When you’re in the middle of a big decision – whether that’s switching jobs, having kids, or moving to a new state – being overwhelmed can be a huge factor in delaying.
According to TD Bank’s First-Time Homebuyer Pulse survey, three in four (75%) of first-time homebuyers admit feeling overwhelmed by the process, and thus, possibly postponing the purchase.
These first-time homebuyers surveyed (aged 23-38) do, however, believe now is a good time to buy a home – but are feeling priced out of the market. 22% said higher prices in the neighborhood where they want to live have stopped them from purchasing. 70% of responders also agreed that their expectations for their first home are higher because of the amenities they have where they currently live.
Other notable things first-time homebuyers are worried about:
- Job stability (51%)
- Relationship stability with their significant other (35%)
Although potential homeowners are feeling the stress when it comes to home buying, most are taking at least a minor step towards homeownership.
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