The Importance of the 1st Time Buyer
The first-time homebuyer is the cornerstone of the real estate market. Without this highly motivated individual – there would be no real estate market.
Why you ask? Growth and market recovery starts from the bottom. And there is no better foundation to grow upon than the hopes and dreams of the first-time buyer.
This group of determined individuals fuels the market. These people are the movers and the shakers of the world. Why? Because they have determination.
There is no greater want than the security of a home. Home is where the heart is, because that is where your family lives. That’s why I became a Realtor – I digress.
The first-time homebuyer faces the most challenges. First – you gotta nail that great paying job so the saving can begin. Those who truly want to own a home will start saving aggressively. They will need money for the down payment, the closing costs, not to mention about 6 months of emergency funds the bank likes to call “reserves”. The prospective first-time homebuyer may need to cut back on the dinners out, vacations, new cars, etc and start to squirrel away enough dough to make it happen.
God Bless the first-time homebuyer.
When someone can buy their first home, it is the first rung to financial security. When people can buy their first home, the sellers, who now have earned equity since they bought it – well now they can sell and move forward in their real estate journey and buy their second place. So on and so forth, as a dear friend and client would say.
I love working with the first-time homebuyer because of the passion behind their eyes. So much to learn and see – it’s exciting to go on this journey together.
So all you potential first-time buyers out there – keep saving your money, cut some corners and live your “mortgage” budget – because 2014 is primed to be a wonderful year here on the peninsula.
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Thanks for reading – Sabrina
The Caton Team – Susan & Sabrina – A Family of Realtors
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