Millennials are starting to buy homes, and their demands are shaking up the housing market. They are looking for starter homes that are move-in ready, eco-friendly, and which have updated kitchens and bathrooms. It’s important to Millennials to be close to the city but not in it and they also want to be close to work. They are unwilling to compromise because they have spent a long time saving up for a down payment and it wasn’t easy with all those student loan payments. They may also consider how to become a mortgage broker.
Well over 60% of first time home buyers are Millennials, and they comprise 34% of the home buying market. They are the largest generation since baby boomers and they are also the most diverse and best educated. What’s more, they associate home ownership with the American Dream more than any other generation before them. Learn more about what Millennial home buyers are looking for in a starter home from this infographic!