There have been a lot of myths floating around about millennials not being interested in home purchases. Maybe you’ve heard that they still live with their parents due to student loan debt, don’t have a 20% down payment or they have no interest in settling down.
In reality, more Millennial homebuyers are taking advantage of purchasing a home rather than waiting to purchase a home based on big life events. Millennials are changing the real estate market because they aren’t waiting for marriage or starting a family to buy a home. In fact, Millennials have been watching their rent go up over time and at some point, they realize it might make sense for them to buy instead of signing another lease.
Buying a home is a serious decision that can be stressful. However, Millennials are now buying more homes than ever. They are buying homes on their own terms, within their own budgets. They aren’t afraid to purchase a home. They are willing to travel and relocate for a secure job, safe neighborhood, and their desired lifestyle.
They see the value in homeownership and preparing financially. The internet and smartphones have empowered millennials to do their own research. While most millennials are moving from a rental or out of the family home, they have the time to narrow down their search for a home that they could afford. Millennials aren’t waiting. They are actively seeking homeownership since they’re powering today’s housing market.
If you are one of the many Millennials who are ready to buy a home, we have a full team of Mortgage Professionals to help you decide on what is the best loan option for you! Please don’t hesitate to reach out to us at 770-552-1000. We look forward to hearing from you!