05/28/2026
Ready for some harsh truth? Here are 5 things home buyers in 2026 and 2027 might not want to know, but need to know:
1 - The average interest rate over the last 40 years in the U.S. for home buyers is 6.4% - don’t wait for rates to go down to buy and we don’t recommend listening to your uncle who tells you that they’ll be at 3% eventually (they might…but it’s not likely)
2 - The median down payment for first time home buyers is 10% - no, you don’t need 20% and a lot of folks put down less than 10% but if you do plan on putting down 10% that’s going to be $35,000-$40,000 for a median priced home in Johnson City
3 - U.S. home owners are spending an average of $10,946 per year on home maintenance and upkeep.
So, yes, you really do need that emergency fund locked in before you buy!
4 - Pending sales are up 10% from last year.
If you’re waiting for prices to crash, you might be waiting awhile.
5 - If you spend $400,000 on your home, it will cost you $800,000 after interest. We recommend doing one extra payment a year or making 1/2 size payments every 2 weeks instead of full payments once a month, doing either of these will save you tens of thousands of dollars in interest over the life of your loan!
It might not be what you want to hear, but being prepared is everything when you go to buy a home! And for everything else…we’re here to help!
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