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 |
72% |
| Cut spending on entertainment |
56% |
| Cut spending on clothes |
45% |
| Canceled vacation plans |
24% |
| Earned extra income through a second job |
13% |
| Sold a vehicle or decided not to purchase a vehicle |
12% |
| Did not need to make any sacrifices |
54% |
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.