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Which Comes First… Marriage or Mortgage?

Bergen County Real Estate | Which Comes First… Marriage or Mortgage?

Buying a home is a big step in anyone’s life and it should always be taken seriously.  Bergen County Real estate is no exception so you should always work with a professional to find the right property and protect yourself.

Which Comes First… Marriage or Mortgage? | Simplifying The Market

According to the National Association of REALTORS most recent Profile of Home Buyers & Sellers, married couples once again dominated the first-time homebuyer statistics in 2017 at 57% of all buyers. It is no surprise that having two incomes to save for down payments and contribute to monthly housing costs makes buying a home more attainable.

But, many couples are also deciding to buy a home before spending what would be a down payment on a wedding, as unmarried couples made up 16% of all first-time buyers last year.

If you’re single, don’t fret! Single women made up 18% of first-time buyers in 2017, while single men accounted for 7% of buyers. A recent report pointed to a sense of responsibility and commitment that drives many single women to want to own their own homes rather than rent someone else’s.

Here is the breakdown of all first-time homebuyers in 2017 by percentage of all buyers, income, and age:

Which Comes First… Marriage or Mortgage? | Simplifying The Market

Bottom Line

You may not be that much different than those who have already purchased their first homes. Let’s get together to determine if your dream home is already within your grasp!

Source: Gibbons Team Blog on KCM

Bergen County Real Estate

Gibbons Team Real Estate is the premiere real estate team in Bergen County, NJ.  Elaine and Ryan Gibbons have decades of experience assisting clients buy and sell here in Bergen County and have many repeat clients.  To learn more about the market visit our Bergen County Market Update page.  To schedule an appointment contact us at 201-446-8190.

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