First Time Home Buyers


How to Buy More House

For Less Money

Would you like to purchase a larger home for a lower cost? Here's how.

Many Americans are moving from large metropolitan areas to bordering counties for less expensive homes and more space. Among the 25 largest metropolitan areas, 18 had more people move out than move in from 2000 to 2004. Domestic moves have a great impact on the biggest metropolitan areas - New York, Los Angeles and Chicago. The New York area alone had a loss of 211,000 residents during the 4 year interval.

William Frey, demographer at the Brookings Institution explains that this is a middle class flight, a flight for housing affordability.

Housing prices are soaring in the metropolitan areas, even as the population shrinks. In response to that, middle class people are forced to move out to the exurbs in search of more affordable homes.

High housing costs on both coasts drove more Americans to cheaper cities nearby.

Other areas that attracted a lot of new residents are Phoenix, Tampa-St. Petersburg, Fla., Atlanta and Dallas-Fort Worth. They have relatively inexpensive homes, and that's the most important reason for many middle class Americans to move to those areas.

It is highly recommend that you also visit the First Time Home Buyer Grants page for free assistance with the down payment. This will make it possible for many people to qualify for a first time home buyer loan who wouldn't have qualified without the grant assistance.

Return to the First Time Home Buyer Programs for other types of 1st Home Buying assistance.

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