Urban Real Estate

What's The Biggest Obstacle to Buy?

What's The Biggest Obstacle to Buy?

So what's the biggest obstacle to renters who want to make the plunge into home ownership? The latest data suggests it's the down payment.

A new study from Zillow indicated that 70 percent of renters will struggle to secure enough cash for a traditional, conventional 20 percent down payment. This stumbling block is extremely consequential because owning is cheaper than renting in 33 of the nation's largest 35 housing markets. 

Locally, Chicago renters also pointed to difficulty securing financing and existing debt as big obstacles to overcome on the home ownership quest.

Read more at Chicago Agent Magazine here.