There are strong sentiments about young adults and real estate. Primarily the notion is that “Millennials” who fall under the age range of 18-34 do not buy homes. Despite this notion, Millennials make up the biggest percentage of home-buyers today. Their faith that real estate is a savvy investment for their future has turned the current market around and has created a market perfect for first-time buyers.
What Experts Are Saying:
Real Estate analysts contend that this is a good time not only for first-time buyers but also to upgrade your home. First-time buyers are thriving in this market because there are less investors and all-cash offers than the past. The current market allows first-time buyers to not be the underdog during multiple-bid situations.
Who Is A First- Time Buyer:
Anyone who has not bought a home before can be a first-time buyer. Predominantly a first-time buyer is a Millennial. There are currently 87 million Millennials is the U.S. Households of those in their 30’s is predicted to increase by 2.7 million in the next ten years.
Qualifying as a First-Time Buyer:
Buying a home will be one of the biggest investments and returns that a person will have in their lifetime. Hence that is why you need a strong rapport when it comes to many aspects. The following are qualities that make a promising first-time buyer.
- Stable financing record
- Well-paying job
- Stable relationships
- Desire to settle down
The current market trend might show that first-time buyers can succeed, but this market can anyone with the qualities above. At Michael Barber Properties we want to help you in buying your new home. We promise to guide you through every step and learning experience that comes with homeownership and home buying. We are committed as your local realtor to provide you with the specialized real estate service you deserve. Call us today at 760.285.9899.