Half a century ago, 70% of US adults were married and surveys suggested that the vast majority of people thought that those living alone were strange failures. Attitudes and statistics have changed dramatically with the married percentage down to 50% and over a quarter of all property single occupancy. That quarter is much higher in many large cities. Living alone seems to be a positive choice and that is the accepted view of the vast majority.
It means there is increased demand for smaller homes and the demand for new condominiums for sale reflects this. There have been a few difficult years for real estate but now that the subprime mortgage lending has been largely eradicated; stability has returned to the market.
It is not just singles looking for condos; it may be a young couple buying their first home as they set out on careers or retired people looking to move to something smaller and more compact. It adds up to good news for the building companies with condo projects in the pipeline.
The purchase of real estate, certainly the first time purchase, can be a nerve racking affair. It is a big undertaking and the biggest a first time buyer will have done in their lives to date. However, the process can be made easier if the builder of choice has a good reputation built up over a number of years. It starts with the plans and new condominiums for sale can be secured with a small deposit. Mortgage lending has changed since the subprime mortgage fiasco caused such financial problems worldwide. Finance is still available for those who can demonstrate their ability to repay the loan.
With the finance secured, the next thing to plan while the property is being built or the paperwork is being prepared is its internal décor. For first time buyers that will be a matter of starting from scratch with furniture and the furnished examples can provide many good ideas and the supplier details for ordering.
New condominiums for sale in many States of the USA provide a good investment certainly in anything from the medium term. Prices have stabilized and everyone can feel confident that there is no chance of negative equity that has been a problem for some people who borrowed to the limit as prices were rising quickly.
One extra advantage in buying new real estate is the energy saving features that are likely to be incorporated. The potential saving on an annual bill can be as much as 30% and that is significant finance particularly for the young, and potentially the retired as well.
The internet does provide the chance to do some research before actually visiting sites to look at the new condominiums for sale. It means there is time to think about any questions relating to the property or the finance can be prepared. Established builders are certain to have all the answers and reassurance needed. If the finance can be guaranteed, it is time to move.
Steve Smith is a freelance writer based on the South West Coast of Turkey. He writes on an extensive range of subjects with many projects relating to the USA, its politics and the current economic climate whether it is the housing market such as new condominiums for sale or the financial and employment trends in recent years.