So-called "millennials," the generation of about 75 million Americans between the ages of 18 and 34, have been slower than previous generations to buy homes. Constrained by student debt and tighter lending practices, millennials have also been suspicious of entering the real estate market after the downturn. However, now that the market has consolidated and rents are rising, millennials are showing signs of interest in homeownership. In fact, a recent survey reveals that, while only 26% of millennials currently own homes, 71% want to purchase residences of their own. Spurred by a desire for greater privacy and the wealth-building power of homeownership, this generation of young Americans is ready to stake its claim. Be ready, sellers!
The number of younger real estate buyers is increasing. Properties that meet their needs, desires and budgets will be at a premium. We have a successful history of assisting buyers in the community. We know the "bells and whistles" that attract buyers, and we can help you get the best return for your real estate investment. Contact us today to arrange an initial consultation at our local office. We look forward to meeting you!
HINT: Millennials generally prefer "turnkey" properties that do not require much, if any, improvement.