Gen Y Enters Homebuying Scene

Generation Y is finally entering the homebuying scene for 18 to 35 year olds. According to a Better Homes and Gardens study, however, Gen Y buyers are taking a slightly different approach to buying real estate.

Unlike former first-time buyers, typically unsure of exactly what they prefer, who often buy fixer uppers, generation Y buyers often know what they want. Among the homes and features they want are the following.

  • 77 percent want “essential, purposeful” homes with all the technological toys and capabilities they can afford;
  • 82 percent want to make home improvements on their own, in lieu of asking Mommy and Daddy for funding;
  • Even around 30 percent still want fixer uppers over homes that need simple TLC; and
  • 47 percent, almost one-half of them prefer to fix problems themselves instead of calling professionals.

This is a surprising departure from some’s perception that Generation Y is coddled, used to having all they want without working for it and possibly even lacking the initiative to solve their own problems. Are the “Millennials” just growing up or has the common general perception been wrong all along?

Cary Amo, representing Sotheby’s Real Estate in LaFayette and surrounding areas, makes a concerted effort to work with Gen Y buyers to help them find the smart home they want. As much as they want to do it themselves, first-time home buyers typically still need some trusted professional advice. Cary Amo offers his experience and expertise to Generation Y buyers with interest and sincerity.

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