Angie's List: Home Ownership

Home ownership is at its lowest level since 1965.

Home ownership is at its lowest level since 1965, but not everyone wants to rent. Many people have embraced home remodeling.

While the National Association of Realtors says the median age of first-time homebuyers is 31 years old, Matthew and Erica Waggoner got in the game in their mid-20s, and after living in their first house for five years, bought and renovated a 1920's residence.

Erica Waggoner, Homeowner, "I can tell you Matt and I were not one of those people that ever thought we would do this, ever. We had some friends that renovated a home, so we got to see kind of what they were doing."

Before jumping in, the couple with two young kids made sure the numbers made sense.

Angie Hicks, founder of Angie's List, "When considering how much you can afford in a house, remember to look at the big picture. It's not just the mortgage. It's the insurance, the property taxes, and as a rule of thumb, homeowners spend about 3 percent of the value of their home in repair and maintenance each year."

The Waggoners added 1,000 square feet and an open floor plan that suited their needs.

Matthew Waggoner, Homeowner, "We're a family that loves to host, and so having the ability to have 20 or 30 people in a room, we absolutely love."

The couple did what they could, but knew when to go with a pro.

Erica Waggoner, "If you don't really know what you're doing, I mean Matt and I both just wanted to go the route where we hired someone because that's what their expertise is."

The remodel brought some cross-generational pride from Matthew's 92-year-old grandfather, who visited throughout construction.

Matthew Waggoner, "He said, 'I'm so proud that you're so proud that you've made this a home."

While buying a house is often an emotional decision, regardless of age, Angie says to always keep a level head so you can make the right choices.



Local News That Matters

Local Sports

Your Local Weather Authority

Good Day Live

Trending Stories

Latest News

  • Stolen Vehicles Recovered
    Copyright 2018 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

    Stolen Vehicles Recovered

    A search warrant issued out of Vermillion County led to the discovery of several stolen vehicles.. that had been reported stolen within the last four years.

    Read More »
  • 13th Annual Women's Wellness Expo

    13th Annual Women's Wellness Expo

    It was ladies night in Vincennes Tuesday, as a local hospital put on a special event that promotes fun and health for local women.

    Read More »
  • New Human Trafficking Law

    New Human Trafficking Law

    A human trafficking victim could be right down the street from you right now, and you wouldn't even know it. It isn't always easy to spot, but it's happening right now across Indiana.

    Read More »