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Saving for a down payment is often the biggest hurdle for a first-time homebuyer in CT. Depending on where you live, median income, median rents, and home prices all vary.
I determined how long it would take, nationwide, for a first-time buyer to save enough money for a down payment …
According to data released by the Internal Revenue Service (IRS), Americans can expect an estimated average refund of $2,840 this year when filing their taxes. This is down slightly from the average refund of $2,895, last year.
Tax refunds are often thought of as ‘extra money’ that can …
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According to the latest Aspiring Home Buyers Profile by the National Association of Realtors (NAR), many renters in CT desire to own a home in the future, and believe homeownership is a big part of achieving their American Dream.
The profile went on to state that 50% of millennials …
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In a CNBC article, self-made millionaire David Bach explained that: “The biggest mistake millennials are making is not buying their first home.” He goes on to say that, “If you want to build real financial security, real wealth for your lifetime, then you need to buy a home.” …
There are some people who have not purchased homes in CT because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize, however, that unless you are living with your parents rent-free, you are paying a mortgage – either yours or your landlord’s.
As Entrepreneur Magazine, a …
When it comes to talking about millennials in CT, there are many stereotypes out there that have influenced the way the public feels about the generation. Whether it’s the assumption that millennials are irresponsible with money and would rather buy avocado toast than save for a down payment, or that …
Urban Institute recently released a report entitled, “Barriers to Accessing Homeownership,” which revealed that “eighty percent of consumers either are unaware of how much lenders require for a down payment or believe all lenders require a down payment above 5 percent.”