Nine out of ten first-time homebuyers thing they're prepared for the expenses associated with owning a home, yet more than half of people who bought a home last year say they underestimated what it would cost. These findings from a BBVA Compass online survey suggest that a good number of first timers do benefit from the counsel of a real estate agent.
Check out these interesting stats about first-time howowners from the 2009 Profile of Texas Homebuyers and Sellers:
76% - Percentage of first-time homebuyers who relied on their agent to understand the process, compared to the 46% for repeat buyers.
56% - Percentage of first-timers who cut spending on entertainment, vacation, luxury items, or made other sacrifices to purchase a home.
63% - Percentage of first-time buyers who did not find the mortgage application process and approval process difficult to navigate.
4% - Percentage of first-time buyers rejected by two or more mortgage lenders.
25% - Percentage of first-timers who used a conventional loan to finance their purchase.
58% - Percentage of first-time buyers who used an FHA loan.
Rates are still low and inventory is great - are you considering purchasing a new home? Call on us...(817) 337-0000.
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