Buying Your First Home: The Millennial Way

Owning a home is an accomplishment we all look to achieve. More and more millennials especially have that goal in their minds. They are not lazy kids, they are adults who want to enter, or who have already entered, the home-owners market. Whether it is due to them having kids or just wanting their independence, more and more millennials buy homes to start shaping what they want their future to look like. There are certain things they look for and they are changing how people used to go about looking for homes. Many millennials may have substantial student loan debt to account for that may make things a little tricky. Even so, they are still finding ways around that to purchase their homes.

Millennials Look For Certain Things In Homes

Despite what their finances may look like, there are still certain things millennials look for in their homes.

Technology

They know technology and want their house to have the latest technological comforts. Whether it is for surveillance or just to have them, millennials want their homes to have the latest technology.

Proximity

Millennials are busy, and they want to have a good balance in their lives. They want to be close to their schools, their kids’ schools, their jobs, or they need to be close to transportation to get to these places. Whether it’s for work, childcare, education, or transportation, the proximity of their homes in relation to other aspects of their lives holds a lot of weight.

 

 

Green Sustainability

Now more than ever millennials are caring about their environment and want to make sure their homes are green and energy-efficient. Whether it is the use of solar panels installed on the roof or energy-efficient appliances, millennials consider these things as requirements and not flashy and interest-piquing additions that raise the value.

Space

Millennials want their space. Whether its outdoor or indoor space doesn’t matter, as long as their future homes have open floor plans and green space. They want space in their homes for their families and friends to gather. Many also want space for their kids to be able to play. They also want green space outside for their pets to be able to run around.

How Millennials Buy Homes Is Changing

Previous generations took to the phonebook or through word-of-mouth to find realtors to work with. Now, millennials are taking to technology for help. More millennials find their realtors or even their homes through apps.

 

 

Realtors Are Adapting To The Technology

Realty companies are starting to catch onto this as well. Realogy – owners of some of the top real estate firms – use technology that is designed with millennials in mind. The company partnered with Amazon to offer TurnKey Home Purchasing Service. TurnKey quickly pairs potential buyers with the right real estate agent for them by having them fill out a questionnaire.

TurnKey also helps millennials after the home is bought. If millennials buy homes using a TurnKey agent, they will receive free smart home products worth between $1,000 - $5,000 – depending on the purchase price of the home. Amazon will also offer Amazon Home Services such as cleaning and help to install appliances.

Technology, such as TurnKey, is desirable to millennials because they not only find a real estate agent; they also get help making their home move-in ready – all with the use of one app.

Millennials Buy Homes Easily With Title Or Installment Loans

While buying homes for millennials may be difficult due to their finances, there are other options. A title loan or a signature installment loan from Wisconsin Auto Title Loans can be the help they need to make their home-owning dreams a reality. The process for both loans is simple. Just start by filling out our online form and we will give you a call to tell you what else needs to be done.

Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.