A Starting Point When You're Choosing Between Price, Size & School
According to Realtor.com, the U.S. economy is fighting hard to combat the massive pandemic blows within our country, and the latest data suggests its recent progress is on track to move forward without pause. Economists examine multiple factors to judge the economy's status, and they see rising industrial production, modest growth in retail sales, strong real estate demand and homebuilding activity, and increased household debt from more families leveraging historically low mortgage rates to buy a home or refinance all of these considering encouraging for our economy.
Regarding the topic "Making Room for Mom & Dad"... REALTOR Magazine explains the following:
Multigenerational homes are becoming increasingly popular, in part due to COVID-19. Many families wish to keep aging relatives out of senior living or group-setting facilities, with the desire to add health and safety measures. Arranging the entire family under one roof allows relatives to spend more quality time with one another and combine incomes to afford a larger home. Homebuilders are developing resolutions for this trend by constructing houses with two owners' suites, with one on the ground floor.
As a part of an msn article, asking "Are Better School Districts Worth the Pricier Houses?"... we offer the following summary:
School rankings and test scores play a sizable role on how a school performs, but there are a variety of factors to consider before paying the higher home price to live in the district with the best-rated schools. Evaluate the most important factors for you and your family. It might be diversity, academic achievement, services for students with disabilities, sports programs, student-to-teacher ratios, parent involvement, or something else. Delve into cheaper districts' offering to determine if you need to live in a more expensive distrist to get the services you have determined as most valuable. Talking to parents at the school is a great way to a personal understanding on learning environment and student experience way beyond what rankings and data display. A little bit of homework, will go a LONG way!
Last Thought to Consider
We hope that you look at the homebuying process as a happy milestone, as opposed to an overwhelming concept. There are a lot of great sources & tools to get you through this sometimes daunting process... we of course would love to be a part of helping your homebuying adventure be easy and positive! To give a more genuine portrayal of the homebuying process, the National Association of Realtors® just released a new eight-part educational video series on Roku called "First-Time Buyer", providing an upclose look at real-life home buyers, telling their stories.
~your Real Advantage Partners RE/MAX Precision team