This is a sponsored post. All opinions are 100% mine. I’m excited to partner with Chase, who is helping to make the home buying experience easier during this busy home buying season.
Buying a new home can be an interesting task. You may feel extremely happy, but overwhelmed at the same time. I understand what you're going through.
I bought my first house at the young age of 20, and learned many things about the home buying process.
Recently, Chase released a national survey, “Insights from the Mind of the Modern Homebuyer,” which I found extremely interesting. Their survey includes information about how, with the rise of digital and technology and the ‘always-on’ mentality, home buying trends are shifting in today's world.
Yes, they are changing!
This survey showed that 75% of home buyers don’t plan to stay in their homes long-term, suggesting that today’s consumer is always searching for the next best thing. This was true in our case as we only stayed in our home for 5 years, and we actually sold it last year so that we could travel full-time. We also knew that we weren't buying our “forever” home at the time.
Here are some other interesting statistics from Chase's survey:
- Digital tools are changing the way Americans search for homes with more people taking a DIY approach. This was especially true for us, as we found the home that we bought online! Our realtor showed us tons of houses, but we found one online that we liked and had her take us to that one. And, that's the one we ended up buying.
- The survey found 68% of Americans are starting the home search on their own, with 45% using a computer or laptop as the first step and 13% using their mobile device. I'm not surprised by this statistic. We searched online before we contacted our realtor.
- Only 11% would first check their local listings in a newspaper or magazine.
- Mortgage professionals continue to be key in home buying process – 73% of Americans agree that they would want to meet with a mortgage professional as they consider financing options and also feel that a realtor is essential.
- Americans are optimistic about the value of their home and are seeing the value in reinvesting in their homes. Chase’s survey shows that 38% have used or are considering a Home Equity Line of Credit in the next five years, with the majority (58%) putting it toward home improvements.
We all know that planning for, and meeting financial goals — including buying a home — isn’t always easy. Chase is committed to helping people be in control of their finances no matter where in life they are. Check out Chase.com/homebuyers for more information. To begin your process of buying a home, I encourage you to visit the link above where you can also find out more on the survey and home buying tools and tips.
Join the free Master Your Money course!
Join the free email course and finally learn how to manage your money better, pay off debt, save more money, and reach financial freedom.