The Path To Homeownership Can Be Steeper for Some Americans

Written by Gulf Breeze Mortgage Syndicated User on February 9, 2022. Posted in Demographics, First Time Home Buyers, For Buyers, Gulf Breeze Mortgage, Housing Market Updates, Mortgage Gulf Breeze.

As we celebrate Black History Month, we honor and recognize the past and present experiences of Black Americans. A significant part of this experience is investing in a home of their own. While equitable access to housing has come a long way, the path to homeownership is still steeper for households of color. It’s an important experience to talk about, along with how working with the right real estate experts can make all the difference for diverse homebuyers. We know it’s a more challenging journey to achieve homeownership for some because there’s still a measurable gap between the overall...

Millions of Americans Have Discovered the Benefits of Multigenerational Households

Written by Gulf Breeze Mortgage Syndicated User on February 3, 2022. Posted in Demographics, For Buyers, Gulf Breeze Mortgage, Mortgage Gulf Breeze.

If your needs are changing, you may be thinking about sharing a home with additional loved ones, such as grandparents, adult children, or other extended family members. Whether it’s for financial or health-related circumstances, or simply because you’ve reached a new phase of life, you might be wondering if living with multiple generations under the same roof is a good move for you. Many people have found themselves in a similar situation and they’ve already made the choice to live in a multigenerational home. What Is a Multigenerational Home? The Pew Research Center defines a multigenerational...

The Next Generation of Homebuyers Is Here

Written by Gulf Breeze Mortgage Syndicated User on January 25, 2022. Posted in Demographics, First Time Home Buyers, For Buyers, Gen Z, Gulf Breeze Mortgage, Mortgage Gulf Breeze.

Many members of Generation Z (Gen Z) are aging into adulthood and deciding whether to rent or buy a home. If you find yourself in this group, it’s important to understand you’re never too young to start thinking about homeownership. The sooner you start planning, the sooner you can move on from renting. As you set off on your journey and plan your next move, here are a few reasons to think about homebuying this year. The Reasons Gen Z Want To Become Homeowners While the majority of Gen Z haven’t entered the housing market yet, a large portion plan to according to a realtor.com report. The report...

Advice for First-Generation Homebuyers

Written by Gulf Breeze Mortgage Syndicated User on December 14, 2021. Posted in Demographics, First Time Home Buyers, For Buyers, Gen Z, Gulf Breeze Mortgage, Millennials, Mortgage Gulf Breeze.

The sense of pride you’ll feel when you purchase a home can’t be overstated. For first-generation homebuyers, that feeling of accomplishment is even greater. That’s because the pride of homeownership for first-generation buyers extends far beyond the homebuyer. AJ Barkley, Head of Neighborhood and Community Lending for Bank of America, says: “Achieving this goal can create a sense of pride and accomplishment that resonates both for the buyer and those closest to them, including their parents and future generations.” In other words, your dream of homeownership has far-reaching impacts. If...

Retirement May Be Changing What You Need in a Home

Written by Gulf Breeze Mortgage Syndicated User on November 17, 2021. Posted in Baby Boomers, Demographics, For Buyers, For Sellers, Gulf Breeze Mortgage, Mortgage Gulf Breeze, Senior Market.

The past year and a half brought about significant life changes for many of us. For some, it meant entering retirement earlier than expected. Recent data shows more people retired this year than anticipated. According to the Schwartz Center for Economic Policy Analysis, 2021 saw a retirement boom: “At least 1.7 million more older workers than expected retired due to the pandemic recession.” If you’ve recently retired, your home may not fit your new lifestyle. The good news is, you’ve likely built-up significant equity that can fuel your next move. According to the latest Homeowner Equity...

Is a 20% Down Payment Really Necessary To Purchase a Home?

Written by Gulf Breeze Mortgage Syndicated User on September 22, 2021. Posted in Buying Myths, Demographics, Down Payments, First Time Home Buyers, For Buyers, Gen Z, Gulf Breeze Mortgage, Millennials, Mortgage Gulf Breeze.

There’s a common misconception that, as a homebuyer, you need to come up with 20% of the total sale price for your down payment. In fact, a recent survey by Lending Tree asks what is keeping consumers from purchasing a home. For over half of those surveyed, the ability to afford a down payment is the biggest hurdle. That may be because those individuals assume a 20% down payment is necessary. While putting more money down if you’re able can benefit buyers, putting 20% down is not mandatory. As Freddie Mac puts it: “The most damaging down payment myth—since it stops the homebuying process before...

Category: Demographics