Overcoming Homeownership Challenges: How Burson Home Advisors’ Lease-to-Own Programs Empower Buyers
Overcoming Homeownership Challenges: How Burson Home Advisors’ Lease to Own Programs Empower Buyers The path to homeownership has become increasingly challenging, especially for first time homebuyers. Recent data from the National Association of Realtors (NAR) indicates that first-time homebuyers now represent just 24% of all buyers—a historic low since NAR began collecting data in 1981. Several factors contribute to this decline, including rising down payment requirements, limited housing inventory, and the complexities of the home-buying process. Elevated Down Payment Requirements In today’s competitive market, first time homebuyers often need to make substantial offers to compete with all-cash buyers. Consequently, the typical down payment for first time homebuyers has increased to 9%, the highest since 1997. This significant financial barrier makes