5 Reasons Millennials Are Buying Homes

Written by Lakeland FL Mortgage Syndicated User on April 19, 2023. Posted in Demographics, First Time Home Buyers, For Buyers, Lakeland FL Mortgage, Millennials, Mortgage Lakeland FL.

In the United States, there are over 72 million millennials. If you’re part of that generation and have thought about buying a home, you aren’t alone. According to Zonda, 98% of millennials want to become a homeowner at some point if they aren’t already. But why? There are plenty of reasons you may choose to become a homeowner. Here’s why other millennials have made that decision (see graph below):This graph shows why millennials are buying homes according to Zonda’s 6th annual millennial survey. The top reasons include building equity, a change in life stage, wanting stability, rising home...

Think Twice Before Waiting for Lower Home Prices

Written by Lakeland FL Mortgage Syndicated User on April 18, 2023. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Lakeland FL Mortgage, Millennials, Mortgage Lakeland FL, Move-Up Buyers, Pricing.

As the housing market continues to change, you may be wondering where it’ll go from here. One factor you’re probably thinking about is home prices, which have come down a bit since they peaked last June. And you’ve likely heard something in the news or on social media about a price crash on the horizon. As a result, you may be holding off on buying a home until prices drop significantly. But that’s not the best strategy.A recent survey from Zonda shows 53% of millennials are still renting right now because they’re waiting for home prices to come down. But here’s the thing: the most recent data...

Could a Multigenerational Home Be the Right Fit for You?

Written by Lakeland FL Mortgage Syndicated User on March 8, 2023. Posted in Baby Boomers, Demographics, First Time Home Buyers, For Buyers, Lakeland FL Mortgage, Millennials, Mortgage Lakeland FL, Move-Up Buyers.

During the pandemic, many of us reexamined the meaning of home for ourselves and our loved ones. Today, that can be seen in the recent rise in multigenerational households. According to Jessica Lautz, Deputy Chief Economist and Vice President of Economic Research at the National Association of Realtors (NAR):“Multi-generational buying may be a home where families live in the same home with elderly parents, children who have boomeranged back home, or other extended family members. While this is not a new concept of living, it is one which has gained recent popularity.”And citing data from Pew...

What You Want To Know If You’re Pursuing Your Dream of Homeownership

Written by Lakeland FL Mortgage Syndicated User on December 2, 2022. Posted in Buying Myths, First Time Home Buyers, For Buyers, Gen Z, Housing Market Updates, Lakeland FL Mortgage, Millennials, Mortgage Lakeland FL, Move-Up Buyers.

If you’re a young adult, you may be thinking about your goals and priorities for the months and years ahead. And if homeownership ranks high on your goal sheet, you’re in good company. Many of your peers are also pursuing their dream of owning a home. The 2022 Millennial & Gen Z Borrower Sentiment Report from Maxwell says: “Many young adults have demonstrated their resolve to embark on the journey toward homeownership soon. More than half of millennials and Gen Zs plan to apply for a mortgage sometime within the next year.” Let’s take a look at why homeownership makes the top of so many...

Your House Could Be the #1 Item on a Homebuyer’s Wish List During the Holidays

Written by Lakeland FL Mortgage Syndicated User on November 29, 2022. Posted in For Sellers, Housing Market Updates, Lakeland FL Mortgage, Millennials, Mortgage Lakeland FL.

Each year, homeowners planning to make a move are faced with a decision: sell their house during the holidays or wait. And others who have already listed their homes may think about removing their listings and waiting until the new year to go back on the market. The truth is many buyers want to purchase a home for the holidays, and your house might be just what they’re looking for. Here are five great reasons you shouldn’t wait to sell your house. 1. While the supply of homes for sale has increased this year, there still aren’t enough homes on the market to keep up with buyer demand. As Nadia...

More People Are Finding the Benefits of Multigenerational Households Today

Written by Lakeland FL Mortgage Syndicated User on November 18, 2022. Posted in Baby Boomers, Demographics, For Buyers, Gen Z, Generation X, Lakeland FL Mortgage, Millennials, Mortgage Lakeland FL.

If you’re thinking of buying a home and living with siblings, parents, or grandparents, then multigenerational living may be for you. The Pew Research Center defines a multigenerational household as a home with two or more adult generations. And the number of individuals choosing multigenerational living has increased over the past 50 years. As you consider this option for your own home search, know it could help you on your homeownership journey and provide you with other incredible benefits along the way. Living with Loved Ones Could Help You Achieve Your Homeownership Goals There are several...

Do You Believe Homeownership Is Out of Reach? Maybe It Doesn’t Have To Be.

Written by Lakeland FL Mortgage Syndicated User on November 4, 2022. Posted in Demographics, First Time Home Buyers, For Buyers, Gen Z, Lakeland FL Mortgage, Millennials, Mortgage Lakeland FL, Move-Up Buyers.

It turns out, millennials aren’t the renter generation after all. The 2022 Consumer Insights Report from Mynd says there’s a portion of millennial and Gen Z buyers who are pursuing homeownership as a way to build their wealth, but it may not be exactly the way previous generations have done it. The study explains how they’re breaking into the market: “. . . younger generations of Americans are not buying into that dream in the same way that older generations have. A growing number of Americans are choosing to make their first real estate purchase as an investment property.” Instead of buying...

Millennials Are Still a Driving Force of Today’s Buyer Demand

Written by Lakeland FL Mortgage Syndicated User on October 28, 2022. Posted in Demographics, For Sellers, Housing Market Updates, Lakeland FL Mortgage, Millennials, Mortgage Lakeland FL.

If you’re thinking about selling your house but wondering if buyers are still out there, know that there are still people who are searching for a home to buy today. And your house may be exactly what they’re looking for. While the millennial generation has been dubbed the renter generation, that namesake may not be appropriate anymore. Millennials, the largest generation, are actually a significant driving force for buyer demand in the housing market today. Here’s why. Millennial Homebuying Power While there’s no denying higher mortgage rates are making it more challenging to afford a home...

What Is Multigenerational Housing? [INFOGRAPHIC]

Written by Lakeland FL Mortgage Syndicated User on April 16, 2022. Posted in Baby Boomers, Buying Myths, Demographics, First Time Home Buyers, For Buyers, Gen Z, Generation X, Infographics, Lakeland FL Mortgage, Millennials, Mortgage Lakeland FL, Move-Up Buyers, Senior Market.

Some Highlights If you have additional loved ones coming to live with you but don’t have enough space, it may be time to consider a larger, multigenerational home. Some key benefits of multigenerational living include a combined homebuying budget, shared caregiving duties, enhanced relationships, and more. These benefits might be why more people are choosing to live in multigenerational homes today. Let’s connect so you can find a house that meets your changing needs and has plenty of space for you and your loved ones. Content previously posted on Keeping Current Matters

Millennials: Do You Need a Home with More Space?

Written by Lakeland FL Mortgage Syndicated User on March 1, 2022. Posted in Demographics, Down Payments, For Buyers, For Sellers, Lakeland FL Mortgage, Millennials, Mortgage Lakeland FL, Move-Up Buyers.

If you’re a millennial, homebuying might be top of mind for you. Your generation is the largest group of homebuyers in the market today and has been since 2014, according to the National Association of Realtors (NAR). And while other millennials are looking to buy for the first time, you may be one of the many who are now discovering you’ve outgrown your home. If that’s the case, you’re not alone. The past two years brought about significant changes for many people, and today, homeowners are reevaluating what they truly need in a home. As a recent report from the Wall Street Journal states: “They...

Category: Millennials