February 13, 2018…A typical first-time home buyer pays thousands of dollars more than an experienced buyer would pay for the same house, according to research from two housing economists.
First-time buyers overpaid an average of about $2,200, or 0.79%, for their homes, according to senior economist Jessica Shui and economist Shriya Murthy of the Federal Housing Finance Agency. They analyzed appraisal data from 1.7 million home sales from late 2012 to early 2016. The study’s average home price was $275,020.
Their research doesn’t mean that you’re destined to spend too much when you purchase your first place. With some expert advice, you can pay a fair price and nothing more.
It’s about being eager Read More Here