Saving for a Home: What Are You Willing to Sacrifice to Buy Sooner?
Wednesday Jul 27th, 2016
The journey to homeownership is not always paved in gold. In fact, for many homebuyers, it’s a time filled with great sacrifice as they save each hard-earned dollar to go towards the single most significant transaction that they will ever make in their life – a home!
And, according to Bank of America’s 2016 Homebuyer Insights Report, nearly all homebuyers are willing to make big sacrifices to save more money so they can buy their home sooner – especially first-time buyers:
However, first-time buyers aren’t the only ones giving up life’s luxuries. More than 76% of experienced homebuyers have also made sacrifices to make their last home purchase a reality. The most common are travel (46%) or a new car (37%), while 32% have given up certain desired features in their new home.
How about you? What have you sacrificed (or are currently sacrificing) in the pursuit of homeownership? We want to hear from you! Share your story in the comment section down below.