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REALTY EXECUTIVES Regional Office

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Millennials Are Doing What?!

(Published on - 6/4/2018 2:40:05 PM)

Think back to the very first home you purchased.  What was it like?

I think the majority of us can safely say that it was small—nothing to build a family around, and probably in need of many upgrades.  The house my parents first brought me home to was the top half of a 2-story duplex. With minimal space, heat that was in-and-out, and a bedroom not even big enough for a pack-n-play, Mom and Dad delighted in their very first home purchase and proudly took care of their little nook.

Over time, they creatively mapped out their dream home, knowing one day that they would upgrade. Slowly but surely, they renovated and updated what they could until it was time to sell.  Almost 30 years later, I have been a witness to my parents moving forward in the Real Estate world more than once, and I have finally seen their dream home come to life. This is a fairly typical progression for home owners alike.

The term ‘starter home’ is not unknown to Realtors; we all know what it is. It seems like a practical purchase—one that helps prepare for moving up and onward to something bigger in the future. Most of us have gone down this very path.

Surprisingly, a large number of Millennials have decided to skip the traditional starter home step and simply wait until they can purchase their forever homes—first! Is this becoming the new normal? What is causing such a change?

Click HERE to read the full blog and see the stats!

Do you think renting longer and buying a forever home is the right choice? Let us know your thoughts by emailing AndreaKane@RealtyExecutives.com

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