We want to share with you the results of a recent survey, in which Americans planning to buy a home in the next five years share their financial concerns. With financial worries so plentiful today, we thought the findings were interesting.
Interest rates were most often cited as a financial worry by U.S. adults who plan to buy a home within the next two years, according to a Zillow survey*. Sixty-eight percent of adults who plan to buy a home in the two years said interest rates were a concern, while 63 percent said local property taxes were a financial concern and 57 percent cited purchase price.
Of those planning to buy a home within the next two years, 94 percent said they had at least one financial worry about buying a home.
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Financial Worries About Buying a Home Within the Next Five Years
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Plan to buy in 2 Yrs or Less
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Plan to buy in 3 Yrs or More
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Interest rates
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68%
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24%
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Local property taxes
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63%
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25%
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Purchase price
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57%
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27%
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Closing costs (e.g. legal fees)
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41%
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16%
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Maintenance costs
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39%
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16%
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Realtor fees
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26%
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12%
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Inspection costs
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16%
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8%
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Other
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7%
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2%
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Even as interest rates rose to the top of homebuyers’ concerns, mortgage rates recorded on Zillow Mortgage Marketplace remained last week. You can find more mortgage resources, like live rate tables and our mortgage blog, Mortgages Unzipped, on Zillow’s press page.



















Comments
Comment by: New Homes Georgia
- Oct 29, 2008 6:08:55 AMDuring this economic tsunami, interest rates have remained remarkably stable -- and historically low; it defies logic with the huge federal debt. Are there any economists out there who want to expound on this?
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