first-time buyer
The term "first-time buyer" is commonly used in real estate and finance to describe individuals who are entering the property market for the first time and may benefit from specific financial programs.
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Definition
B2Real Estate
(common)A person purchasing a home or property for the first time.
Example
- As a first-time buyer, she qualified for a lower interest rate on her mortgage.
C1Finance
(technical)An individual who has not owned a primary residence in the past three years, making them eligible for certain financial assistance programs.
Example
- Many first-time buyers take advantage of government grants to help with their down payments.
Similar
Terms that have similar or relatively close meanings to "first-time buyer":