If you’re wondering who dominates the buyer market these days in terms of numbers, it’s definitely the Millennial generation. This generation was born between 1980 and 2000 and grew up during the Millennium. They are currently entering the workforce in droves. The only problem is, this group hasn’t shown a great deal of interest in owning a home up until just recently. Maybe it’s the fact that they’re finally starting to get their finances under control or maybe it’s because they’re getting older and are now looking for a place to settle down. Millennials have been bombarded financially, as they pushed through the Recession, took on massive student loan debt and are part of an economy that’s less than stellar. And yet, Millennials still have a strong belief in the American Dream and a great deal of interest in owning a home someday.
Here’s what Millennials are saying about the real estate market
Older generations might look down on this optimistic, social-media-loving, eco-conscious generation but we celebrate their potential for good. Their path has not been the easiest entry into the workforce and it’s harder than it used to be to save up for a house. Zillow Group surveyed more than 13,000 homeowners and renters and found that people under the age of 36 make up HALF of all home buyers. Half! That’s huge! They also found that 75% of all buyers choose to use an agent, but of that number, Millennials are the least likely to do so. This doesn’t mean they are opposed to home buying, they are simply finding other ways to search for the right home.
How to help a Millennial want to buy a house
What does it mean if you’re a Millennial and you’re starting to feel the pressure to purchase a home but you’re not sure how to do it, who to ask for help, or how to move forward with this giant task. Buying a house is one of the biggest financial transactions of your life and it’s important to get it right. If you’re younger than 35, you are more likely to shop for houses online, to find an agent through online referrals, and you’re also more likely to keep this real estate agent for life, if they do a fantastic job for you.
So, here is what you need to know. The Bob Lucido Team is committed to you, young homebuyers. They want you to be happy and secure in a home that meets your needs. That’s why they have an entire team of 75+ dedicated real estate professionals to guide you through the home buying process. These Realtors know the Maryland market and they know how to find exactly what you need. Now it’s your turn to trust them.
Are you a Millennial interested in homeownership in the Baltimore area?
If you’re curious about the home buying process but not quite ready to buy, come learn about how you can own a house for less than you pay in rent.
The Bob Lucido Team is hosting a first time homebuyer happy hour workshop! You can join us for free bites and brews while learning how to get a raise in your paycheck by owning a home. You’ll also learn how to buy a home with only $1,000 down and how to qualify for up to $10,000 in closing costs.
Join us at Slainte Irish Pub and Restaurant on January 30th from 6-8:30pm. Reserve your spot today at boblucidoteam.com/happyhour.
We hope to see you there!