first time homebuyer

A -post collection

Survey: How are millennial home buyers saving to buy their first home?

Millennials’ interest, and their perceived lack of interest in homebuying, has drawn many headlines over the last few years. Most of that attention is rightly focused on student loan payments weighing down this generation in debt. Today's average student debt has ballooned to $37,000. These sky high monthly payments coupled with raising rents and cost of living in metro areas -- hello, avocado toast scandals -- has made it nearly impossible for many millennials to afford a monthly mortgage

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Hey Mom & Dad, can you spare a few hundred thousand?

These days, more and more parents are buying homes for their adult children, providing gift funds, or loaning them money to make the big move. A 2016 survey from Bank of America showed that 19% of millennial homebuyers expected parents to help with their down payment, while 15% expected help with monthly mortgage payments. Read on below to get the scoop on this unusual twist in first-time home buying. We’ll tell you why it’s happening, and if you're

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Infographic: What makes a good real estate agent?

⭐ ⭐ ⭐ ⭐ ⭐ Breaking down a 5-star homebuying experience With trustworthiness in real estate agents remaining low (per Gallup, only 18% of Americans think real estate agents have high ethical standards), Open Listings wanted to identify ways to increase buyer trust & satisfaction by studying the traits modern homebuyer value in great real estate agents. The methodology The Open Listings team analyzed word trends in over 900 5-star reviews from our ratings platform to understand what buyers want from real estate agents when

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First-time FAQs: What do you need to buy a home?

TL;DR With today's competitive real estate market, serious buyers should have a pre-approval letter and/or proof of funds before starting their home search. So, what are proof of funds? When you make an offer, sellers will require you to submit proof of funds. If you're buying a house with a mortgage, it shows them that you have the cash available for your down payment and closing costs. If you're paying all cash, your proof of funds shows you

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First-time FAQs: Do I need a home warranty or home insurance?

TL;DR While first-time homebuyers often get home warranties and home insurance confused, the reality is that it's not an either / or situation. You have to have home insurance before you close on your new home, but a home warranty can be bought any time. Breaking it all down: What exactly is home insurance? Homeowner’s insurance provides you financial protection against disasters. It protects the house itself and everything in it, as well as provides liability coverage in case

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