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September 2017 Archives

Why Americans have lost interest in buying homes

The U.S. home ownership rate is currently at 63.7, which is one of the lowest numbers in American history. It has become increasingly common for Delaware residents and others to rent instead of buy. According to a survey of 2,000 Americans, 71 percent said that this was because the process of buying a home was too complex. In some cases, getting a mortgage can take about a month whereas the process of renting a home or apartment may only take days.

What to know about buying a home after age 50

In 2016, 30 percent of first-time home buyers were people between the ages of 52 and 70. Although it may be possible for older Delaware residents to buy a home, it may not necessarily be the best decision. First, older buyers need to make sure that the home they buy will fit their needs as they age. For instance, it may not be a good idea to buy a home with stairs if a person can't climb them.