“Since 2011, the share of first-time home buyers has been under the historical norm of 40% as buyers face tight inventory, rising home prices, rising rents and high student debt loads.”That said, if you’re looking to purchase your first home, here are two things you can consider to help make your dreams a reality.
“A first-time homebuyer program can help make homeownership more affordable and accessible by offering lower mortgage rates, down payment assistance and tax incentives.”In fact, as Bankrate says, many of these programs are offered by state and local governments:
“Many states and local governments have programs that offer down payment or closing cost assistance – either low-interest-rate loans, deferred loans or even forgivable loans (aka grants) – to people looking to buy their first house . . .”To take advantage of these programs, contact the housing authority in your state and browse sites like Down Payment Resource.
“Condos are usually less expensive than standalone houses . . . They are also less expensive to insure.”One reason why they may be more affordable is because they’re often smaller. But they still give you the chance to get your foot in the door and achieve your dream of owning and building equity. Beyond that, another major perk is they typically require less maintenance. As U.S. News says in the same article:
“The strongest reason for purchasing a condo is that all external maintenance is usually covered by the condo association, such as landscaping, pool maintenance, external painting, paving, plowing and more. This fee also covers some internal maintenance, such as gas, electric, plumbing, HVAC and other mechanical systems.”Townhomes and condos are great ways to get into homeownership. Owning your home allows you to build equity, increase your net worth, and can fuel a future move.
Savor the Magic of Carnation Cafe with Loaded Baked Potato Soup: A Disney-Inspired Dinner Adventure!
Take care of yourself this holiday season with these compassionate tips from the Trauma Intervention Program (TIP)
Tips and Tricks for a Joyful and Safe Gathering
As a retired Disney Sales Executive with nearly a decade of magical experience, I’ve been the go-to Disney resource for family and friends, even since I bid farewell t… Read more
Are you or a loved one dealing with the aftermath of a reverse mortgage? Read more
Selling a house is a significant life event, and getting the best possible price is a top priority. While location plays a major role, the condition and presentation o… Read more
From Nelida's Kitchen (Cocina)
As we celebrate Homeownership Month in June, it's important to recognize how owning a home can positively impact not only ourselves but also our furry friends. For pet… Read more
As older adults age, their need for home care may become greater. Many adult children of aging parents face pressure to take on a caregiver role as their loved one app… Read more
Providing clients with ultimate bespoke representation, customized marketing strategy, and a culture built on service. Excelling in exceeding expectations for buyers and sellers.