Clients I speak to are renting vs buying because the are unaware of there options in many cases. Some clients can’t buy, but others are unaware of programs that can help first time home buyers. Many potential first time buyers look at buying as an elusive dream. Student loan debt, supporting aging parents and remember this generation enter the workforce during a recession. Many Millennials entered the workforce during the worst recession. Wages that prior generations received are lower, and housing costs are increasing more then what the average employee is making.
Often the hardest part for buyers is coming up with the downpayment. Some buyers are lucky they have parents who can help. Some first-time homebuyers have been able to save some money or have a family member that can gift them money. Most buyers are not so lucky.
There are first time home buying programs with MassHousing. These programs can educate you as a buyer about the entire process. What to look for when touring a property, questions to ask, home inspectors, and preferred lenders. MassHousing can also help in the daunting down payment.
MassHousing will provide up to 5% of purchase price or 15,000 whichever is less. Single Family, Condo, 2,3 and 4 family homes are all eligible. Income limits have also been increased so more first time home buys can buy a home. In Suffolk County, if your income is less then $147,420 you can get help coming up with the down payment.
Buyers can also not only get help with either obtaining a loan or downpayment and sometimes both.
Any buyer who is considered the idea of buying really should speak to a qualified real estate agent about the marketplace, but also speak with a mortgage broker. Real Estate Agent and Mortgage broker can put you in touch with a resource that might help make the home buying a reality. 
Buyers can take first time home buying classes which will allow you access to preferred lenders and give you an edge. The class will talk about the entire process so when you are actually buying a home its less overwhelming but might still feel overwhelming but hopefully you will assemble your team which will include Real Estate Agent, Attorney, Home Inspector, that can make the transaction a bit less overwhelming. If you want more information about First time home buying programs or about the idea of buying vs renting or need help exploring neighborhoods that might not be on your radar contact me.
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