Area Real Estate News & Market Trends

You’ll find our blog to be a wealth of information, covering everything from local market statistics and home values to community happenings. That’s because we care about the community and want to help you find your place in it. Please reach out if you have any questions at all. We’d love to talk with you!

July 12, 2019

Three Reasons To Avoid Using Zillow

We’ve all seen the advertisements online and television for Zillow, which purports to put the power of home buying into the hands of you, the consumer. But is it true? Is Zillow the Amazon.com of real estate? And what exactly is a “zillow” anyway? (The closest we could figure is when a zebra and a willow tree have a baby).

Should you use Zillow for your real estate needs? We’re going to say no, but we’ll tell you why we here at Meridian Realty Group don’t recommend it for anything beyond the most casual of browsing:

Reason 1: Unverified and Often Incorrect Home Information

From square footage to ownership, interior details to acreage, the information Zillow pulls from whatever databases it uses will get a lot of details wrong! Even worse, many of the homes that Zillow suggests are “for sale” are nothing of the sort. This means that instead of getting a legitimate search for homes that meet your needs and are available for you to purchase, something that any legitimate real estate agent can provide, you waste your valuable time looking at properties that may have already sold, don’t have the specific amenities and attributes you need, or were never available in the first place! Additionally, since some real estate agents pay Zillow to advertise on their site, the agent listed for the property is rarely the actual listing agent, but a third party who knows nothing about the home.

Reason 2: Zillow’s “Zestimates” are really quite “Zerrible”

Zillow offers a branded estimate called “Zestimate” that suggests what home values may be, and if you’re a homeowner considering putting your home up for sale, you may think this could be a valuable tool. It would be, if it was based on reality! However, these “Zestimates” are algorithm-based and have been determined to be inaccurate by as little as $14,000 every time. This means that many times they’re off by more than $14,000! This means that if you’re trying to get any sense of the value of your home, using Zillow is going to end up being quite “Zinaccurate” and you’re better off talking to a legitimate real estate agent who can help you determine your home’s value with tools that will provide you with a better sense of what purchase price you can get.

Reason 3: Spam, Zillow-style

At the end of it all, Zillow is a business, and that business makes its money by selling any data you provide to every single real estate agent who’s willing to pay for it. This means that when you submit your information to do a search on their site, you will get inundated by emails, phone calls, texts, and messages by carrier pigeons, all from hungry real estate agents wanting your business. Most buyers and sellers we’ve worked with appreciate having one agent on their side who works closely with them, knows their needs and goals intimately, and is more about quality than quantity.

Meridian Realty Group isn’t going to tell you not to use Zillow. But we will say that if you want a better experience buying or selling your home that’s accurate, focused on your needs, and about you, not about a mass marketing experience, contact a local agent instead. You’ll be much, much Zappier.

July 3, 2019

Don’t Get In Too Deep: All About Swimming Pools

Living in the Central Florida area, it seems like every other house has its own swimming pool. At the same time, we hear plenty of horror stories about building, installing, and maintaining a pool. Is it worth it? We’ll break down the pros and cons of having your very own watering hole in your backyard.

Swimming Pool Pros:

  • They’re fun. Modern swimming pools have gone above and beyond the amenities that used to be found in 1970s pools. Gone are the painful slides that gave you burns if you didn’t have enough water running down it and the diving boards that terrified every parent. Now, pools have built-in underwater speaker systems, advanced current generation for exercise, heating elements that work quickly, tanning shelves, fire and water features, waterfalls, swim-up bars, and more! But even if you just have the standard swimming pool, you’ll have a place where everyone wants to hang out all year long in Florida, and there’s nothing more relaxing than diving into your own pool after a long day.
  • They’re not as hard to maintain as everyone says. Pool cleaning companies are relatively reasonable, given the knowledge and work they put in, but even if you choose to do it yourself, a little research and education will mean that you’re ready to make sure your pool stays clear and clean.
  • You have plenty of options. Do you just want the standard kidney-shape? Easy. Do you want to design a giant concrete pool that looks like it belongs in a hotel? Just as easy. How about a multi-level pool that feeds into a hot tub? No problem. Pool companies come with dozens and dozens of options, and if you’re particularly creative, you can customize the design yourself!

