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Monthly Archives: October 2023

Neighbors Matters When Shopping For A Home

Home shoppers focus their energy on the type of house they want and the features they’d like it to have. Things like the number of bedrooms, the size of the kitchen, and the available outdoor space are the first things they check when an interesting listing pops up. It makes sense. After all, too few bedrooms or a small kitchen can be a deal breaker. But while the layout of the house and the condition of the physical structure are obviously top considerations, there are other external factors that will also have an impact on how much you like your new place. Like your prospective neighbors. It’s almost impossible to know how well you’ll get along with your future neighbors before you buy, but they matter. In fact, a recent survey found 92 percent of Americans know at least a few of their neighbors on a first-name basis and 85 percent plan to stay in their current home long term. That means, when you buy a house, you’re also buying a potentially long-lasting relationship with the people who live near it. (source)

Housing Market’s Total Value Surged This Year

When you buy a home, you’re making an investment in the housing market. It may not be your primary reason for buying or your focus while living there, but it’s an investment nevertheless. The ups-and-downs of the market will affect your home’s value, how much equity you gain, and your options should you decide to move. In other words, market conditions should matter to you whether you’re a prospective home buyer or a current homeowner. So how’s the market doing? Well, according to a recent analysis of the total value of the U.S. housing market, it’s surging. The analysis found the total value of every home in the country is now around $52 trillion – up 2.6 trillion over the past year and $1.1 trillion higher than its previous peak last June. The surge in value can be attributed to a couple of factors, including rising home prices and an increase in new homes built this year. (source)

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