The door for first-time homebuyers is wide open.
Rents are rising faster than incomes, which is causing many millennials to enter the market and buy. In fact, half (50 percent) of today’s homebuyers are under the age of 36, according to Zillow’s 2016 Consumer Housing Trends Report, and 47 percent are first-time buyers. Solo homebuyers are in the minority, while most buyers are shopping with a spouse or partner (73 percent).
Buying a home is the largest investment most people will ever make; it’s a time of excitement and risk. Smart investments could reap lifelong rewards, while one small misstep could cost thousands of dollars.
To help make your clients’ first home purchase a success, we’ve put together a go-to checklist outlining 15 money-saving tips for first-time homebuyers. It covers contingency clauses, closing-cost negotiation, mortgage types and more. Share this guide and save your clients hundreds, maybe thousands of dollars when buying a home.
This post was written by Jake Durtschi, owner of Jacob Grant Property Management located in Idaho Falls, Idaho. Jake and his team manage over 400 rental properties in east Idaho.
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