These Are the Biggest Challenges in the Home Buying Process, According to Home Buyers
There’s no denying that there are certain challenges that go along with buying a home. But in 2021, what are the biggest challenges facing buyers?
According to the 2021 Home Buyer and Seller Generational Trends report from the National Association of REALTORS®, more than half of home buyers (53 percent) cited finding the right property as the most difficult step of the home buying process. It was by far the most challenging aspect of the process according to the data.
Some of the other difficult steps home buyers faced during the home buying process included:
- paperwork (17 percent),
- understanding the process and the steps they needed to take (15 percent),
- and saving for a down payment (11 percent)
It’s also noteworthy that 20 percent of homebuyers reported facing no difficult steps at all while buying their home.
So, what does this mean for you? If you’re thinking about buying a home, it’s important to know the potential difficulties you may face during the home buying process; that way, you can be prepared—and make sure the process of buying your home goes as smoothly as possible.