If you’re a millennial considering buying, it may be a fantastic time.
Millennials: Is it time to buy a larger home? I’ve had the good fortune to work with multiple generations: the silent generation, baby boomers, Generation X, and millennials. In today’s real estate market, all eyes are on millennials. Not just because they’re the largest generation, but also because they’re between the ages of 25 and 40, and these are commonly considered the prime years when people form households and invest in real estate.
If you’re like most people who are spending much more time at home these days, you may have an increasing need for more space, upgraded features, a bigger yard, or something else. For those of you who already own a house, there’s an excellent opportunity to move up in 2021. In 2020 I helped many millennials buy their first home or move up. I ran the numbers, and 90% of the houses I listed last year were bought by millennials.
Even if you’ve bought a home sometime in the last few years, you may have more equity than you realize right now. Equity is a huge factor to consider when thinking about moving because as equity builds over time, you can put it toward the down payment of your next house. Housing affordability is through the roof right now, and it’s powered by record-low mortgage rates.
If you’re a millennial contemplating moving in 2021, you’re not alone. Let’s connect to shed some light on your equity or discuss your opportunities in the market. Call or text me; our conversation might be the best one of your day.