Fixing a broken home buying model

Something here is broken :/

Homeownership is an opportunity for you to grow wealth, stop renting, and satisfy your needs at various life stages. These are a few of the many reasons why you may consider buying a home, but the truth is, the process to do so can be cumbersome. Given the technology available today, we believe home buying is broken. But, it can be fixed!

This year, with rock bottom interest rates, homebuyers have been incentivized to buy a home during the pandemic. However, coupled with low inventory for sale, this has fueled record high home prices. Bidding wars and offers with little to no buyer contingencies became the norm, especially for single family homes. The budget conscious home buyer in this scenario was left out.

It doesn’t help that home buying today is riddled with bad experiences (you can read about some here). Many home buyers complain about having a painful experience, citing the slow process, lack of transparency, and difficulty navigating multiple handoffs between agent, lenders, real estate attorneys, and home inspectors.

This is where Nuhom comes in. Nuhom has created a seamless online home buying experience that puts the homebuyer first.

Making home buying more affordable for you

Traditional agent vs. Nuhom

Nuhom is able to do this because it recognizes that today most (7 out of 10) homebuyers find the home they want to buy by searching on Zillow or Redfin and going to open houses. Much of the process in finding a home is now in the hands of the homebuyer themselves and not the agent. Homebuyers best know what they want in a home and see it well before an agent might. With the agent commission fee still being the largest transactional expense when buying a home, Nuhom believes giving back half of the buyer agent’s fee to the buyer for their search efforts is the right thing to do. Buyer agents are quick to explain to buyers that they pay nothing to the agent to purchase the home, but we consider this untrue. See our write-up on how the buyer’s agent commission is just built into your purchase price.

Additionally if you work with a Nuhom preferred lender, its possible that you could save an additional $500. With average total savings of $8,000, you can choose to cover a significant part of your closing costs or stretch your offer price to better compete against other buyers.

Searching for homes, but by what you can afford

Homebuyers comprehend the monthly cost to own a home better than just looking at a home’s asking or sticker price. Current renters especially appreciate this perspective. How much will it cost to own this home? After I budget that in, with my income, how much money do I save per month to put towards fun trips, family expenses, or savings? These are the questions buyers want to answer early on in the search process.

Nuhom is building helpful budgeting tools to help homebuyers find homes they can afford.

Search homes and filter by your budget:

We are making how you search for homes fit the needs of homebuyers today

Finding the right home for you

Buyer on-boarding:

We are improving how you decide what is a need vs. a want in your home

Submit an offer online, on your terms

So, in a seller’s market today, having the ability to write up an offer at a moment’s notice can be the difference between getting the home you want or missing out. Time is indeed of essence.

Make an offer online:

With the right guidance we are empowering the home buyer to make an offer when ready

Lenders, attorney, and home inspectors all under one roof for you

Nuhom’s core is the homebuyer. Nuhom is creating a buyer-first digital experience that is re-thinking how people buy homes. We are making it more convenient, faster, and rewarding for the modern homebuyer. Learn more at www.nuhom.co

Making home buying more affordable, simple, and transparent. Buy your home online and save 50% of the buyer agent commission with us.