Last year, first-time home buyers spent 22 percent more renovating their new house than buyers the year before. The increase shows a significant spike in younger buyers who are willing to take on the challenge of buying a fixer-upper. But what's behind the surge? Well, one obvious reason to buy a house in need of some work is price. Naturally, if you're going to find a bargain, it's likely going to be because the house isn't in the best shape. Depending on how handy you are – or how much savings you've built up – you may be inclined to grab a lower-priced house with a plan to upgrade it to your liking. The other reason, which would help explain the recent spike, are current market conditions. Since inventory in many markets is low, there are fewer homes available for buyers to choose from. That means, more buyers are going to have to look at homes that may need a little help. Nino Sitchinava, principal economist for Houzz, the company who conducted the survey, says recent buyers are always a big share of renovations and low inventory of affordable homes is helping to boost those numbers. “Younger and cash-constrained first-time buyers are responding to the low inventory of affordable homes by purchasing properties that require more than just cosmetic upgrades,” Sitchinava said. There are fixer uppers available in Eastern, NC, which is a very popular area to buy a home in, but there is also a very good inventory in this area. Many new homes are being built in Eastern, NC, particularly in the coastal area. There are also incentives being offered to help offset some of the expense of buying a home, so this has made home more affordable in this area. To see some of the homes available go to: http://www.firstcarolina.com/listings/ or join our social media at: https://www.facebook.com/fcrhavelock/. More here. 

Fixer-Uppers and 1st Time Buyers

#mortgageratesineasternnc

#mortgageloansineasternnc

#mortgageapplicationsineasternnc

#fixeruppersineasternnc

#homeinventoryineasternnc

#homeinventoryinnewbernnc

#homeinventoryinhavelocknc

#homeinventoryinemeraldislenc

#newhomesineasternnc

#newhomesinnewbernnc

#newhomesinhavelocknc

#newhomesinemeraldislenc

#newhomeinventoryinnewbernnc

#newhomeinventoryinhavelocknc

#newhomeinventoryinemeraldislenc

#homepricesineasternnc

#homepricesinnewbernnc

#homepricesinhavelocknc

#homepricesinemeraldislenc

#sydeshomesineasternnc

#sydeshomesinnewbernnc

#sydeshomesinhavelocknc

#sydeshomesinemeraldislenc