Homeownership is currently at an all time low. There is a wealth divide in our country that makes it difficult for minorities and those under 30 to purchase a home. On average, ⅓ of first time home buyers receive help from family. There is also an increase of first time home buyers teaming up with roommates or partners to purchase their first home.
How can home ownership be encouraged in today’s world? More and more agents are spending their time educating renters on the importance of home ownership. Overall, home ownership provides greater opportunities for wealth. Seminars and presentations for renters in your community is a great place to start. Oftentimes, apartment complexes host hundreds of renters all in one spot. Market your services to local complexes. There are also multiple ways to get creative for financing. As Lautz mentioned, young buyers are teaming up with friends and partners to purchase their first home.
How can you encourage home ownership in your community?