Your Mortgage: Pets and the home buying process

A home purchase is often one of the largest financial decisions a household can make. As dogs, cats, and other creatures have become an integral part of Americans’ daily lives-especially during the pandemic-how pet-friendly an available home is has become a major selling factor for buyers.

A whopping 43% of households would be willing to move to better accommodate their pets! As younger generations wait longer to have children and start families, pets have become a dominant housing priority for many buyers, remaining a deciding factor for home purchases even after children are added to the family.

Not only do pets influence the sale of homes, but they also factor into community choice. 68 percent of homebuyers say that animal policies influenced their decision to rent or buy in a particular community. Animal guidelines are an important aspect to consider in a home purchase for many buyers, and typical pet fees for clients in single-family homes, townhouses, condos, or co-ops is $300 annually. The average cost of pet fees for renters is $400 annually in comparison.

It’s clear that pets are becoming more and more of a priority for nearly half of the home buying demographic, and sellers should take note! If you’re a prospective buyer, ask your real estate agent or loan officer their recommendations for the most pet-friendly neighborhoods in KC, and secure your furry (or feathered) friend’s dream home today!

This weekly Sponsored Column is written by Fountain Mortgage. Located in Prairie Village, Fountain Mortgage is dedicated to educating, and thus empowering, clients to make the best financial decision possible for their situation. Contact Fountain today.

Mike Miles NMLS ID: 265927; Fountain Mortgage NMLS: 1138268