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Millennial Homebuyers | The McLeod Group Network - KW Capital City Blog

Wednesday, October 17, 2018   /   by Amy McLeod

5 Tips for Starting Your Home Search

In today’s real estate market, with low inventory dominating the conversation in many areas of the country, it can often be frustrating to be a first-time homebuyer if you aren’t prepared.


In a recent realtor.com article entitled, “How to Find Your Dream Home—Without Losing Your Mind,” the author highlights some steps that first-time homebuyers can take to help carry their excitement of buying a home throughout the whole process.


1. Get Pre-Approved for a Mortgage Before You Start Your Search


One way to show you are serious about buying your dream home is to get pre-qualified or pre-approved for a mortgage before starting your search. Even if you are in a market that is not as competitive, understanding your budget will give you the confidence of knowing whether or not your dream home is within your reach.


This step will also help you narrow your search based on your budget and won’t leave you di ...

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  amy mcleod, mcleod group network, homebuyers, buying a house, first time home buyers, down payment, owning a home, credit score, pre-approval, buying your dream home, millennial homebuyers

Wednesday, May 30, 2018   /   by Amy McLeod

Millennials Are Skipping Starter Homes for Their Dream Homes

A new trend has begun to emerge. With home prices skyrocketing in the starter home category, many first-time homebuyers are skipping the traditional starter homes and moving right into their dream homes.
What’s a Starter Home?
According to the National Association of Realtors (NAR), simply put, a starter home is a one or two-bedroom home (sometimes even a small, three bedroom). “Prices vary widely by market but starters on average cost $150,000 to $250,000 while trade-up and premium homes cost upwards of $300,000.”
Finding Their Forever Homes Now
A recent CNBC article revealed that there are many factors that delayed older millennials (ages 25-35) from buying a home earlier in their lives. The aftereffects of the Great Recession teaming up with larger education costs forced many to either remain living in their parent’s homes or to rent.
With the economy continuing to improve, many millennials have been able to break into bet ...

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  amy mcleod, mcleod group network, homebuyers, first time home buyers, millennial homebuyers, millennials, starter homes

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