Real estate for sale in Palm Beach Gardens is attractive to first-time home buyers for its variety of residences, which include upscale townhomes, golf course homes, and waterfront condos. Townhomes for sale in Palm Beach Gardens are often purchased by first-time home buyers; therefore, it is imperative that you market to this large demographic.
When selling Palm Beach Gardens real estate, consider the following statistics (courtesy of AgBeat.com) regarding first-time home buyers:
- The median age of a first-time buyer is 31 with an income of $62,400.
- Nationwide, a typical first-time buyer purchased a 1,570 square foot home for $155,000.
- Most first-time home buyers finance their purchase and use various resources for the down payment. The majority use funds from their personal saving account or are given money from a relative. Other buyers sell stocks, tap into their retirement fund, or borrow money from a friend.
- Fixed-rate mortgages are the most popular among entry-level buyers, with 94% opting for this type of financing. Fifty-four percent use a FHA mortgage, which requires a low down payment, and 6 percent financed with the VA loan program with no down payment.
Real estate for sale in Palm Beach Gardens, specifically townhomes for sale in Palm Beach Gardens, will always attract first-time home buyers. In fact, 4 out of every 10 buyers are first-time buyers, according to a national survey. Gear your marketing toward this important group and you may be surprised how quickly your home sells.
To find out whether or not your Palm Beach Gardens real estate will appeal to first-time buyers, call a home expert at Golden Bear Realty today.
