Despite the bad rap homeownership – and particularly home affordability – has gotten in the last few years, it’s still part of the ‘American Dream.’ But now, in 2014, there’s caveat to that dream: can buyers find a home to purchase within their budget?
Millennials and first time buyers are particularly daunted by home affordability. In Trulia’s latest survey, 15% of potential homebuyers age 28-34 said they wouldn’t even sacrifice their Netfix subscriptions to save money toward home ownership – a notion that makes saving seem like an even tougher uphill battle. With mortgage requirements deservedly more stringent and down payment requirements higher than ever, for most, finding that affordable dream home is going to take some compromising.
Here are nine savings sacrifices that won’t foul-up your finances – and may help you land a house.
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