Swimming Pool Cons:

  • They can be expensive. You’re going to be making a sizable investment when you consider not only the pool, but the excavation, construction, deck, added elements, additional landscaping, screens, porches, fences, and other aspects all combined. Don’t install a pool if you’re trying to bring value to your home for resale later. Do it if you feel like the investment is something you’ll benefit from personally while you live there.
  • They do need to be constantly maintained. You can’t take a six-month cruise around the world (do people do that?) and come back to a perfect pool. The wrong combination of chemicals, not enough cleaning, even enough big storms can all upset the quality and balance of the pool.
  • It’s your OOL. Keep the P out of it. Not everyone is going to treat your pool as well as you will, and if you become party central once you install it, you may have to set some ground rules pretty quickly to make sure that your friends and your friends’ friends respect your home.

Especially in Florida, a pool can be a welcome respite to a hot day, and floating around listening to music is a great way to wile away a weekend. But before you dive in - see what we did there? - and install a pool in your backyard, make sure you are informed and make the right choice for you and your family.

Have questions about what a pool can do for you, and how it affects the value of your home? Call Meridian Realty Group today and we can help you figure out if it’s the right choice before you sell!

June 11, 2019

10 Summer Maintenance Tips Every Homeowner Should Know

Part of owning a home is maintaining it, so that you and your family have a safe, well cared for place to live that you might eventually sell and hopefully recoup your investment. Here at Meridian Realty Group, we want our new homeowners to know how to best take care of their new homes, so here are ten handy tips for maintaining your house in the summer.

  1. Get your AC system serviced. While this is something you can choose to do in the early spring when AC companies are not as busy, the summer is when it’s truly beneficial.
  2. Change your air filter. This isn’t just a tip for summer - you should be doing this every month when you use your AC unit regularly (or if you have pets), and every few months otherwise.
  3. Check your attic. Do this in the early morning before it gets too warm up there, but the summer is an important time to check your attic or crawlspace for holes, mildew, rotting, and pests. It’ll be important to fix any problems before the heat just exacerbates the problem.
  4. Get your ceiling fans ready. Clean them off, make sure they’re balanced, and make sure they’re blowing in the right direction! You want your fans to spin counterclockwise to ensure that they push the air down and help keep your home cool.
  5. Clean your dryer vent. Lint and dust trapped in the vent and exhaust duct is a fire hazard, especially if there’s a dry heat.
  6. Prep your grill. If you have a charcoal grill, empty it and wipe away residue and use a sponge, hot water and soap to clean the inside and outside thoroughly. Gas grill users, just turn the heat up high and let the grill cook off any residue. Once it cools, sweep the grill with your brush and then clean out the trays.
  7. Mulch your plant beds. Mulch can help soil retain moisture during the hot months.
  8. Check for holes in your home. When it rains this summer, especially during hurricane season, that downpour can send outside animals scurrying for safety, which means they will look for any way to get into your dry, comfortable home. Unless you want to open your house to everything from snakes to mice, cover up any holes that you find, trim your tree branches so they don’t give easy access to the roof, keep yard debris and firewood stacks away from your home, and keep your trash cans tightly covered.
  9. Empty your gutters. Warm rotting leaves and debris is a perfect breeding ground for all types of creatures, so you should make sure your gutters are cleaned regularly.
  10. Have your roof inspected. Make sure you know how long ago your roof was installed, and inspect it annually, or after any big storms. If you can catch a potential roof leak before it happens, you’ll save yourself a lot of trouble!

There are plenty of other things you can do to make sure your home looks and stays nice, from pressure washing to resealing your deck to keeping your lawn well-maintained, but these 10 tips are a great start! When potential sellers ask us to help them sell their homes in Ocala and surrounding Marion County, we can tell when someone’s maintained their home over the years, and when they’re hoping we won’t notice, so it’s important to care for your home regularly, frequently, and meticulously!

April 30, 2019

Five Reasons To Use a Property Management Company

Owning investment property is one of the most financially lucrative and secure actions you can take, but once you own it, how do you maximize your income and minimize your stress? A property management company. A real estate agency like Meridian Realty Group can be the perfect property manager for your investment property and properties, and here’s why:

Finding The Right Tenant

An experienced property management company knows all of the red flags, tricks, warnings, and other concerns to be wary of when finding a tenant for your property. By screening your potential tenant while also being mindful of equal rights housing laws and anti-discrimination laws, they maintain a consistency that’s necessary for your legal safety and protection as well. Access to respected credit and background check programs provides further incentive to use a professional.

Knowing Your Legal Rights

Landlord-tenant law is a complicated labyrinth of deadlines, paperwork, proper notice and extremely specific timeframes that all must be followed to the letter. Failure to adhere to what might feel like the most minor rule could give a tenant options that can cost you significant amounts of money, effort, and time. Meridian Realty Group knows how to keep the good tenants, and in the rare case of a tenant who turns out to be a bad apple, knows how to properly end the landlord/tenant relationship.

