Many of the terms used by real estate professionals are confusing when you are buying a home for the first time. In my experience, two of the most confusing and misunderstood terms used are “deposit” and “down payment.” They both require cash from a buyer. So, you may ask, “What’s the difference?
I have asked several first time home buyers to share their stories with others who are considering the purchase of their first home. It is my hope that by sharing these stories, first time home buyers will find the courage to take a leap of faith and begin a new life in a home of their very own.