Home Buyers – What Would You Give in Order to Buy a Home?

Yogi Berra said he’d give his right arm to be ambidextrous. While most first-time home buyers are not going to that extreme, it is interesting to see what sacrifices are being made according to the National Association of REALTORS® 2016 Profile of Home Buyers and Sellers.Home Buyers - What would you give up

  • 43% - cut spending on luxury or non-essential items
  • 34% - cut spending on entertainment
  • 27% - cut spending on clothes
  • 14% - canceled vacation plans
    9% - earned extra income through a second job
  • 7% - sold or decided not to purchase a vehicle
  • 44% - did not need to make any sacrifices

Forty-percent of first-time buyers experienced some difficulty during the mortgage application and approval process. Single, male buyers expressed a higher incidence of difficulty than single females and married or unmarried couples.

Pre-approval from a qualified mortgage lender before the home search process begins is still considered the best advice for all buyers who will purchase with a mortgage. Many home buyers I work with try to begin with a pre-qualification and realize, once they are under contract, that it was the best route.  Avoid some possible road blocks by getting pre-approved with a reputable lender first.

Your real estate professional can make recommendations for a loan officer that could help you avoid unnecessary aggravations.


Keep up to date on the Denver/Aurora market at https://www.facebook.com/tomjohnsonrealtor/



  • Facebook
  • Google Plus
  • Twitter
  • LinkedIn
  • Digg
  • StumbleUpon
  • Pinterest
  • Email

Posted in Home Buying.

Leave a Reply

Your email address will not be published. Required fields are marked *