New Jersey homebuyer gets $575K home for $545K, saves $350 a month with incentives

A New Jersey homebuyer viewed 10 older houses but rejected them after finding costly repairs and maintenance would add to their purchase price. He then considered a new townhouse in Pennsylvania listed at $575,000. After negotiations, he bought it for $545,000 and secured $30,000 in builder incentives, including a mortgage-rate buydown that reduced his rate from 6.25% to 5.25%.