Conference ConNEctions
Rental vs. Homeownership
Analysis Recap

This week's Conference ConNEction featured a Rental vs. Homeownership Analysis. The speakers give insight about the pros and cons of renting vs. owning, tips on knowing when and how to purchase a home and the tools/resources that home buyers should take advantage of.
 
Moderated by John Turner, Manager of Community Development and Research at NIFA

Denise Parker, Homeownership Program Assistant Director and HUD-certified Housing Counselor at Family Housing Advisory Services:
Organization Mission of the Family Housing Advisory Services - To improve the quality of life and eliminate poverty by helping people achieve housing stability and financial security
  • Homebuyer education helps the buying process go more smoothly and makes for more successful home buying
  • Why homebuyer education is important
    • Helps consumers make wiser choices
    • Prepares buyers for the home buying process

"It's a great time to take advantage of a low interest rate. For 30 years you'll have that."

Danielle Swerczek, Senior Account Manager at MGIC:
Many renters say that renting is more affordable than homeownership, while many homeowners say that owning is more affordable
  • 37% of renters believe they have not saved enough for a down payment
    • 62% think they need 20%
    • Many could benefit from homeowner education

  • 82% on non-homeowners say they aspire to homeownership
  • Top two roadblocks to homeownership: rising home prices, lack of funds for a down payment
  • Millennial's spend about $93,000 on rent by time they turn 30

"Education is huge, especially for [a] first-time homebuyer… There [are] definitely resources out there; we just need to make sure they know what they are."

Pat Anderson-Fuentes, Community Builder at NeighborWorks® Lincoln:
"The mission of NeighborWorks® Lincoln is to revitalize neighborhoods and support homeownership, keeping Lincoln a safe and prosperous community."
  • NeighborWorks® has three lines of business
    • Homeownership, real estate development, community-building

  • NeighborWorks® Lincoln helps address code issues by providing:
    • Mold remediation, new roof and gutters, update electrical wiring, replacement of windows and sewer lines

"Be prepared for the problems that arise [with homeownership] because they'll be your problem, not a landlord's."

"Education, education, education is the key. NeighborWorks® has a .1% foreclosure rate and it's all about the education."

August Webinar Schedule
Join us for a series of webinars each week in August. We have a variety of topics with some great guest speakers that are eager to inform you about their programs and resources!
 

Nebraska Investment Finance Authority
1230 “O” Street, 200 Commerce Court
Lincoln NE  68508
Ph: 402-434-3900