Whitney Minnich Real Estate and Community Updates

Survey: Homeownership Still Hallmark of American Dream March 6, 2019 The majority of Americans—79 percent recently surveyed—still believe that owning a home is a vital component of achieving the American dream, according to a Bankrate.com survey of more than 2,000 consumers. Americans placed achieving homeownership ahead of retirement (68 percent), having a successful career (63 percent), and owning an automobile (58 percent), according to the survey. While the majority of respondents rated ownership high, they do see several challenges to overcome to achieve it. About half of the survey’s respondents say they don’t own a home because they can’t afford it on their income. Four in 10 Americans say they don’t own because they can’t afford a down payment and closing costs, while one-third cite high home prices as the major obstacle.    But a rigid savings plan could put more consumers into homeownership. “Put yourself on financial lockdown for at least ...

Advice Young Adults Need to Avoid Buyer’s Remorse March 4, 2019 Most young adults have financial regrets about their home purchase, a new Bankrate survey shows, but much of their grief could have been avoided with proper planning. That’s where you come in: Younger buyers have a need for more professional guidance about the costs of homeownership. Sixty-three percent of millennial homeowners—more than any other generation—expressed buyer’s remorse, most often pertaining to closing costs, home maintenance, and other hidden expenses, according to the survey of more than 2,000 consumers. “When you buy a house, you can’t call the maintenance company or a landlord to fix major issues; it’s all on you,” says Luis Rosa, a financial planner in Henderson, Nev. Extra expenses, such as needing a new air conditioner, furnace, or water heater, often catch first-time buyers by surprise, Rosa adds. “I always advise home buyers to create savings buckets and open a savings account...