According the NAR 2023 Profile of Homebuyers and Sellers, the median length of time buyers waited to buy a home while saving for the down payment was four years!
The buyers were asked what expenses made saving for a down payment difficult:
52% reported high rent or a current mortgage payment
42% said student loans
36% cited a car payment
31% cited credit card debt
It’s hard to save money in the current economy. But a family that can responsibly manage their cashflow is far better off owning versus renting.
Fortunately, you don't need to wait four years to save for a down payment if you want to buy a house today - we have multiple no down payment options for buyers.
Contact our offices and see what we can do for you.
That's it for today.
Thanks for reading.
Brett
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