Buying A Sarasota Home? You Shouldn’t Do It Alone
In a recent survey by Discover Home Loans, 94 percent of those surveyed stated that they felt they were making a good investment by purchasing a Sarasota home. In that same survey though, only 66 percent of the surveyed group stated that they were working with a real estate agent to see if a home would in fact be a wise investment. In the end though, most of the people that completed the Discover Home Loans survey went through to announce that they were well overwhelmed with the process.
Home buying can be a daunting process. You have to search for the homes you want, see all of the available properties on the market that fit your criteria, make an offer on the one that you would like, go through mounds of paperwork and expect to do this while working a 40+ hour per week job. In the report, here are some of the findings that display just how overwhelmed people can be in the process:
- Nearly 66% feel overwhelmed with the amount of information available
- 76% of those under the age of 30 feel overwhelmed
- 76% of first time buyers feel the same way
- 54% of those buyers who have previously owned also were overwhelmed
- 59% of buyers turn to mortgage bankers to help evaluate mortgage terms and comparing offers
- 49% of buyers turn to real estate agents to help evaluate mortgage terms and comparing offers
The one statistic that pops out to us is the fact that approximately 2/3rd of those surveyed feel overwhelmed, whereas only 1/2th actually used a Sarasota real estate agent.
To combat these statistics, the Chief Economist of the Discover Home Loans company did state, “The industry is becoming more transparent in an effort to help home buyers become informed about changes that may affect their process. The sheer amount of information can lead to confusion and stress. Those looking to purchase should work closely with their lender and realtor to make sure they are comfortable with mortgage terms and understand the impact a loan will have on their finances.”
To sum this all up, purchasing a Sarasota home is a wise investment, but can put a lot of pressure on anyone going about the process alone. Real Estate Agents are trained professionals who are here to help you find the home that you desire and to help with all of the paperwork involved. Going about this task alone will prove to be unwise as the stress involved will hurt the final outcome. Working with an agent is the best and more reliable way to make the process as pain free as possible.