Much research suggests that many people over 50 are buying their first property this year, Greycoat specialists inform. There has been a big rise for the past five years, also, on the percentage of mortgage approvals. Here’s another interesting statistic:
People under 30 aren’t buying houses like they used to. Every day, the number of people over 50 buying houses drastically increases. In the South West, Greycoat informs, there are even more people over 50 buying properties.
More and more people are waiting until they are 50 to buy a home because the cost of houses is expensive. Many people take a long time to save up for a deposit, so they might be 50 when they even have the money to buy a house. Greycoat adds that the rate at which people in their 50s are buying properties is currently about 7 percent.
This definitely puts the financial services industry in a bind because people in their 30s aren’t getting loans for homes. Greycoat adds that if you are thinking about buying a house later in life, keep in mind that most lenders aren’t able to offer you a loan if you’re 75 years or older.
Do you want to buy a property soon? Thankfully, Greycoat Real Estate may be able to help you. The company specializes in commercial real estate, guaranteeing that you get the best value for your money.
Have you seen The Minster Building? This is one of the projects that this company has worked on. It’s about 300,000 square feet. Visit the company’s website to learn more about this excellent building.