Three Lessons You Can Learn from Millennials About Home Buying

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The last people you’d get advice from when it comes to home buying are perhaps the millennials. They’re not exactly fond of homeownership. They take out numerous loans, and they marry late. But believe it or not, there are some things you can learn about home buying from this generation. Suspend your biases and take a look at these millennial habits that you can imitate yourself:

They surf the web

Gen Y practically grew up with the Internet. It has been a way of life for them to be online almost always. They carry this habit on to property shopping. For instance, they start their search for a home through listings posted on different websites. Before they walk into a lending agency in Utah, they monitor the current mortgage interest rates online.

These habits give them a really good advantage. For one, house hunting online before going to the actual viewings help narrow down the choices right from the start. This saves a lot of time and money. In your case, this would keep you from making this entire home buying process all the more stressful. As for checking out rates on the web, this can help you in determining your financial game plan.

They ask for their parents’ advice

According to a survey, half of the millennials who purchase homes consult their mom or dad before they do it. They trust the insight of these “authorities” when it comes to big spending. The principle to take away here isn’t asking your parents for advice. You are acknowledging the fact that there are people around you who can help you make a sound financial decision. Even though you have probably read so many online articles about how to buy a home right, nothing beats an opinion based on experience or expertise.

You can always talk to financial coaches, real estate agents, and your parents for some advice. Just a word of caution, though, when soliciting insights: Know which opinions matter, too. Your parents or relatives may not approve of you buying that house near the lake, but your agent says it’s a nice investment. Weigh these pieces of advice based on your lifestyle needs.

They prefer tiny houses

granny flat

There are lots of reasons behind this. For one, small homes are more affordable than conventional ones, not only in terms of acquisition but also in home maintenance. As mentioned earlier, millennials know the struggle of debt more than any other generation. When they’re able to finally have their own property, they don’t want it to be a burden.

Another reason for the admiration toward tiny houses is the eco-friendliness of the choice. Millennials are one of the most socially aware groups. They understand well how living arrangements can make a big environmental impact, and they want to participate in the movement of reducing such.

Now, you can go for a tiny house, too for the benefit of your wallet and the environment. Design and aesthetics don’t have to suffer. Just scroll down Pinterest boards, and you’ll see the most beautiful tiny homes.

Millennials may not be the best people when it comes to home and property buying, but that doesn’t mean that you can’t learn a thing or two from them. They surf the Internet a little too often, and they prefer tiny houses. They even ask their parents for advice. Rethink these habits, and maybe you can copy them yourself on your next house hunting.

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