Maximizing Your Income

The professional property manager can fill a vacancy faster, earning you more rent in less time. With faster turnaround when it comes to cleaning and repairing your home after a lease ends, property management companies can ensure that the new tenant is found quickly and has a pristine home to move into. Additionally, having access to valuation records means that your property manager will know just the right rent to ask - not too much and not too little.

Getting The Right People For The Right Job

A local real estate agency like Meridian Realty Group knows everyone who’s worth knowing. Need to have trees trimmed? We’ve got a guy. Want a professional house cleaner? We know someone. Does a tenant need an emergency plumber on a holiday weekend? One phone call from us and it’s taken care of. With a roster of people in the area who are reasonably priced and do great work, a property management company will figuratively save your life time and time again if things go wrong (which they occasionally do) with your investment home.

Less Work For You

Owning investment property isn’t quite like planting a money tree, but it’s also not supposed to overwhelm you with work. Hiring a professional to take care of the property, keep it occupied, and maintain it will relieve your stress and improve your life. Plus, with all of that free time, you’ll be able to start looking for your next investment property, and guess who can help with that, too?

Whether you currently have an investment home or are considering getting one, Meridian Realty Group is here for all of your needs throughout Marion County, Ocala, and the surrounding areas. Contact us today for more information!

April 27, 2019

Nine Ways to Add Value To Your Home (And Five Ways Not To)

A home is many things. It’s a place where memories are stored, from height markers on the walls to myriad family photos taken when the sun hit the backyard right. It’s a rite of passage, learning about the ins and outs of ownership and the things you never learned in school, like changing your HVAC filter frequently and why smoke alarms only warn you about battery failure at 1 AM. And a home is an investment. While it wasn’t uncommon for older generations to build, live in, and die in the same home, modern families move, upgrade, and change from home to home over time. Your house should be your investment, and when you do decide to move to a larger home or a new location, you should not only recoup the money you’ve put into it, but earn some as well.

How do you add value to your home, though? We’ll give you nine easy ways you can improve your house’s value, and three ways not to:

LOW BUDGET

Fix your yard. The first thing a prospective buyer will see is the outside of your home. Start early by planting local saplings that will grow over the years, and planning out shrubs that will turn into hedges within a few seasons. Keep your landscaping simple but clean. If you put too much time and money into landscaping, you’re unlikely to see a return on your investment, so it’s important to stick with something that’s low maintenance and easy to keep up while also looking great.

Paint. A fresh coat of paint, inside or out (or both), can transform a house. That faded, worn look will be replaced with a clean, new look that will appeal to a buyer. Stick with light and neutral colors - no matter how much you like the color neon yellow, you’ll probably be alone in your enjoyment of it. Don’t want to paint? At least pressure wash the exterior sidewalks and walls of your house (if the material is resistant to pressure washing).

Make small changes. There are a lot of little tweaks you can make here and there that will update your home, improve its value, and make you feel accomplished on a low budget. Switch out light switches and fixtures, update your fans and thermostats, paint or change your vents, even get rid of that old popcorn ceiling!

MID-SIZED BUDGET

Floors and walls. Get rid of that old wallpaper. Switch out carpet for tile, which is preferred by everyone other than old ladies with cold feet. Add in some nice area rugs and throw out any old ones, or put them in your garage to catch any leaks from your car.

It’s the little things. That squeaky hinge. That door lock that always sticks. The drippy faucet. The window with the draft. Take the time to fix all the odds and ends that you might be used to, but a new potential owner will notice right away. You’ll be amazed at the value this can add.

Update the room. Bathroom and kitchen updates have the biggest return on investment when it comes to the time to sell. Better lighting, good mirrors, and updated fixtures in the bathroom can be reasonable yet absolutely transformative. A new kitchen countertop and updated appliances not only have the potential to sell your home all by themselves but the energy efficiency will save you money as you live there too.

LARGE BUDGET

Windows and doors. Why have old colonial-style windows when you can have beautiful double-pane windows that let in more light? Better yet, floor to ceiling windows can bring in the natural light and improve your home value even more. Change out your doors for fresh, modern looks that haven’t been around since the 60’s. Try sliding glass, French doors, and more.

Restructuring. Tearing down interior walls to open up space in the common living area is a great way to make a home look bigger and improve its saleability. Do you have too many bedrooms? Tear down a wall and make two of them into a suite. Add another bathroom. Improve your closets. Raise the ceiling. (Which is different to raising the roof, something you only do when the right music is playing.)

