If you're planning to buy a home in Portland, Oregon, you might be struggling with the urban versus suburban dilemma. It's an important decision that could affect everything from your daily life to your finances and long-term investment potential. And there are pros and cons on both sides of the fence. This guide examines the key distinctions between urban and suburban living in Portland, from a real estate and home buying perspective.'
Some home buyers in Portland, Oregon have a hard time coming up with the funds needed to cover their closing costs and down payment. It's easy to understand why. On a typical home purchase in Portland, the minimum (3%) down payment for a conventional loan might range from $15,000 to $20,000. Additionally, a home buyer's closing costs could double that upfront investment. That's why Portland home buyers often request concessions from the seller, to help cover their closing costs. This strategy can help buyers overcome the upfront cost hurdles of a home purchase.'
Portland home prices have rapidly increased over the past decade. Prices are still relatively expensive compared to statewide prices across Oregon, which is something all buyers should know when taking out a mortgage with the help of a mortgage lender.'
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