A recent article by the National Association of Realtors shared recent survey results, that “most renters want to own a home… lifestyle changes are the top motivation to buy a home, followed by improvements in their financial situation [that] outweigh seeing their rent increase as the main motivators for deciding to buy a home.”
What does this mean for those thinking of selling their home in the next year?
- If a potential buyer is currently a renter offering to pay buyer closing costs may be a huge incentive
- Lifestyle changes can be the addition of a child or a dog. Both need room to roam. As you are looking at what you need to do to get your home market-ready think about inside space and outside space and what you can do to make it appealing to buyers.
- Just remember these…renters might be looking for a more affordable home to buy, but the people that are looking to sell their (affordable) home need to move up. This is good news for everyone!
Reference article: https://www.nar.realtor/newsroom/most-renters-want-to-own-a-home-lifestyle-changes-are-top-motivation-to-buy