Smarten your home right up. Want to add value and bring your home into the 21st century? Rewire the whole home and turn it into a smart home. Use an app to turn on lights, check to see if the dog ate the couch again, monitor the thermostat, make sure nobody left the refrigerator open, and set the temperature so it’s comfortable for you when you return home. A smart home that ties all functions into one easy device is a great feature that modern buyers love.


Now that you’ve got some ideas how to improve your home’s value, here are a few ways not to:

  • Make the house look bigger by installing fun-house mirrors in every hallway.
  • Improve the lighting by replacing ceiling lights with disco balls.
  • Adding mystique by hiding an entire section of your home behind a movable bookcase.
  • Go ultramodern with those Japanese toilets that have a million functions and talk to you.
  • Remodel your kitchen by building a Chick fil A franchise inside instead.

Do you have questions about the best ways to make your house more marketable and increase its value? We’ve got answers. From curb appeal to home improvement ideas, if we don’t know the answer, we’ve got a vendor or expert who will! Our job here at Meridian Realty Group is to ensure that you get the biggest return on your investment, no matter your budget!

April 24, 2019

School Zone Search - Find The Perfect Home in the Perfect Zone with Meridian Realty Group


Parents, you know how it is. Kids - can’t imagine life without them, can’t wait until they learn how to shower and use deodorant consistently. Children add a wonderful complication to life, and that includes looking for a new home!

It’s not enough to find a place that’s big enough, with enough rooms for your children (and you) to have a little privacy and space, where you’re not stepping all over each other, in a neighborhood where you can shoo them out of the house and tell them to go play outside like you used to do when you were a kid (while walking uphill both ways to go to school in the snow), within a price range that will still let you take romantic vacations once they’re old enough to move out. You also have to worry about school zones.

The wrong school zone means that Tiberius Ulysses Farnsworth III might not get the education he needs, which means that he might never move out of the house, and you’ll still be making him grilled cheese when he’s thirty. The right school zone means that he’ll have the guidance, support and education to learn how to make grilled cheese by himself. Hopefully before thirty.

The situation gets even more complex when you have kids going to different schools. Tiberius in elementary school, Khlourtney in middle school, Kylo Ren in high school. Trying to find the perfect home in the perfect spot where all of the best school zones for each different school overlap is like juggling three kids, literally. And since the county updates the zone maps annually, getting up-to-date information can be a bigger hassle than trying to figure out the difference between the Florida Department of Education’s grading system for each school.

So, what’s the plan? What are you going to do? How do you handle making sure your children have a future without driving you crazy in the interim?

It’s simple: Meridian Realty Group. We have access to technology that allows us to customize a search so specifically that it can find the homes that match your needs - not only the space, amenities, and floorplans you want, but in the school zones that are best for all of your children, even the ones who aren’t old enough to have started school yet. We are experts in our field and can help you navigate the labyrinth that it can be to get the best education for every child.

If you’ve been contemplating a move but dreading the logistics and the time involved in trying to find the right home for your family before the new school year starts, now’s the time to call Meridian Realty Group. This is what we do, and we do it well. Mostly thanks to going to school in the right zones from the beginning!

March 24, 2019

Self-Sabotage: How Not To Sell Your Home!

We give plenty of advice on the right things you can do to make your home approachable, attractive, and sellable to potential buyers, so here at Meridian Realty Group we thought we’d put together this mildly serious and mostly tongue-in-cheek list of things NOT to do if you want to sell your house.

Here are 25 things you definitely should never do if you ever want to sell your home:

1. Have 10 cats and never change their litter.

2. Paint the exterior of your home with neon orange poster paint.

3. Let your lawn grow to jungle-level height and play velociraptor sounds when anyone approaches.

4. Invite 100 of your favorite circus performers to camp in the backyard for free.

5. Decorate for Halloween . . . in January.

6. Go to Goodwill, buy everything, and stick it all in your closets.

7. Four words: 24/7 Dance Party!

8. Aspire to have the world’s largest collection of free roaming roaches.

9. Remake the front of your house to be a replica of your face ala Mount Rushmore.

10. Dig a moat by hand and fill it with alligators. Let them get hungry.

11. Remove all exterior doors and replace them with those beaded curtains everyone used in college dorm rooms.

12. Get larger windows. In fact, replace all your walls with sheets of transparent single-pane glass.

13. Is there oil in your front yard? How will you know unless you dig for it?

14. Rewire your house so that random handles, doorknobs, and beds give “fun” shocks.

15. Four more words: Real Live Ninja Hedge!

16. Rent out your home on weekends for meetings of your local Angry Loud Complainers About Nothing Society. Make the contract unbreakable and lasting in perpetuity.

