Millennials Have Great Home Buying Potential
There is no shortage of information on the internet that approaches the topic of Millennials with negativity. However, we have a different perspective on the American generation in their 20s and 30s. Millennials have great home buying potential.
Here are a few reasons why we are impressed with the Millennial Generation:
The Information Age
This generation of young adults may be the first generation to fully embrace the information age. At any time they can find the answers to their questions online. This means that they stay informed and educate themselves on the best way to accomplish their goals.
As home buyers, Millennials are more likely than any other generation to do online research first. They often come to the home buying process well informed and prepared for success.
Along with their inclination to utilize information, this generation is forward thinking and focused on their financial future. Millennials like the idea of building equity and utilizing it to their advantage.
Understanding credit and how to use it wisely is a financial tool available to this generation. There are more ways to build a healthy credit score now, than there has been in the past. You can read more about maintaining your credit score here in one of our past articles.
Millennials want a space that is truly their own. There is no shortage of options for homeowners to customize every room of there home. This may also be the reason they look forward to leaving rented spaces and invest in a home of their own.
This generation is not afraid to take on a “fixer upper” if it is a good investment. They are also happy to find the best DIY (do it yourself) and home repair tips online. Tackling big or small projects can be a fun way for the Millennial generation to make their home unique.
Tech and Eco Friendly Homes
Many of the upgrades Millennials are adding to their homes are also focused on the future. Technology and environmentally friendly centered lifestyles are increasingly more important to this generation.
While some older generations are afraid of the impact that technology has on our lifestyles and culture, Millennials are using technology to make homes and neighborhoods more efficient and safe. The advanced home monitoring systems, use of solar energy, connecting to neighbors through social media, and other technologies are just some of the tech embraced by this generation.
Aware of the importance of their impact on the environment the Millennial generation is also a large part of the effort to adapt to more eco-friendly lifestyles. This article highlights a number of small ways that this generation can utilize more eco-friendly practices at home.
We are excited to see the potential that Millennials are bringing to their homes and neighborhoods. At TexasLending.com we are happy to deliver valuable information to this generation and others about home buying and ownership in our blog.
If you are ready to buy a home or refinance your current home, it’s easy to get started at TexasLending.com. Our streamlined mortgage process is made easier with technology that can be completed from your computer or smart phone. Get started today!