Palm Beach Real Estate News



For most first-time buyers, purchasing a home is the biggest purchase of their lives—but according to a recent survey, the majority of them don’t exactly feel prepared.

A recent article from REALTOR Magazine outlined a survey from first-time homebuyer survey from real estate resource Framework, which found that the majority of first-time homebuyers feel unprepared to buy. According to the survey, only 41 percent of first-time homebuyers felt prepared for the homebuying process, while 44 percent said they feared making a costly mistake. And more than half of all first-time buyers—both prospective (58 percent) and recent (53%)—said the homebuying process was more difficult than it needed to be.

What does this mean for you? If you’re buying a home for the first time, you want to feel as prepared as possible—and that means working with a qualified real estate agent. The right agent will help you feel prepared for every step of the homebuying journey—and make the entire process of buying a home feel less complicated and difficult.


Posted by Heather Smith on November 21st, 2019 3:07 PM

A lot of potential home buyers think that in order to successfully buy property they need to save up a sizeable down payment of 20% of the purchase price—and that until they have that down payment in the bank they can’t transition to homeownership.

But the “20% down payment myth” just isn’t true. Thanks to a variety of lending options, there are plenty of buyers out there purchasing property with far less than 20% down.

According to recent research from Zillow, 24.2% of buyers put down 5% or less when purchasing their homes. That’s nearly one in four buyers on the market!

The Takeaway

According to this data, it’s not only possible to purchase a home with a down payment of 5% or less, it’s also extremely common. So if you’ve been putting off buying a home until you have a 20% down payment in the bank, it might be time to rethink your strategy—and finally make your dream of homeownership a reality in 2019.

Posted in:homeownerPosted in:buying a homePosted in:home buyer and tagged: buying a homehomeownerhome buyer
Posted by Heather Smith on June 26th, 2019 1:02 PM

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