Posted by: phillipsre | October 22, 2013

Time to Buy Gen Y?

Gen-Y-Buyers-and-Sellers3-230x300The conversation on Rent vs. Buy continues, and now it seems like the buyers that are coming around into the market are the Millennials. Millennials or Generation Y has generally been known to be more transient, flexible and seemed to move a bit more, as we have discussed in the past. This article from the Seattle Times, shows that Millennials are now looking into the buying market a bit more seriously. As this generation watches interest rates go down and rents go up, it starts to become more feasible to invest in a home. Additionally, with the high supply of housing in the area, these Gen Yers are able to save their money to purchase a home and get in on the American Dream.  As a real estate agent, if you do end up selling to Gen Y buyers, they are still a picky group, as we talked about when renting to them. Realtors need to do their homework on these buyers, just like any other client, and appeal to their Millennial interests. As a Gen Y buyer (or even a Gen X buyer) there are some tips to remember before you buy as well. One very important tip is to make sure you don’t try and go at it alone, even though there is a ton of information available online, a licensed real estate agent will be able to work for you and help you get the best deal. A good agent will use technology to assist in the search, to make the most of your time, but the real work happens in person.

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