Did you know that first-time buyers comprise 38 percent of total homebuyers? But, who are these first-time buyers and what do they want? The infographic below provides a snapshot of what first-time buyers look like and what they want out of a home. It was interesting to find out that over a quarter of first-time homebuyers admit that part or all of their downpayment was gifted to them by a family or friend, and over half of first-time buyers say their main reason for purchasing was to own a home of their own.
On the downside, because many first-time buyers are Millennials, they typically have school loan debt that prevents them from purchasing real estate. However, all is not lost, because there are so many assistance programs like the Opening Doors' First-Time Buyer Down Payment Assistance Program and these that are available to first-time buyers and help make homebuying more affordable. Take a look at the infographic below and get to know a little bit about first-time buyers.
If you're interesting in finding out more about your real estate options as a first-time buyer, don't hesitate to give me a call today: 714) 801-0175 or email me at LindseyActon@att.net. I encourage you to follow me on Facebook to stay up-to-date on important real estate news, including new assistance programs that could help you make your homebuying dreams come true. Don't miss out!