What Millennials Want in a House and How Lenders Can Help

Sep 22, 2021 · What exactly are millennials looking for in a home and how can lenders help overcome potential barriers? Must-Have Features Drive Millennials’ Desire to Purchase. About 80% of millennials plan on owning a home at some point, according to a 2021 survey by …

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What Millennials Want In A House And How Lenders Can Help

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Majority Of Millennials Want To Buy A House Within 5 Years — …

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Jun 15, 2023 · Yet, against this backdrop, a new GOBankingRates survey found that 30% of younger millennials (25- to 34-year-old bracket) and 29% of older millennials (35 to 44) want to …

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FAQs about What Millennials Want in a House and How Lenders Can Help Coupon?

What do millennials want to see when buying a home?

Over 80% of millennials would like to view 3D virtual tours and digital floor plans when shopping for a home. Digital advances have transformed real estate marketing, Steven Gottlieb, an agent with Coldwell Banker Warburg, points out. ...

Can first-time home buyer loans help millennials?

First-time home buyer loans and programs from state housing agencies and lenders may be able to help Millennials without such connections. These programs are part of the reason why about 15% of Millennials ages 24 to 32 who bought homes from July 2021 through June 2022 told NAR they financed 100% of their home purchase with a mortgage. ...

Do millennials own homes?

Wealthy, college-educated millennials who have had a chance to pay down their student loan debt or were able to not have student loan debt comprise most of the millennials who now own homes. As a tech-savvy generation, millennials have changed much of the homebuying process over the past decades. ...

What percentage of home buyers are millennials?

According to NAR, Millennials only represented 28% of all home buyers. Instead, Baby Boomers made up the largest share of home buyers at 39%, likely due in part to the 12.6% increase in the national sales price and the 2.7 percentage point increase in interest rates over the same period. ...

Are millennials buying nicer first homes?

With fewer starter homes available, millennials are increasingly buying nicer first homes than previous generations did. During the pandemic, as home showings went solely online, millennials were among the groups buying properties. Millennials, as a group, tend to prefer to live close to their jobs. ...

Where are millennials buying homes?

The major metropolitan areas where Millennials are buying tend to be lower-cost Midwestern cities, according to Census Bureau and American Community Survey data analyzed by Apartment List in 2023. Meanwhile, the lowest rates of Millennial homeownership lie in expensive coastal metropolises. ...