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Navigating the upgrade game when buying a newly-built home

You’ve been looking in earnest at resale homes, but on a tour of the outskirts of town, you see something off in the distance. A series of signs and banners are everywhere, leading Hansel-and-Gretel style to a brand spanking new set of stunning, lit-up model homes. The curiosity is killing you, so you take all the requisite turns to reach the model home sales office. There, you are greeted by a friendly salesperson (usually a licensed real estate agent) who works exclusively on behalf of the builder.

Construction, "First-Time Buyer", "Home Buying"

New construction and first-time homeowners pair up big time

New homes. First time buyers. Has kind of a ring to it, doesn’t it? Both the newly-built structure and the newly-minted occupant are excited to be together, especially in these days of multiple offers and rising prices for resale homes all over the U.S. According to the February survey for the NAHB/Wells Fargo Housing Market Index (HMI), the study revealed that first-time home buyers now account for a whopping 43 percent of the new home market.

Construction, "First-Time Buyer", New

Minimum Down Payment for First-Time Homebuyers

Someone once asked me: With the way the economy has taken a toll on savings accounts, the traditional 20% down payment seems out of reach for many first-time home buyers like myself. Are more first-timers going the route of 5%-15% down payments? Or should I wait until I've got the 20% saved?

I can answer your question in two ways because they're two separate questions.

"First-Time Buyer", "Home Buying"