First Comes Love… Then Comes Mortgage?
WalletHub Recently reported: “…men will spend the most on the holiday, an average of $339. Women spend around $64, according to a survey by WalletHub.”
According to the National Association of REALTORS most recent Profile of Home Buyers & Sellers, married couples once again dominated the first-time homebuyer statistics in 2018 at 54% of all buyers. It is no surprise that buying a home is more attainable with two incomes to save for down payments and contribute to monthly housing costs.
However, many couples are also deciding to buy a home before spending what would be a down payment on a wedding. Last year, unmarried couples accounted for 16% of all first-time buyers.
If you’re single, don’t fret! Single women made up 18% of first-time buyers in 2018, while single men accounted for 10% of buyers. One recent article pointed to a sense of responsibility and commitment that drives many single women to want to own their home, rather than rent.
Here is the breakdown of all first-time home buyers in 2018 by percentage of all buyers, income, and age:
Those who have already purchased their first homes have paved the way. Let’s get together to determine if your dream home is already within your grasp!
Source: Michigan Real Estate Updates