The idea of buying “starter homes” began after World War II, with new low-cost developments attracting millions of young families with the idea of easily owning their first home, which was the symbolic first step towards realizing the American Dream.
But with the current market going up and down and up again, first-time Randolph County NC homebuyers are a lot less predictable. The economic recession of the previous years made a huge impact on decreasing the number of Randolph County NC home buyers, but with today’s historically low interest rates and record-low affordable Randolph County home prices, home buyers now have the opportunity to purchase bigger and more spacious homes and skip the starter home phase altogether.
But the market has not entirely abandoned the concept of starter homes, especially if you consider Randolph County NC REO and foreclosure fixer-upper properties as cheaper alternatives for young families, along with the FHA 203k loan which gives these homebuyers a built-in budget for “limited repair” to encourage them in that direction.
But new and first-time homebuyers now have other choices at hand including larger older homes and choices of newer Randolph County NC townhomes and condominiums.
If the low interest rates and affordable home prices still aren’t enough to stimulate the market to buy homes, then the trend toward rising home prices could just do the trick. Buyers need to take advantage of these low prices and mortgage rates now because it seems they are not here to stay, as inventories of the best deals begin to decrease and the mortgage rates may soon go up again. For Randolph County NC home sellers who are waiting to move up, the same factors could make this spring’s housing market the best time to sell.
This all boils down to how Randolph County home buyers should keep an open mind when it comes to the wide range of properties now available to them. By getting the help of an expert Randolph County NC agent, the widest choice of homes will be available to you.
If you are looking for the most updated advice on the Randolph County real estate market, I’m just a call away to give you the tools you need to arrive at the best decision for your first ever home, and every home after!