Home Buyers Still do More Research on Buying a Car Than on Buying a Home

Written by Scott Cowan on April 30th, 2010

I Received an article today from the Business Examiner that states that people buying homes still spend more time researching their car purchases than they do researching the terms of their home loans. According to the article (linked to here) many people only spend FIVE hours researching the financing for the largest purchase they will ever make.

This information while not shocking is disturbing to me. Selling homes is what I do for a living and one of the biggest parts of the process of buying a home is the financing. There are so many options and variables in obtaining a home loan that for a family to not be concerned about obtaining the best loan for their situation seems to be amazingly short sighted.

Many of the search terms that people use to land on Classic Homes Northwest have to do with financing. I receive many inquiries as to “what the best loan type for me? ” I am not a lender and I encourage everyone who asks this type of question to ask the very question to a quality lender. The funny thing is how few people actually take the time to do this.

Why do people put such little effort into this part of buying a home? Please if you have an opinion on this share it with us here so we can have a conversation about this.

Posted in Buying a Home, Ramblings |