{"id":4405,"date":"2022-11-03T05:00:44","date_gmt":"2022-11-03T10:00:44","guid":{"rendered":"https:\/\/nwiloanguy.com\/blog\/do-you-believe-homeownership-is-out-of-reach-maybe-it-doesnt-have-to-be\/"},"modified":"2022-11-03T05:00:44","modified_gmt":"2022-11-03T10:00:44","slug":"do-you-believe-homeownership-is-out-of-reach-maybe-it-doesnt-have-to-be","status":"publish","type":"post","link":"https:\/\/nwiloanguy.com\/blog\/do-you-believe-homeownership-is-out-of-reach-maybe-it-doesnt-have-to-be\/","title":{"rendered":"Do You Believe Homeownership Is Out of Reach? Maybe It Doesn\u2019t Have To Be."},"content":{"rendered":"

\"Do<\/p>\n

It turns out, millennials<\/a> aren\u2019t the renter<\/a> generation after all. The 2022 Consumer Insights Report<\/em><\/a> from Mynd<\/em> says there\u2019s a portion of millennial and Gen Z buyers who are pursuing homeownership as a way to build their wealth, but it may not be exactly the way previous generations have done it. The study explains how they\u2019re breaking into<\/a> the market:<\/span><\/p>\n

\n

\u201c. . . younger generations of Americans are not buying into that dream in the same way that older generations have. A growing number of Americans are choosing to make their first real estate purchase as an investment property.\u201d <\/strong><\/em><\/p>\n<\/blockquote>\n

Instead of buying a home and moving into it themselves, some young buyers are purchasing a home so they can use it as a rental. This tactic may be gaining popularity, at least in part, because of the affordability challenges brought about by today\u2019s higher mortgage rates<\/a>. The report above mentions how many people in this group are considering this approach. It says<\/a>:<\/p>\n

\n

\u201cAlmost half of Millennials and Gen Z (43%) are considering buying an investment property compared to only 9% of Baby Boomers and 27% of Gen X.\u201d<\/em><\/p>\n<\/blockquote>\n

Why Younger Buyers Are Buying a Home To Use as a Rental<\/strong><\/h4>\n

This strategy allows buyers to continue living in their current location, like the bustle of a city apartment or a neighborhood that they know and love, where they couldn\u2019t afford to buy. But instead of giving up on the idea of owning a home, they buy a home in a more affordable area with the intention of renting it out.<\/p>\n

In a way, they\u2019re getting the best of both worlds. They live where they want, and they still own a home where they can afford it.<\/strong><\/p>\n

Their goal is to generate passive income and diversify their assets. It works like this: in addition to having a rental stream of income, the equity they build<\/a> in their house will also help grow their net worth<\/a> over time.<\/p>\n

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

If you\u2019re thinking about buying a home as an investment strategy to build your wealth, let\u2019s connect to explore your options and nearby areas that may have homes that fit what you\u2019re looking for.<\/p>\n

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

It turns out, millennials aren\u2019t the renter generation after all. The 2022 Consumer Insights Report from Mynd says there\u2019s a portion of millennial and Gen Z buyers who are pursuing homeownership as a way to build their wealth, but it may not be exactly the way previous generations have done it. The study explains how […]<\/p>\n","protected":false},"author":1,"featured_media":4406,"comment_status":"false","ping_status":"closed","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-4405","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":"\nDo You Believe Homeownership Is Out of Reach? 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