What would you do to get into that new home?
What are you willing to do to buy a home? According to a new survey from national mortgage lender Mr. Cooper, Americans are willing to make plenty of sacrifices to get their piece of the American Dream.
TheMortgageReports recently ran a feature story covering the 2019 Modern Homebuyer survey from Mr. Cooper. According to survey, U.S. residents still believe in the value of owning a home, and are willing to take some serious steps to get into one.
The survey found that 75 percent of buyers would take on a side job so that they could earn enough income to qualify for a mortgage and buy a home. The survey found, too, that 36 percent of respondents would welcome a roommate if that could get them into a home earlier.
TheMortgageReports said that buyers would also be willing to ask their parents for financial help. It’s not so certain, though, that parents will be willing to provide that assistance.
According to the story, only 30 percent of parents said they would be willing to provide their children with financial assistance to buy a home. Only 19 percent of parents said they would outright give money. The survey found, too, that 11 percent would offer their children a loan.
Buying a home, whether it’s your first, second or third, is a big deal. And I’m not surprised that people would be willing to take on second jobs or roommates to make owning a home a reality.
If you’re ready to buy a home in Chicago, though, I do recommend that you start by talking with a REALTOR®. This professional can help explain the local housing market to you. You might find that you can find a condo or single-family home in Chicago without having to take on another job or a roommate. It all depends on where you want to live and what kind of home you want.