI report revealed a 1.6% uptick in the number of homebuyer assistance programs available to help people finance homes, raising the number of programs to 2,309, a net increase of 36 over the previous quarter.”

Additionally, as the housing market cools, buyers are regaining some negotiation power and more sellers are willing to work with buyers to help with closing costs.  Understanding what’s out there and the options available may help you achieve your dream of homeownership in Strongsville faster than you thought possible.

Bottom Line

If you’re serious about becoming a homeowner in Strongsville, know it may be more in reach than you think.

Lean on trusted professionals to help you overcome challenges and prioritize your next steps. Contact us by calling or texting (440) 628-1321.

Some Of Our Favorite Strongsville Developments

If you’re searching for homes for sale in Strongsville, Ohio, you’ll discover a variety of remarkable properties within the communities below (tap the following links to visit community pages):

Abigail Estates, Strongsville

Albion Oaks, Strongsville

Apple Creek, Strongsville

Ashley Oaks, Strongsville

Avery Walden Reserve, Strongsville

Bears Paw, Strongsville

Cartwright Heritage Estates, Strongsville

Castlewood, Strongsville

Cedar Creek Estates, Strongsville

Chasemoor Strongsville
Co-Moor Colony, Strongsville

Craig Estates, Strongsville

Creekside, Strongsville

Crystal Creek, Strongsville

Deerfield Lake, Strongsville

Deerfield Village, Strongsville

Deerfield Woods, Strongsville

Eastland Park Estates, Strongsville

Echo Lake, Strongsville
Edgebrook, Strongsville

Falmouth East, Strongsville

Fieldstone Preserve Cluster Homes, Strongsville

Fieldstone Preserve, Strongsville

Forest Park, Strongsville

Hampton Chase, Strongsville

Hickory Branch, Strongsville

High Point, Strongsville

Hunting Meadows, Strongsville

Huntington Park Estates, Strongsville

Ledgewood, Strongsville

Love Farm, Strongsville

Meadowood, Strongsville

Orchard Hill, Strongsville

Park Ridge Crossings, Strongsville

Pine Lakes Crossing, Strongsville

Pine Lakes Village, Strongsville
 
Reserve at Pine Lakes Village Cluster Homes, Strongsville

Rosewood Estates, Strongsville

Schneider Reserve, Strongsville

Siedels Landing, Strongsville

Siedels Landing Villas, Strongsville

Sterling Point, Strongsville

Still Meadow, Strongsville

Stillbrooke Cluster Homes, Strongsville

Stillbrooke, Strongsville

Stony Point at Chandler Commons, Strongsville

Sunwood Oval Cluster Homes, Strongsville

The Estates At Arbor Creek, Strongsville

The Ledges of Avery Walden, Strongsville

The Preserve of Strongsville

The Woods of Strongsville

Villas of Brittany Cluster Homes, Strongsville

Waterford Crossing, Strongsville

Waterford Crossing Cluster Homes, Strongsville

Westwood Farms, Strongsville
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