The 2020 Millennial Home Buyer Report shows how this generation is not really any different from previous ones when it comes to homeownership goals: “The majority of millennials not only want to own a home, but 84% of millennials in 2019 considered it a major part of the American Dream.” Unfortunately, the myths surrounding the barriers to homeownership – especially those related to down payments and FICO® scores – might be keeping many buyers out of the arena. The piece also … [Read more...]
Confidence Is the Key to Success for Young Homebuyers
Buying your first home can seem overwhelming. Thankfully, there’s a lot of great information out there to help you feel more confident as you learn about the process. For those in younger generations who aspire to buy, here are three things to consider sooner rather than later in your journey: 1. Understand What it Takes to Purchase a Home Overall, Millennials make up the largest group of homebuyers in today’s real estate market, and Gen Z is not too far behind. A recent study shared by Freddie Mac … [Read more...]
The Many Benefits of Aging in a Community
There’s comfort in being around people who share common interests, goals, and challenges. That comfort in a community doesn’t wane with age – it actually deepens. Whether it’s proudly talking about grandchildren or lamenting the fact that our eyes aren’t as good as they used to be, it helps to be around people who not only understand what we’re saying but actually feel the same joys and concerns as well. That’s why many boomers are deciding to move into an active adult … [Read more...]
How Trusted Professionals Make Homebuying Easier to Understand
In the spring, many excited buyers get ready to enter the housing market. Others continue dreaming about the homes they’d like to buy. The truth is, many potential buyers continue to dream longer than they need to, simply because they’re confused about the homebuying process. Thankfully, working with a trusted real estate professional can help ease those concerns and make the process to homeownership much easier to understand. A recent survey conducted by Ipson and Freddie Mac reveals the confidence … [Read more...]
Homeownership Rate on the Rise to a 6-Year High
Regardless of the lack of inventory on the market, the U.S. homeownership rate has climbed to a 6-year high. The United States Census Bureau reported that it increased to 65.1% in the fourth quarter of 2019, representing the highest level in the past six years. See the graph below:This increase does not come as a surprise. According to realtor.com, “The largest cohort of the millennial generation turns 30-years-old in 2020 and they are hitting the housing market in full force. At the end of the fourth … [Read more...]
Does “Aging in Place” Make the Most Sense?
A desire among many seniors is to “age in place.” According to the Senior Resource Guide, the term means, “…that you will be remaining in your own home for the later years of your life; not moving into a smaller home, assisted living, or a retirement community etcetera.” There is no doubt about it – there’s a comfort in staying in a home you’ve lived in for many years instead of moving to a totally new or unfamiliar environment. There is, however, new information … [Read more...]
How to Avoid a Gender Gap When Investing in the Housing Market
When buying a home, we all want to feel like we’re making the right decision, paying a fair price, and making the best investment of our lives. According to a recent gender-based study, men and women can unknowingly walk away with very different financial outcomes when the deal closes. Thankfully, if you follow some simple ways to arm yourself with the information you need to prepare in advance, you’re more likely to feel like you’ve won when the keys to your new house are in your pocket. Kelly … [Read more...]
Where Homebuyers Are Heading By Generation [INFOGRAPHIC]
Some Highlights: Whether capitalizing on job opportunities, affordability, or warm-weather places to retire, Americans are making moves to these top cities to take advantage of the strength in the current housing market. A strong economy and lower mortgage rates have made it easier for many would-be buyers to get into the market. According to realtor.com, it just depends on which market. To find the top market in our area, let’s get together. … [Read more...]
5 Reasons to Consider Living in a Multigenerational Home
Did you know that 1 in 6 Americans currently live in a multigenerational household? According to Generations United, the number of multigenerational households rose from 42.4 million in 2000 to 64 million in 2016. The 2018 Profile of Home Buyers and Sellers from the National Association of Realtors shows that 12% of all buyers have a multigenerational household. Why Are Many Americans Choosing to Live in a Multigenerational Household? The benefits to multigenerational living are significant. According to Toll … [Read more...]
Be on the Lookout for Gen Z: The Next Generation of Homebuyers
Gen Zers are the next generation of homeowners, and they’re eager to jump in and buy their first homes. Whether you are part of this generation or any other, it’s never too early to start saving, so you can reach your homeownership goal sooner rather than later. You’ve likely heard a ton about Millennials, but what about Gen Z? In the next 5 years, this generation will be between the ages of 23 and 28, and they’re eager to become homeowners faster than you may think. According to … [Read more...]
