taylor morrison’s New Home-Buying Rule Could Cash-Strap Your Wallet: Here’s What You Need to Know Now
If you’re shopping for a new home, beware: taylor morrison, one of the nation’s largest homebuilders, just rolled out a policy that could hit your wallet harder than expected. Starting next month, buyers must put down a minimum of 10% of the purchase price upfront—up from the previous 5% in many markets—to secure a contract. This surprise change means many first-time buyers, who often rely on lower down payments via FHA loans, could be priced out of new communities instantly. For the average taylor morrison home priced at $500,000, that’s an extra $25,000 you’ll need in cash before you even get the keys. Critics say this is a desperate move by the builder to prioritize wealthy cash-heavy buyers amid rising interest rates and a cooling housing market, but it puts ordinary families in a tight spot. If you’re already in escrow with a lower deposit, you’re likely safe—but shop around now before this rule spreads to other builders.