When you start thinking of buying real estate, the down payment can sometimes be seen as a hurdle. Many first time home buyers see the down payment as a large obstacle to prepare for. But take heart. Depending on where you live, median income, median rents, and home prices all vary. For this reason, it's important to get current and accurate information. With this information you can paint a picture for each state or county that you are interested in. In some cases, the down payment may be needed for a cross country relocation, or even a second home.
By determining the percentage of income spent renting a 2-bedroom apartment in each state, and the amount needed for a 10% down payment, Keeping Current Matters was able to establish how long (in years) it would take for an average resident to save enough money to buy a home of their own.
Using data from the United States Census Bureau and Zillow, determined how long it would take, nationwide, for a first-time buyer to save enough money for a down payment on their dream home. Remember, there is a long-standing ‘rule’ that a household should not pay more than 28% of their income on their monthly housing expense.
All real estate is local. York County South Carolina has a lot to offer. Whether you want to visit the lakes, or be entertained you will not be let down. York County also has medical centers and higher education centers available. If you are thinking of making a move, give us a call. We have the deep community roots and network to help you find your next home. We can show you all of the beautiful areas of York County.
We would like to invite you to visit ArbieTurnerHomes.com. We specialize in the Rock Hill, Fort Mill, Indian Land and Tega Cay areas of South Carolina. We have made available tours of subdivisions in each city for your review. We are deeply knowledgeable of these areas, which is why you want to choose us for your real estate needs.
We work hard for our customers.
Provided Courtesy of Arbie Turner Homes Keller Williams Fort Mill SC
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