Dean and Emily bought their first home in 2017. They trusted The Chad Wilson Group to help them find a home and work through the processes to purchase it. In this video, they talk about the timing of their decision to purchase and why they wish they had done it sooner.
According to the National Association of Realtors, in 2017, adults aged 36 and younger made up the largest group of home buyers, at 34%. Sixty-six percent of those were first-time home buyers and 92% of these younger buyers hired a Realtor so they wouldn't have to make these big decisions alone.
One of the biggest hurdles first-time home buyers have to overcome is financing their purchase. While it is true that some savings must happen in order to close on a home, young buyers often have a misconception of just how much is needed for a down payment.
One of the most popular financing programs for first-time home buyers is an FHA loan, which has less restrictive qualification requirements and often only requires 3.5% down. That can mean just a few thousand dollars for many home purchases. And, best of all, the monthly mortgage payment is often significantly lower than the rent payments these buyers were making.
If you are thinking about buying your first home in 2018, contact The Chad Wilson Group so our experienced agents can help you find the best home for your lifestyle. Our trusted lender partners will provide sound financial advice so you make a wise investment. We are excited to help make your home ownership dreams come true, just like we did with Dean and Emily!