It seems like many people are finding the process of purchasing a home to be a frustrating, confusing, and stressful experience. Would you agree?
In NAR’s 2013 Profile of Home Buyers and Sellers, Ohio home buyers were asked to indicate which steps of the home buying process they found most difficult. Clearly finding the right property was the most difficult step, as indicated by 50 percent of respondents. Paperwork and understanding the process were selected as the next two most difficult steps by 25 and 16 percent of respondents, respectively. Only 16 percent of buyers indicated there were no difficult steps.
In a more recent OAR survey, Ohio real estate professionals were asked to indicate which single step of the home buying process their clients need the most help. Understanding the process (31 percent) and finding the right property (26 percent) are the top two steps perceived to be the most difficult. Saving for a down payment and getting a mortgage followed (garnering 17 and 16 percent). Only 1 percent of respondents to the March 2014 survey indicated their clients found none of the steps difficult.
Don’t let these statistics scare you! The most important step in purchasing a home is getting the right people on your team. If you choose carefully, the rest of the process will not only be painless, but also fun! Buying a home should feel like an exciting adventure, not like your being taken for a ride.