Akron Life November 2023

H o w to BUY A HOUSE

Local experts share tips to help demystify and overcome the barriers to buying a home. By Jill Sell

W hen he was young, Akron Cleveland Association of REALTORS® (ACAR) Trea surer Drew Gaebelein, a REALTOR® with eXp Realty in Westlake, visited his grandmother every Sunday. She lived in Euclid, “three houses from Lake Erie,” recalls Gaebelein. “We would just have fun playing on the beach by the lake and I thought it was nor mal for every kid to have that wonderful opportunity,” says Gaebelein. “Recently I had a client who gave me a list of things she wanted in a house and

owner-occupant purchases. In addition, EDCOR administers a low interest home improvement loan program. Programs like those help hopeful homebuyers -— fi rst time buyers as well as second or third-time buyers — get the keys to their new home. WHAT ARE THE BARRIERS TO HOMEOWNERSHIP? A number of barriers exist that can cre ate roadblocks for potential homebuyers, including credit and fi nancial issues. In a recent survey, 47% of millennials consid ered high interest rates to be obstacles to

community. Euclid fi t her budget. Euclid has a lot going for it. It’s a big city with great housing — bungalows, Craftsman-style homes — built with incredible materials. There are also parks and new access to the lake with a new pier and a lakefront walk way,” says Gaebelein. The City of Euclid also provides oppor tunities to make homebuying in the com munity more affordable and convenient for individuals and families. The Euclid Development Corporation (EDCOR) of fers a fi rst-time homebuyer down pay ment assistance loan program for eligible

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2 ACAR Akron Cleveland Association of REALTORS ®