Dispelling Misconceptions of Home Buying

CENTURY 21 American Heritage Realty understands that there are a multitude of misconceptions when it comes to the home buying journey. Today, we are hoping to dispel one of the biggest myths: that buyers need a 20% down payment. If fact, according to the National Association of REALTORS (NAR) 2020 Profile of Home Buyers and Sellers, of the 87% of recent buyers who financed their home purchase, they did so with 12% down payment. For first-time home buyers, the NAR report found that the down payment average was 7%, while repeat buyers typically financed 84% of their homes. 

That said, we urge buyers to sit down with a real estate professional to discuss all available options.  

Buying real estate is complex and for most buyers, they are making the single largest investment in their lifetimes, so working with a real estate agent who is knowledgeable and who will be relentless in delivering personalized experiences on their behalf while giving 121% is critically important.

Discover the self-starters, go-getters and midnight-oil burners who bring the new mission to life everyday:

DEFY MEDIOCRITY and DELIVER EXTRAORDINARY EXPERIENCES