17. Replace your shingles with singles.

18. Replace your shingle singles with Pringles.

19. Intermingle your shingle singles and your shingle Pringles while singing a jingle.

20. Hire a large man to walk around your home at the top of every hour shouting “This is Sparta!” whilst wearing nothing but gladiator underwear.

21. Install an escalator that’s always out of service. Direct people to the elevator instead. Make sure the elevator is always out of service too.

22. Four more more words: Fireworks Every Fifteen Minutes!

23. Convert your staircase to a slip and slide.

24. Put a “FSU - Go Seminoles!” sign in the front yard.

25. Four final words: Walls Filled With Mayonnaise!

If you read this list and think to yourself “But what if I actually DO want to sell my house? What do I do then?” there’s a simple answer, with only one response:

1. Call Meridian Realty Group at (352) 547-4929 today!

Posted in Tips for Sellers
March 17, 2019

Top Five Reasons to Move to the Ocala Area

If you’ve been considering a move to North Central Florida (Marion County and surrounding), but are weighing the pros and cons, Meridian Realty Group wants to help with that decision! Here are five great reasons to move to Ocala.

1. You like horses? We’ve got horses!

Did you know that Ocala is the horse capital of the world? Ocala and Marion County are home to over six hundred thoroughbred farms as well as the 500-acre Florida Horse Park, an official training site for the US Equestrian Team and a venue filled with regular horse-related events with an international scale.

2. So much land!

You’re probably sick of McMansion homes on tiny lots in big cities where you can pass a roll of toilet paper to your neighbor between your bathroom windows, and we don’t blame you. With plenty of acreage, and lots of space, you’ll finally be able to stretch your legs without hearing Bob and Margaret fight over the TV remote again.

3. An unrivaled local art and vendor scene

The number of farms, artisans, craftsmen, and professional hobbyists living in North Central Florida means that you’ll never be far from a farmer’s market, independent fruit or vegetable stall, or craft fair. You can support your local economy and enjoy some amazing homegrown food, works of art, and more!

4. In the middle of everything

Theme parks, national parks, zoos, beaches - all of these fantastic attractions are only a hop, skip, and a tiny drive away. The best part of North Central Florida is that it’s, well, central! Whether you want to head into Orlando, check out Gainesville, visit Crystal River, or visit Daytona Beach, you’ll find it all within reach.

5. The last bastion of reasonable home prices

With the average home prices being lower than the urban areas of Florida, you’ll get more bang for your buck, more square footage for your simoleons, more property for your pennies . . . okay, you get the point. Meridian Realty Group is ready to work with you to establish your parameters and find you that perfect affordable home.

Ready for your big move? Contact Meridian Realty Group today if you have more questions about the life, culture, and economy of Ocala and all of North Central Florida!

March 10, 2019

For Sale By Owner: Myths and Misconceptions

DIY enthusiasm is huge in today’s world thanks to YouTube tutorials, how-to guides, and shows that hearken back to Bob Vila.

Want to install a sink? Do it yourself!

Need to replace your brakes? Do it yourself!

Building a laptop? Do it yourself!

It’s not that simple when it comes to selling your home, although you might not know it from all of the “self-help” articles out there. There are several hard lessons to learn that will cost you time, money, and energy . . . or you could just read this! Here are three myths and misconceptions about selling your home on your own:

Myth #1: Selling without a Realtor® will save you money.

On its face, this seems reasonable. If you sell it yourself, you won’t have to pay the seller’s commission that a real estate brokerage would charge, saving potentially tens of thousands of dollar, right? Wrong.

Houses sold by owner will sell slower than a house sold by an established brokerage, which means that the market fluctuates, your price will drop, and any savings you might have seen will be eaten up quickly, costing you more money in the long run. This doesn’t even consider the fact that the online valuation tools FSBO sellers use are usually inaccurate, resulting in either pricing your home too low and losing money or too high and losing a potential sale. So, instead of saving tens of thousands of dollars, you’ll have lost both time and money.

Myth #2: It’s easy to market your home for sale.

