The Sacrifices First-Time Home Buyers Make to Purchase a Home

Dreams do come true! The American Dream of having a place to call home where you can raise a family and create a lifetime of memories can bring about sacrifices as well.  So what types of sacrifices are first-time home buyers willing to make in order to make that dream come true?  

Here’s a survey from the 2014 National Association of Home Buyers and Sellers:

  All Buyers
Cut spending on luxury items or non-essential items


Cut spending on entertainment


Cut spending on clothes


Canceled vacation plans


Earned extra income through a second job


Sold a vehicle or decided not to purchase a vehicle


Did not need to make any sacrifices


Last year, the guidelines for qualifying on a loan to purchase a home were increased, but the record-low mortgage rates are allowing more buyers to purchase homes.  Therefore, this survey validates the importance of owning a home and making that American Dream come true.