If you’re selling your home and want it to sell quickly and for top-dollar (doesn’t everyone?), you need to prepare your home to appeal to the widest group of homebuyers. Today, that demographic is the Millennials, who were behind 60 percent of home purchases in 2016. This generation has been shaping the market the last few years, and while you don’t need to turn your house into the Millennial dream home, a few things are suggested to appeal to this type of homebuyer.
Rising rental costs, low mortgage rates, financial benefits, and the ability to customize your living space are just a few of the many reasons first-time homebuyers want to take the plunge into homeownership. Regardless, buying is a big commitment and it’s crucial to make sure it’s the right lifestyle and financial choice for you. Here are a few questions to ask yourself first.
Millennials made waves in the 2016 housing market as the largest generational percentage of homebuyers. They were more likely to skip over traditional starter homes and more likely to consider purchasing a new build. See what home features this young generation of homebuyers would choose when given an array of options.
2016 was a hot year in the real estate market with low inventory, high demand and historically-low mortgage rates throughout the majority of the year. With mortgage rates on the rise, experts are predicting what will happen with affordability, home prices, inventory and sales speed in the new year.
Coming of age in the recession has painted a different homebuying picture for the Millennial generation. With surmounting student debt and rent prices, the real estate market was once asking, “Where are the Millennials?” But according to a new study performed by Zillow the Millennials are making their own waves in the housing market with their new approaches to shopping, financing and purchasing.
Last year, Millennials made up the largest generational share of homebuyers. Their wants and needs in the housing market are heavily-observed and analyzed – and for good reason! Here are six surprising statistics from a recent TD Bank survey of potential first-time homebuyers.
Is the opportunity of historically low mortgage rates and the surmounting cost of rent enticing you to purchase your first home? Homeownership is a huge, yet beneficial, financial decision. We want our homebuyers to understand the benefits of homeownership, the mortgage process, the costs of their mortgage, and their overall homeownership affordability, so we've compiled a list of common first-time homebuyer questions and answers.
Ever wonder why Millennials receive so much attention, especially in the housing market? Millennials are the largest generation in American history, and in 2015, they made up the largest generational share of homebuyers (35%).
Millennials often get a bad reputation when it comes to defying societal norms. Statistically, they’re getting married later, waiting to have children and buying homes at a later life stage. But according to that National Association of Realtors (NAR) 2016 Home Buyer and Seller Generational Trends report, Millennial homebuying habits may be trending toward the traditional path of their parents and grandparents.
In 2015, the largest share of homebuyers (35%) fell within the Millennial generation. Here’s what we know about Millennial homebuying habits last year.
Real estate experts have been trying to predict when millennials will enter the housing market for quite some time, and for good reason. Millennials make up the largest generation in the U.S., comprising one-third of the nation’s population in 2013. Their entry into homeownership is pertinent to the market, because as younger generations purchase entry-level homes, sellers can upgrade.
So in an age where mortgage rates are historically low and rental inflation has skyrocketed, why aren’t millennials buying?