Owning a home has long been a staple of the American dream. Buying a home offers a form of stability. Owning a property is associated with higher grades among children, and those who purchase and gain equity in a home are often able to secure more financial stability later in life.
But in recent years the idea of buying a home is something that many younger people have overlooked–or so we have all been told. Young renters like renting, they like the flexibility and financial freedom that comes with renting a property. Well as it turns out, renters want to buy homes too. In fact, there are many renters who are currently looking at property sales in Jacksonville, and this is a trend that is evident across the country.
This month Jacksonville earned the title of “foreclosure capital.” This is something that attracts many renters to finally make the plunge into home ownership. Buying a foreclosure in Jacksonville gives renters the chance to find a place to live for a mortgage payment that is comparable to average rent prices. With rent prices on the rise across the country, buying a home is looking like a much more attractive option for many people.
In 2011, only 73 percent of people thought buying a home was a good idea. This was a steep drop from just several years before, as in 2007 85 percent of the population was pro-home ownership. As of 2013, the same survey from Pulse found that 80 percent of people are pro-home ownership. This is a good sign, as it means that more people are thinking positively about property sales.
There are plenty of foreclosures, short sales and traditional property sales in Jacksonville. If you are a renter looking to buy a home, contact us.