A Mortgage for Valentine’s Day?
According to the National Association of REALTORS’ (NAR) most recent Profile of Home Buyers & Sellers, married couples dominated the first-time home buyer statistics in 2016 at 58% of all buyers. Having two incomes to save for a down payment and contribute to monthly housing costs makes buying a home more attainable.
However, unmarried couples made up 14% of all first-time buyers last year. Many unmarried couples are making the financial decision to buy a home before spending money on a wedding.
If you’re single, don’t fret! Single women made up 18% of first-time buyers in 2016, while single men accounted for 8% of buyers.
Here is the breakdown of all first-time homebuyers in 2016 by percentage of all buyers, income, and age:
Real Estate Bottom Line
You may not be much different than those who have already purchased their first homes. Let’s get together to determine if your dream home is already within reach!