How will this impact buying a home?
Online brokerage firm Owners.com recently surveyed 1,000 potential home buyers and concluded that buyers are becoming more confident that they understand the home buying process.
The findings also suggest they are becoming more self-reliant with purchasing a home.
According to the report, 80% of homebuyers are confident that the 2016 home buying environment will be as good as or better than it was five years ago, and 92% say that mortgage interest rates are “somewhat to very important” to their decision on when to buy.
Additionally, 69% of respondents gave themselves an “A” or “B” grade when it comes to understanding the home-buying process, suggesting confidence in their ability to self-navigate the real estate market.
The survey also states that 73% of survey respondents would use online sites to search for properties, with more than half or 53%, are inclined to book home tours online. 43% would consider online financing products and 27% would make a purchase offer online.
“Consumers are heading into the spring home buying season with a positive outlook, according to our findings,” said Steve Udelson, President of Owners.com.
“Home buyers also indicate a willingness to go online and handle more elements of the real estate process themselves in order to save time and money – a trend we expect to continue this year and beyond,” concluded Udelson.
As far as luxury items surveyors would like in their new homes, 29% dream of a fully equipped smart kitchen, and 19% wanting a spa bathroom.
33% confirmed they would upgrade to a better home, 25% want to invest in real estate and lastly 24% would be interested in relocating to a new area, as the reason for their interest in a home purchase this year.
80% think the 2016 home buying environment will be the same if not better than the past 5 years.