Millennials have homebuying options across country
Posted on Monday, July 14, 2014 at 9:21:42 AM
Many millennials fresh out of college and in the workforce are thinking about things other than homebuying. However, there are a number of places across the country that offer ideal conditions for these first-time buyers to get into the market.
According to U.S. Census Bureau data analyzed by Trulia, several regions are perfect for millennials to find great deals on real estate. One of these is Peabody, Massachusetts, a small city north of Boston that can be much more affordable than living right in the urban sprawl. Overall, the cities on the list have led the way when it comes to a growing population of younger adults.
This could also be a sign of a larger trend. More millennials are finding confidence in the housing market, thanks in part to flexible lending standards and affordable residential financing rates. According to Zillow, this younger generation shouldn't assume they can't afford to buy.
Above all else, Zillow explained that millennials should still take their time when shopping for real estate. Like with any major purchase, homebuying requires serious research and planning ahead of time. A high level of preparation can get anyone ready for this big financial investment.