In order for a baby boomer - dominated industry to corner this emerging market
of young homebuyers, it is vital that agents understand and cater to the needs of millennials.
While a 2016 National Association of Home Builders survey discovered living rooms are the third most desired home trait for millennials, the National Association of Realtors reported that an overwhelming majority
of young homebuyers are looking for open floor plans.
Not exact matches
Home inspection is a
young and growing professional, consulting service aimed at helping
homebuyers make one
of the biggest financial decisions
of their lives.
Due to the financial crisis and then the ensuing spike in real estate prices that priced many first - time
homebuyers out
of the market,
young people are living with their parents longer than ever before.
Younger people and first - time
homebuyers have more concerns, especially about the financial aspects
of real estate.
One
of the greatest benefits to
young families and first - time
homebuyers is that the VA Loan doesn't require a down payment.
Our maximum LTV portfolio program focuses on first time
homebuyers and
young professionals who have worked hard to establish good credit, have limited savings for a down payment, and anticipate the possibility
of moving in the next 3 - 6 years.
While the current status
of the job market and ever - present student loan debt have certainly made
younger generations skeptical about becoming
homebuyers, there are still plenty
of reasons that purchasing a home could be a smart investment for your future financial goals.
Term life plans are popular among parents
of younger children, people with debt, potential
homebuyers or people who own a business.
Term life plans are popular among parents
of younger children, people with debt, potential
homebuyers or people who own a business.
Fire pits consistently poll well among potential
homebuyers (especially
younger ones), and came in first in expected popularity
of design elements, according to the Residential Landscape Architecture Trends Survey.
«The student debt crisis and its impact on homeownership will have a profound impact on the
younger generation
of would - be
homebuyers,» states the report.
Homebuyers, especially
younger ones with
young children, are also prioritizing a big backyard in their search — an attribute that parlays into more privacy, one
of the top motivations for home - buying.
Gen X buyers represented the largest share
of single - family
homebuyers at 89 percent (85 percent a year ago), and
younger boomers were the most likely to purchase a townhouse or row house (9 percent).
The real estate agents
of yesteryear led with their local market wisdom, a strategy that remains very relevant, especially in the midst
of an ever - increasing «live where you play» mindset among
younger homebuyers.
Homebuyers don't want to deal with the maintenance cost
of a pool (which can cost as much as $ 2,000 a year), the added insurance premiums, and — if they have
young kids — the safety issues.
Holiday
homebuyers, just like the swarms
of Black Friday midnight shoppers, tend to be part
of the
younger generations, although sources say all types
of homebuyers are looking for similar things, regardless
of time
of year.
But the drawback is that foreign buyers could be gobbling up properties at the expense
of U.S.
homebuyers, particularly
young, first - time
homebuyers.
Millennials make up a huge part
of the first - time
homebuyer demographic, so let's look at how to use Snapchat to reach this
younger generation.
In the early stages
of the relationship, our associates met with @properties executives to identify its marketing needs and develop story ideas, such as the WGN piece on
young homebuyers, that could showcase the company's expertise.
We're constantly learning about this
young group
of homebuyers — we're finding that they are more similar to older generations than many thought.
Contrary to potential
homebuyers and in particular the
younger generation who wish to buy a home soon, existing homeowners seem downright pessimistic about the future
of home mortgage rates.
While HUD Secretary Ben Carson argued that the change was necessary to ensure both the continued health
of the HECM program and to avoid any negative impacts on the department's other activities — including FHA loans for
young first - time
homebuyers — it's left many heads spinning as RM originators work to hash out the «new normal» in their industry.
It may have something to do with the higher home prices,
younger average age, or perhaps the family - reliant nature
of some immigrant culture, 21 %
of urban
homebuyers say they plan to seek financial help from family for their down payment.
With the supply
of existing homes available to buy at «an all - time low» nationwide, according to the National Association
of Realtors,
homebuyers like the Rawlingses and others — including
younger buyers — are looking at other options that include building a house.
«The two big colors I think you'll see a lot
of in 2018 are dark teal and millennial pink... especially if you're marketing to first - time
homebuyers or a
younger crowd, you might want to add those colors.»
The survey's findings show that these two
younger generations
of potential
homebuyers are not deterred from home buying and believe owning a home is a key indicator
of success (75 percent).
«But these factors may also contribute to a sense
of urgency amongst
young first - time
homebuyers who feel they don't have the requisite finances and may have to scramble to cobble together a down payment.
According to the National Association
of Home Builders, the average homeowner plans to move every 13 years, with
younger first - time
homebuyers relocating slightly more frequently.
See what home features this
young generation
of homebuyers would choose when given an array
of options.
Saving for a down payment is still one
of the biggest barriers to entry for
younger homebuyers today.