What Are Younger Homebuyers Looking For?
Whether you’re a seller, investor, agent or lender, you need to know what the newest wave of young homebuyers is looking for. The better you understand young homebuyers the better you’ll be able to understand and navigate the changes in the real estate market, including your local market.
Affordable Living Costs
Everyone is looking for more affordable living situations, but no one more so than the younger home buyer. Today it is nearly twice as expensive to rent than it is to buy. For this reason more and more millennial’s are driven to own their own property.
As the costs of renting and owning grow further apart the younger generation is taking the leap towards home ownership to escape the rising financial stress of living costs.
To Create Assets
In this day and age millennials are not even close to being ready to settle down, but the benefits of property investing are almost too good to pass up. In fact, real estate investing is one of the smartest financial decisions anyone (at any age) can make. Even though many millennials have careers that keep them on the move, there’s no downside to creating additional income via a real estate investment.
For Peace of Mind
Whether the younger homebuyer is planning to settle down or invest, owning a home has the same additional perks in both circumstances.
No one can put a price on peace of mind. Having the security of owning your own property has been shown to help raise your odds of professional and relational success, so why not put the odds in your favor?
With mortgage interest rates and home prices remaining significantly low and staying steady, the right time to start house hunting is now. Not only are the odds in your favor you’ll be setting yourself up for a great deal of security moving forward.