What Millennials Want in a New Home
Millennials are taking their time when buying a new home. Why? Because they move back in with their parents after college. The job market is tough and instead of worrying about a steady income and a mortgage, they feel safe and comfortable at home without a commitment. The trend right now is living with their parents out of college, then renting a home or apartment, then becoming homeowners.
Trends for home buyers at a young adult age also include being frugal with their money which means saving more for a down payment. Affordability and convenience are important to millennials so what is on their wish list when it comes to a specific property is very different than Generation X or Baby Boomers. They look for different things in a home than different generations and are willing to sacrifice things like eating out in order to save.
This is the age of buying online and that includes looking at houses online first before buying. Technology has become a big part of the home buying process and seeing high-quality images of a house before going to tour it saves them time and helps make the decision easier. Millennials like to do their own research first before contacting a real estate agent and they’ll likely know exactly what they want before working with an agent. Berkshire Hathaway HomeServices has a list of neighborhoods and homes available to purchase with high-quality images to help in the buying decision.
If you are selling a new home, and thinking a millennial will scoop it up, keep these tips in mind. Millennials are late to the real estate market however they are showing up now ready to buy a home that is perfect for them. If you are ready to buy or sell your home, contact Berkshire Hathaway HomeServices to speak to one of our real estate agents at 803-775-1201 or visit our website to learn more.