{"id":2326,"date":"2019-06-20T05:00:56","date_gmt":"2019-06-20T10:00:56","guid":{"rendered":"https:\/\/nwiloanguy.com\/blog\/young-first-time-buyers-are-saving-for-their-dream-homes\/"},"modified":"2023-05-30T09:48:31","modified_gmt":"2023-05-30T14:48:31","slug":"young-first-time-buyers-are-saving-for-their-dream-homes","status":"publish","type":"post","link":"https:\/\/nwiloanguy.com\/blog\/young-first-time-buyers-are-saving-for-their-dream-homes\/","title":{"rendered":"Young First-Time Buyers Are Saving for Their Dream Homes"},"content":{"rendered":"

\"Young<\/p>\n

Young buyers (Millennials & Gen Z) have waited longer than previous generations to enter the housing market for their first home. However, this hasn\u2019t stopped them from dreaming about the home they will eventually buy. Many spend hours searching listings and building Pinterest<\/em> boards of their favorite home features.<\/span><\/p>\n

According to a survey from Open Listings<\/em>, 70% of single renters are more likely to spend their Sunday nights swiping through house listings than dating profiles.<\/p>\n

All that time window shopping has led 45% of millennials to expect the first home they buy to be their \u201cdream home<\/a>\u201d! They are willing to wait longer, save more for a larger down payment, and are pickier about the listings they want to tour and the features that they want<\/a> to see in their first home.<\/p>\n

Waiting a little longer to buy a home than their parents or grandparents did has also helped young buyers become more established in their careers prior to making such a large purchase. Lawrence Yun, NAR\u2019s Chief Economist,<\/em> recently commented<\/a>,<\/p>\n

\n

“Older millennials are now entering the prime earning stages of their careers, and the size and costs of homes they purchase reflect this. Their choices are falling more in line with their Gen X and boomer counterparts.”<\/em><\/p>\n<\/blockquote>\n

In some areas of the country, high competition in the starter home market forces young buyers to wait longer. The extra money they save during that time opens their search to bigger, more expensive homes.<\/p>\n

If this trend continues, older millennials will skip the starter home altogether, going straight to a trade-up or premium home instead.<\/p>\n

Bottom Line<\/strong><\/h3>\n

If you are one of the many young renters planning on buying your first home soon, let\u2019s get together to help determine what type of home will best suit your present and future needs.<\/p>\n

Source: New feed<\/p>\n","protected":false},"excerpt":{"rendered":"

Young buyers (Millennials & Gen Z) have waited longer than previous generations to enter the housing market for their first home. However, this hasn\u2019t stopped them from dreaming about the home they will eventually buy. Many spend hours searching listings and building Pinterest boards of their favorite home features. According to a survey from Open […]<\/p>\n","protected":false},"author":1,"featured_media":2327,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"facebook_10157519356927224_105287467588662":"","twitter_15771620_15771620":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[54],"class_list":{"0":"post-2326","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-local-info","8":"tag-100-financing","9":"entry"},"yoast_head":"\nYoung First-Time Buyers Are Saving for Their Dream Homes—NWI Loan Guy Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nwiloanguy.com\/blog\/young-first-time-buyers-are-saving-for-their-dream-homes\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Young First-Time Buyers Are Saving for Their Dream Homes—NWI Loan Guy Blog\" \/>\n<meta property=\"og:description\" content=\"Young buyers (Millennials & Gen Z) have waited longer than previous generations to enter the housing market for their first home. 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