Home Roofing Contractor Free Roofing Contractor Business Plan 4.16 Target Market Housing Stock by Mortgage Status Analysis
4.16 Target Market Housing Stock by Mortgage Status Analysis
The following observations can be made when analyzing the housing stock of Kent county and the state of Georgia when it comes to mortgage status:
- As many as 68% of all the homes in Kent county have a mortgage compared to 64% in the state of Michigan.
- Which of course means that 32% of all the remaining homes in Kent county do not have a mortgage as compared to 36% statewide.
This discrepancy is not insignificant. Typically as homeowners buy a home and work towards paying off their mortgages, they are in their prime working years. Thus there is a very high relationship between mortgages and household income. While it is true that senior citizens may choose to take out a reverse mortgage to supplement their income from social security, the vast majority of folks who have paid down their primary mortgages tend to be folks who are close to retiring.
The higher percentage of homes with mortgages in Kent county is good news for James and Carmine of Dependable Roofing. If this analysis is combined with the analysis about the year in which the householder moved in to their home and the target market population and household statistics, it becomes very clear that on balance there are more folks in Kent county that are able to earn an income and are wage earners. Wage earners tend to have the disposable income needed to be able to afford the roofing contracting repair and replacement services provided by Dependable Roofing.
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- Go to the Corresponding Template section for this industry.
- Go to the Corresponding Questionnaire section for this industry.
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