A Ruff Breakdown of Why Millennials Are Buying Homes


A Ruff Breakdown of Why Millennials Are Buying Homes
By Scott Rogers • October 9, 2017
I'll say no real surprises here, on this analysis put together by SunTrust Mortgage of why millennials are buying homes.... A desire for more living space tops the list, and is understandable -- as many millennials may be moving out of apartments or other smaller living spaces -- or may be sharing a home with a roommate, etc. It is good to see that millennials are interested in building equity in a home that they purchase. Buying a home, and thus having your monthly housing costs paying down the principal balance of your mortgage, is a much better feeling than paying those monthly housing costs each month to pay down your landlord's mortgage. A desire for more space or a yard for a dog is surprising, at first, but given the age of millennials, maybe there are more such buyers still in the pre-marriage, pre-kid stage of life? Knowing why you are buying a home, and how long you think you will be in that home, are important things to be thinking about as you are preparing to embark upon the home buying process. Thanks to JoDee Lambert at SunTrust Mortgage for this fun infographic. Receive Updates by Email Recent Articles: Is There A Price You WOULD Pay For This House? There Are Plenty Of Types Of Houses That Exist That Just Are Not Available To Purchase Home Sales By Price Range In The City Of Harrisonburg Are You Compromising On Aspects Of Your Next Home That You Can Or Cannot Change Later? How Much Slower Are The Winter Months In Our Local Housing Market? Rockingham County and New Home Sales Drive Surge in Area Housing Market Find The Balance Between Optimistic And Realistic Home Pricing Room Size Is Difficult To Understand Solely From Real Estate Photos How Much Would You Value Not Having To Prepare Your Home For Showings? One Out Of Four Homes Is Taking Longer Than A Month To Sell
Have any questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com
Based on information from the Harrisonburg-Rockingham Association of REALTORS® or its MLS, for the period Jan 1, 2000 through Nov 23, 2024 (unless otherwise noted).
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