Homeownership is a big financial decision. Whether you’re a first-time homebuyer or in the market for a second home, signing the closing paperwork is a big step in your life. In fact, making this step is a goal for most Americans, as 89 percent of adults refer to homeownership as a big part of the American Dream. So why are so many potential homebuyers pressing the pause button on making this a reality? Let’s look at the top three reasons why homeowners delay the process.

1. Student Loan Debt: According to a recent survey, student loan debt is one of the main reasons why adults rent rather than buy a home. In fact, 30 percent of respondents reported knowing someone whose student loans caused them to put off buying a house this year. The survey also found that among respondents with student loans to pay off, 53 percent reported this debt as a serious obstacle. If this is your main reason for renting rather than buying, it’s important to focus on reducing your debt by paying each loan on time—this will prevent any DTI issues in the future and help you get that mortgage sooner.

2. Affordability: Within the same survey, only 45 percent of potential buyers believed that their current neighborhood was affordable for first-time homebuyers, while 56 percent think that rent prices are too high to save money and buy in the future. If you’re pausing the home buying process because of affordability, remember that homeownership offers great tax benefits. Check out a detailed list of these benefits here.

3. Mortgage Process: The home buying process is the third main reason why consumers refrain from buying a home. In fact, almost 70 percent of surveyed adults strongly agreed that “the home buying process is too complicated”—but maybe you haven’t fully introduced yourself to the process. Check out The Ultimate Guide to Homebuying and Financing for a complete breakdown of what you should expect. Maybe the process isn’t as complicated as you thought!

No matter which obstacle is preventing you from buying a home, you should remember that, in most cases, there are ways to get around it. For more information about financing a home, contact one of our mortgage specialists today.