Home helps young Americans in their real estate projects
Foyer, a new American real estate start-up, announced that it had raised funds to improve its platform. Home offers help to Americans who want to buy their first home but who face the difficulties of the market and the purchasing process in the United States. The start-up does not claim to solve the problems of access to the property but hopes above all to restore confidence to the buyers.
FACTS
U.S. start-up Foyer closed a $6.2 million fundraiser to help U.S. assets gain easier access to private property.
Home helps buyers on their home purchase journeys, from savings to the sale act.
In concrete terms, start-ups encourage individuals to save early and on a regular basis, while having a specific objective. It is therefore possible to deposit money on the platform or to set up automatic levies to automate savings.
During the savings phase, Foyer offers rewards to push buyers to save as much as possible. These rewards can be converted into dollars at the time of the deed of sale and thus complete the contribution for the loan.
The start-up will also facilitate the search for aid according to the state of residence, and accompany buyers in their negotiations of mortgages and mortgages.
Regarding its economic model, the platform is free but offers a premium model. It also pays off by offering professionals (real estate agents, etc.) to become partners in the start-up and thus become recommended interlocutors for buyers.
ISSUES
Fight against the waiting time of first-time applicants: Home found that property accessibility had been at the lowest in the United States for 40 years. The cost of living increases faster than wages, which increases the time needed to save enough money to buy. In addition, mortgage interest rates have also increased significantly. The situation can quickly become discouraging for young Americans. Foyer therefore wishes to help these individuals through its solution.
Connect buyers with sensitized lenders: Home attempts to recommend professionals sensitive to the situation of young people. The aim is to ensure that purchasing procedures are tailored to the buyer's financial capacity and knowledge of the process. Indeed, the difficulty is also in the complexity of the procedures, which buyers may find themselves deprived of.
PERSPECTIVE
Home justifies its position by pointing out that 44.6% of young people in Generation Z in the United States want to become owners quickly but consider the purchasing process as an obstacle, especially in its understanding.
Real estate is also evolving in France as the first real estate transaction in bitcoin was completed at the beginning of the month. Validated by a notary, this transaction shows that the blockchain's potential can extend to a wide range of sectors up to real estate.
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