Crown Gaithersburg MD | You Can Save for a Down Payment Faster Than You Think!

By
Real Estate Broker/Owner with Maxus Realty Group - Broker 301-246-0001 Broker - Realtor - CEO

Crown Gaithersburg MD | You Can Save for a Down Payment Faster Than You Think!

 

As Gaithersburg has developed over the years, many neighborhoods are now blended with one and another without any distinction or personalities. 

Not in CROW, the newest and most vibrant community in Gaithersburg MD   

Located next to Rio, this new and unique neighborhood is separate in four groups   

 

* Downtown Crown   

* Crown West   

* Crown Central    

* Crown East   

 

If you are looking for city-living style with a flair of urban village, The Crown community has everything to offer and more.    

There is even a direct Metro Shuttle between the community and Shady Grove Metro Station to connect you directly with Washington DC and its surroundings.   

Today, I would like to talk about Home Prices: You Can Save for a Down Payment Faster Than You Think!

 

Saving for a down payment is often the biggest hurdle for a first-time homebuyer. Depending on where you live, median income, median rents, and home prices all vary. So, we set out to find out how long it would take to save for a down payment in each state.

Using data from the United States Census Bureau and Zillow, we determined how long it would take, nationwide, for a first-time buyer to save enough money for a down payment on their dream home. There is a long-standing ‘rule’ that a household should not pay more than 28% of their income on their monthly housing expense.

By determining the percentage of income spent renting in each state, and the amount needed for a 10% down payment, we were able to establish how long (in years) it would take for an average resident to save enough money to buy a home of their own. 

According to the data, residents in Ohio can save for a down payment the quickest in just under 3 years (2.44). Below is a map that was created using the data for each state:

 

 

 

READ MORE: https://www.reallynicehomes.com/blog/crown-gaithersburg-md-you-can-save-down-payment-faster-you-think/


???Thinking of selling your home? Let Fernando take over the marketing of your property with our unique 99 STEPS system
www.99SOLD.com - Call or text 240-426-5754 for more information.

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Home Buying
Location:
Maryland Montgomery County Gaithersburg Crown
Groups:
Local Expert
Tags:
first time home buyers
for buyers
down payments
crown
gaithersburg
listing homes for sale crown

Post a Comment
Spam prevention
Spam prevention
Post a Comment
Spam prevention

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Ambassador
2,022,558

Fernando Herboso - Broker for Maxus Realty Group

301-246-0001 Serving Maryland, DC and Northern VA
Ask me a question
*
*
*
*
Spam prevention

Additional Information