Tips for Millennial Homebuyers
“Look, the news says we’ve ruined something new. Lolz”
Have you heard? Millennials ruined everything.
Whether it’s the traditional dinner date, marriage, or napkins (seriously), millennials are taking flak for the downshift in anything measurable. So much so that even the term “millennial” is practically used in derogatory fashion.
Obviously those headlines couldn’t be more wrong.
There was a period not so long ago when millennials were even blamed for the future downfall of the housing market. Yup. The future downfall. As if blaming a group for something that didn’t happen yet – or at all – is even practical.
Walk into a restaurant now and tell a cook the meal you haven’t ordered yet came out cold. Go ahead. Do it. I’ll wait.
Oh, right. Millennials ruined dinner. How could I forget?
But alas, it’s true, millennials were blamed for ruining real estate, ridiculed and labeled the “renter generation,” and allegedly opting for leasing over owning. And you know what? That was wrong, too.
Sure, renting/leasing is an option. It always was, is, and will be for generations to come. But did you know that recent research shows that 66% of millennials who currently rent are also saving to buy a home?
There are factors that contribute to all of these decisions that extend well beyond the ridicule in headlines. Life decisions can’t be rushed. Millennials are marrying later, the cost of living has increased, college debt is a headache, millennials migrate to cities for jobs where renting is the only affordable option; the list goes on (and in fact they’re all listed in the Hallmark Realtors Millennial’s Guide to Home Ownership).
The truth is, like anything in life, you know best when the time is right. If you’re reading this article, then I’d assume you’re at least somewhat interested in buying a home in the not-so-distant future. Or maybe you’re not sure where to start and this is the first step in your journey. If so, welcome.
Well, this is a place for you to ask questions. Because I’ve been through the process before as a first-time homebuyer (three years ago, in fact), and I’ve worked with clients in all age ranges, both buyers and sellers.
But before we get to that point, I encourage you to read this ebook that walks you through the first-time homebuying process.
It addresses a lot of the things that Google may not clear up enough. The things that mom or dad or grandparents can’t relate to because they bought their first house for $7 in pocket change after walking 15 miles up a hill in the snow in the dead of winter with only the clothes on their backs and the American Dream to keep them warm.
And if you have questions beyond that, I’d be happy to answer for you. You can call me at 732-857-6382. Or text/email (Frank@hallmarkrealtors.com), since millennials obviously ruined phones, too.