2024年首次购房者报告

After a few years of housing market volatility, uncertaintyremains about the 2024 buying outlook. This is especially truefor first-time buyers, who are in somewhat of a limbo: They’rewatching mortgage rates fall, home price predictions fluctuate,and sellers remain on the sidelines — at least, for now. With this in mind, we surveyed recent first-time homebuyers tounderstand what’s motivating them, what’s holding them back,and how they’re getting creative to make homeownership areality. What we uncovered were the realities of first-timehomebuying right now — continued co-buying with platonicpartners like friends and parents, a resiliency despite externaland internal pressures, and more. REDEFINING THE FIRST-TIME BUYER: CO-BUYING WITH PLATONIC PARTNERS CONTINUES The definition of traditional American homeownership is shifting. Consumersare getting more creative to make their homebuying dreams a reality. The nextchapter in someone’s life might not necessarily be dictated by romantic orfamilial milestones, suggesting that we could see a reimagined definition of“homeowner” in residential real estate. A look at co-buying right now First-time buyers are making homeownershipgoals happen on their own and with others First-time homebuyers tend to: Question: How do I know if co-ownership is right for me? Answer: Co-ownership is a great option for buyers that don’t haveenough liquid cash for a down payment themselves, but could achievehomeownership if the upfront costs and mortgage is split. It’s aninnovative way of building equity — without putting all of the moneyupfront yourself. Men are more likely to purchase a home with a friend. More than 1 in 10 first-time buyers bought their home with a friend in 2023 (11%), and the majority ofthem are men (62%). They were motivated primarily because they thought itwas a smart investment (50%), although there were many times when they feltlike the process wasn’t worth it, as nearly a fifth of those who bought withfriends questioned it every day (19%) compared to 9% overall. Home tours as the new hang-out? Home tours can add to the purchasetimeline for co-buying pals. Those who bought with a friend saw more homes:45% toured 20 or more homes compared to 33% of those who did not buywith friends. Nearly half of first-time co-buyers argue — a few times — about their purchase.The more people involved, the more compromises to be made. Of those whobought a house with someone else, half (49%) argued about what home tobuy. On average, they had four arguments over the course of their homesearch process. Sole ownership is also on the rise. At the same time that buyers are turning toothers to make their homeownership dreams a reality, sole ownership is alsoincreasing. About a quarter (23%) of first-time homebuyers bought alone, anincrease from 17% in 2022. Opendoor Tip: Always refer to this checklist before co-buyinh { Align on financial expectations: Ensure all financial history and details areon the table and both sides are an open book when it comes toexpectations, non-negotiables and limits{ Credit checks are a must: Be sure to discuss credit scores, go through allpaperwork together, plan out how you will account for tax breaks and howyou plan to split expenses.n{ Consider your mortgage strategy: An occupant co-borrower is someonewho goes in on a loan with you and also plans to live in the home. This loanoption can actually help your chances of being approved, as long as theyhave good credit and consistent income. This means both you and your co-borrower are expected to make monthly mortgage payments, but you’reboth on the hook if someone doesn't make a payment.n{ Agree on an exit strategy: Decide what the exit strategy will be if one co-owner would like to move out or move on from the investment. TOP FIRST-TIME HOMEBUYERMOTIVATIONS At a time when many are questioning the importance or likelihood ofachieving homeownership, those who were able to attain it are clearabout their motivations. First-time homebuyers’ main motivations What’s influencing buyers to purchase —and how they act once they’ve closed the deal First-time homebuyers are driven by: 44%Stability and peace of mind from owning versus renting 43%More space 23%Starting a family 41%Investment opportunities After signing the dotted line, first-time homebuyers: 73%Celebrated when the transaction closed 65%Questioned if buying a home was worth it 27%Were just glad the process was over TOP FIRST-TIME HOMEBUYERHURDLES + COMPROMISES For those who are intent on making that first-time purchase, there’s always alittle give-and-take. For many, making compromises with sellers — as well aswith themselves and their own expectations — is the new reality. First-time homebuyinghurdles and compromises Affordability is top of mind, and many areadjusting expectations in other areas These are the reasons buyers delay their purchase: Waiting for interestrates to go down32% Financial reasons53% Relationshi