The Savvy Millennial Home Buyer
In its 2016 Consumer Housing Trends Report, Zillow Group examined some characteristics shared by the Millennial demographic, which are those folks ages 18-34 according to the study. Millennials account for 42% of today’s homebuyers, according to survey. The survey also found that Millennials bring deep financial savviness and caution to the home-buying process, presumably due in part to their intense reliance on technology and crowdsourced information.
Millennials value a number of other qualities in the home-buying process, according to the survey:
- Geographic diversity: not all Millennials live in urban centers. In fact, “just one quarter of Millennial homeowners live in an urban area [and] half of all Millennials live in suburban communities”.
- Sophistication: “Millennials use more resources to educate themselves and research agents and lending professionals more than any other generation.”
- Expertise & Speed: Millennial’s engage real estate agents much earlier in the process and shop for a home faster than prior generations.
I am a Millennial, according to at least some definitions. More importantly, I do identify with many of the observations contained in this survey. The times I’ve gone through the home-buying process, I’ve looked outside of urban cores and in suburban parts of Alameda and Contra Costa County. I’ve come to the table armed with my own deep market research. And I’ve demanded true expertise and speed in execution from my real estate service providers.
And that’s largely why I built Lindsay Place Realty – to deliver on my own demands as a home buyer.
