In exchange for a 10% downpayment they wouldn’t have to pay back, 22% of respondents in a recent survey would give up their right to vote, while only 9% would give up their driver’s license. 

Given the choice between the downpayment and other comforts, the survey of 1,000 potential homebuyers found:

  • 44% of respondents would give up on their dream car
  • 38% would skip vacations for the next five years
  • 34% wouldn’t eat out for five years.

When it comes to what they’ve actually saved, however, 67% of those who intend to buy a home in the next year or two have less than $7,000 put away. Debt such as student loans, car payments, and credit card bills topped the list of reasons respondents were unable to save more for a downpayment. 

Other challenges to buying a home cited by respondents include low credit scores (37%), the cost of a monthly payment (32%), high rental costs (26%), and a lack of homes to choose from (25%).