Owning A Home In The Millenium

By
Mortgage and Lending with CMG Financial NMLS# 312738

Millennial Homeownership

  • November 17, 2015

Millennial homeownership is predicted to rise sharply within the next year or two. What does this mean and how should you prepare?
 
It means that the homebuying process is finding ways to make homeownership accessible to a new generation at the same time millennials are finding the market worthy of investing in.
 
Preparing for this shift in the market means appropriately understanding the new customer and being able to provide the tools they need for success. Constant communication is key as well as helping them understand the process and their options clearly. Millennials do a lot of research but with the market constantly changing and new rules in place, clearer explanations could be necessary. Being a trusted resource will be key in developing partnerships and a solid reputation moving forward.
 
With rent rates predicted to see more increases, millennials will have a big decision to make regarding living arrangements. Will they suffer through more rent hikes thereby potentially delaying their ability to save money for a home? Or will they dive into the housing market and take advantage of loan programs designed to help new homeowners get the loan terms they need? Many are anticipating the latter.

 

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Rainer
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Dan Hopper
Keller Williams Realty Downtown LLC - Denver, CO
Denver Realtor / Author / Advocate/Short Sale

We would love to see more millennials stepping up to buy a home.  WE have noticed in the Denver area... many are sitting back waiting for values to stable, yet they are paying HIGH rents, and not wanting to be bonded to a home.  

Nov 17, 2015 01:34 AM #1
Rainmaker
86,128
Tim Carroll
CMG Financial - Rohnert Park, CA
Area Manager at CMG Financial

Same here Dan. The rents here in Northern California are astronomical and show no signs of changing anytine soon. We are working on showing them why owning vs renting makes so much more sense. Especially with rates and home prices on the rise. Some get it, a lot of them don't. Thanks for commenting!

Dec 01, 2015 03:11 AM #2
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Rainmaker
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Tim Carroll

Area Manager at CMG Financial
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