Home Affordability Top Concern for Texas Home Buyers

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Rising home prices are the biggest obstacle to home ownership, according to a recent survey of Texas home buyers, conducted by the National Association of Home Builders. Here are highlights from the NAHB’s Economic Data for Texas!

One key finding stands out: 22% of Texas buyers are currently paying 50% or more of their monthly income towards rent! This makes it difficult to set aside funds for a down payment, and is part of the challenge facing buyers today.

According to the survey, here are the top 3 obstacles to buying a home:

The survey respondents reported challenges in other areas, to a lesser degree:

  • Needing a better job/better income: 18%
  • Being able to sell current home for enough profit: 16%
  • Needing to pay down student loans or other debt: 13%

While the obstacles to home ownership are financial, the biggest motive behind home buying isn’t all about money. According to the survey, 70% of respondents want to buy a home in order to have “a place to call their own.” About 53% said home buying was a “good investment.”

Don’t just dream about home ownership – plan for it! Having the right real estate professionals by your side can make a world of difference!

We can refer you to local, trustworthy mortgage lenders who can help you explore your mortgage options! And when you’re ready to begin your home buying journey, trust the KW Energy Corridor Team to guide you!

Ready to find your new Houston home? Obtaining the expert advice of the KW Energy Corridor Team is the first step in a successful home purchase!

Contact us today for your personal real estate consultation!

KW Energy Corridor Team
Michael Bossart

11757 Katy Fairway | Suite 930
Houston, TX 77079
908-872-9332

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Texas law requires all real estate licensees to give the following information about brokerage services as well as this consumer notice to prospective buyers, tenants, sellers and landlords:
Texas Real Estate Commission Information About Brokerage Services - Texas Real Estate Commission Consumer Protection Notice