What Do Younger Buyers Look For In A House?

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First-time home buyers have always been an important demographic when measuring the health of the housing market. Historically, younger buyers have accounted for around 40 percent of all home sales but, since the housing crash, there have been fewer first timers active in the market. Because of this, a lot of attention has been paid recently to the home buying habits of young Americans. But what do prospective home buyers between the ages of 18 and 34 look for when buying their first house? Well, according to a recent survey conducted by SurveyMonkey, it may not be what you think. For example, though conventional wisdom says most young people would prefer an urban lifestyle, the results show considerations such as walkability and access to public transportation are relatively unimportant to Millennial buyers. Instead, first-time buyers were more likely to choose a neighborhood for its schools, safety, and affordability. In addition, most young buyers cited practical reasons for wanting to buy rather than rent a home. In fact, the number one reason first-time buyers said they wanted to buy a house was for a sense of stability and permanence. Having a safe place to invest their money and wealth ran a close second. More here.

First-Time Home Buyers

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