Which Buyer are you?
First Time Home Buyer
I’m purchasing a home for the very first time. I don’t have a lot of personal experience in the
homebuying process. I’m wondering if I qualify for any special programs, incentives or assistance to
help me make homeownership more accessible? I’m on a set budget so interest rates, homeowner’s
insurance, homeowner’s association fees, and property taxes are key affordability factors for me.
Downsizing, Upsizing, Rightsizing
I currently own my home, but I’m looking for a better fit. I might be downsizing, upsizing or optimizing
my living space to match my current lifestyle needs. I’m ready for my home to better suit my daily
routines, especially my mobility or future needs. I’m looking for a better location, modern upgrades, a
better quality of life, and the elimination of unnecessary expenses.
Retirement Home Buyer
I’m a retiree homebuyer, which means I’m either in retirement or fast approaching it. My priorities are
not the same as a young, first-time homebuyer. Most likely, if I’m buying a home, I’m probably
down-sizing or in my case, I call it “rightsizing”! Features like single-story layouts, low maintenance
and proximity to healthcare services can be a high priority for me. Long-term affordability is key for
me. My retirement will result in fixed income, so I need my mortgage payments, annual fees, property
taxes, HOA fees, and Homeowner’s Insurance premium to be affordable.
Retirement Refinance
I’m ready for retirement but I’m having difficulty because I still have a mortgage payment. Once I stop
working and begin to live on my retirement resources, I’ll need to enhance my income and reduce my
expenses every way possible. Refinancing my home using a HECM (Home Equity Conversion Mortgage) is one
way I can achieve both of these goals.