{"id":8106,"date":"2015-07-16T13:50:16","date_gmt":"2015-07-16T13:50:16","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=8106"},"modified":"2015-07-16T13:50:16","modified_gmt":"2015-07-16T13:50:16","slug":"what-first-time-buyers-are-willing-to-sacrifice","status":"publish","type":"post","link":"http:\/\/www.anthonydidonato.net\/wordpress\/what-first-time-buyers-are-willing-to-sacrifice\/","title":{"rendered":"What First-Time Buyers Are Willing to Sacrifice"},"content":{"rendered":"

What First-Time Buyers Are Willing to Sacrifice<\/h2>\n

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What First-Time Buyers Are Willing to Sacrifice. Image courtesy of David Castillo Dominici \/ FreeDigitalPhotos.net<\/p><\/div>\n

A new survey shows that consumers saving for a home\u00a0are willing to forego modern conveniences in order to secure a down payment. That may even mean giving up phones, Internet, cable TV, or Starbucks, according to a newly released survey by the business advisory firm the Collingwood Group.<\/p>\n

Potential first-time home buyers are making such sacrifices because they want to be able to make a sizable down payment on their home purchase. Nearly two-thirds recently surveyed by TD Bank say they\u2019d like to put 20 percent down or more on their home purchase. The bank polled more than 1,000 consumers who were not home owners but intended to purchase a home within the next five years.<\/p>\n

First-time home buyers are increasing their ranks lately, with their share in the housing market rising to 32 percent in May. That matches their highest share since September 2012, according to the National Association of REALTORS\u00ae. A year ago, first-time buyers represented 27 percent of all buyers.<\/p>\n

The survey showed that around 62 of potential first-time buyers are making plans to purchase a home within the next two years.<\/p>\n

\u201cIt\u2019s encouraging to see interest from the first-time home buyers, who have been cautious for much of the housing recovery,\u201d says Scott Haymore, head of pricing and secondary markets at TD Bank. \u201cConsumers are gaining confidence in the economy and many are looking to enter the housing market within the next two years.\u201d<\/p>\n

Some additional survey findings include:<\/p>\n