Everyone has that one house in their neighborhood that has the “For Sale” sign from Home Depot in its front lawn with the phone number scrawled across it desperately in black Sharpie. Ask them how easy it’s been to market their home, and they’ll tell you. Craigslist? Filled with dead ends and people who don’t show up for showings, wasting your time immeasurably. Facebook? Who knows how the algorithm will affect your ability to showcase your home to your 280 friends, none of whom want to buy it anyway?

Not only do real estate agencies have access to databases of homes for sale that target thousands of people who are looking for a home just like yours, but they know how to properly market your home. A qualified broker will take high quality photos, stage your home to appeal to the broadest possible audience, and use resources to which you don’t have access. When your whole job revolves around showing homes to people who want to buy those homes, it’s the real estate agent’s prerogative to be a true expert.

Myth #3: An agent is only out to make as much money as possible for themselves and the other agents.

This might be one of the most frustrating myths out there. The real estate agent’s job is to get you the best deal in the market. Does an agent make money off of a sale? Of course! It’s their job, but they get rewarded the better they do their job. That’s why commissions are a percentage of the final sale price and not a flat fee. Agents are motivated to help you, because helping you helps them.

Beyond that, though, selling your home can be a personal journey. A good Realtor® will be equal parts your agent, your therapist, your friend, and your advisor - you develop a connection with them that means you’ll return to them for future real estate needs. It becomes a mutually beneficial relationship that can last decades, and that goes well beyond something as simple as “making money.”

Real estate is a specialized profession, and those who go through the process to be educated and licensed are experts in the field. Who wouldn’t rely on that expertise to sell their home, getting the best deal, the best marketing, and the best result? (It’s a rhetorical question, but the only answer is obviously someone who doesn’t actually want to get a good price for their home. Obviously.)

Feb. 28, 2019

Don’t Make These Typical Home Buying Mistakes!

You’d think that buying a house would get easier the older you get. Sure, you’ll probably make a few mistakes the first time you buy a house when you’re young, full of hope and promise for the future, but by the time you’re on your second or third house, older and hopefully wiser, shouldn’t you be a pro? Surprisingly not. Over our years of experience, we’ve seen mistakes in home buying that changes from generation to generation, and some of them aren’t as easy to avoid as you’d think. Let’s break it down from the oldest to youngest generations.

The Silent Generation (Ages 74+)

While our oldest living generation is unlikely to start the homebuying process, it does happen occasionally, and it’s rarely a good financial decision. Even if they’re planning on getting out of the cold and moving to Central Florida, there are a wide range of options that might be better for both short-term and long-term planning than a 15- or 30-year mortgage. The biggest risk taken by this generation tends to be poor financial planning for their future, including being taken advantage of with so-called “reverse mortgages”.

Baby Boomers (Ages 55-73)

In many situations, baby boomers have paid off a house completely and will sometimes make the mistake of buying a second one as well as a vacation home. Eventually, they fall in love with the vacation home’s location and want to move there permanently. This leaves them stuck with a mortgage they don’t want in an area where they don’t want to live anymore. We recommend starting off slowly with a vacation home, and exploring temporary rentals or time shares until making the choice to move permanently. Relocating can be costly and hard to do again once you reach a certain age, so prudence is a good idea.

Gen X (42-55)

This generation tends to overestimate their budget. They’re ready for a big home with all of the amenities they dreamed of in their 20s, so they are willing to consider a bigger mortgage than they should. While this might not be a problem at first, twenty or thirty years down the road it could present a whole host of difficulties.

Millennials (24-41)

The youngest home-buying generation finds itself in a financial trap many times by getting Adjustable Rate Mortgages (link this to ARM post), or ARMs. While this is initially appealing because of the low interest rate at first, once it starts increasing, unless their income increases on the same scale or better, it can turn into a challenge to make the monthly mortgage payment. ARMs have a lot of risk and no guarantees, and we usually recommend that a fixed rate loan is a better option for a buyer’s first mortgage loan.

Generation Z (6-23)

The only houses they’re probably buying are in-game purchases and action figure and doll sets, but if we were to guess what future issues might arise for Generation Z, it’ll involve the volatility of emerging cryptocurrencies, which will seem attractive because of their low barrier to entry and capabilities without using banks or loan companies to finance the purchase of a home. Or maybe their biggest problem will be building fences strong enough to keep the zombie hordes out. Only time will tell.

Whether you’re considering purchasing your first home, or you’ve bought a dozen, it’s important to use caution and to seek out the input of an expert before any purchase this size. Here at Meridian Realty Group, we can advise you on the best way to invest in a home that can help you avoid the many pitfalls of buying and owning a home. Contact us today with your questions.

Posted in Tips for Buyers