I remember growing up and as a teenager wanting my own place and to be an “adult”. After all, it’s an important right of passage to have your own home. At the same time, it was awfully nice to have your parents footing the bill for groceries and to keep a roof over your head.
Now, almost a generation later (yikes…did I just type that!), young Americans are waiting much longer to leave the nest. Part of the problem was the recession and the fact that it was harder to leave home and find work than it might have been in years past. Parents seem more tolerant of an extended stay these days.
Well, that tolerance seems to have run out. Increasingly, with a warmer economy, American parents are encouraging their kids to find there own homes and in our business of real estate, this will add a substantial amount of demand to the market. Good news for home owners…especially if you own a small home or condo that would be a good fit for a first time home buyer. For those who are considering being a first time home buyer, consider that this will put upward pressure on prices at the bottom of the market. The sooner you can get into the market, the better.
Call us to find out more about your options and to get a referral to an astonishingly great agent. In the meantime, enjoy the infographic below.
