Two generations are in a competition in finding their perfect home. The first group are the boomers, as being born between 1946 and 1964, these are the people who survived wars and atomic bombs, and the second group are the Millennials or Generation Y, who are great with new and advanced technologies and are social media experts. They may have a huge age gap and a lot other differences but they have one thing in common --- they are both in search of a perfect home.
Millenials / Generation Y -- the quest to find their first home.
As observed, millenials are likely not in a hurry to get their first home. Almost 23% of these generation are still dependent to their parents. Instead on renting their own space, they save their money to pay off their student debt and save more money to buy their own space in the near future. But once they decided to move out and get the space of their own, it is expected that they wont settle for anything less. They would rather not spend in getting married but rather invest it on their ideal home.
Boomers - The Left Out
Once their kids moved out or start their own family, these boomers are free to choose the lifestyle that they want. Either buy a home that suits their lifestyle or buy a property out of town where they can relax and settle whenever they want to.
But before getting your ideal home, regardless if you're a Millennial or a Boomer, here are some tips that you can follow:
*Get an Agent - they are the experts in getting you the perfect home that suits your needs.
*Choose the best Loan option - balance and think carefully about the different loan options that is available for you.
*An Extended Contract Means More Solidity - The best and popular option is the 30-year contract. There is an assurance that the payment is not going to change at any point and you can still decide if you want to sell it after a few years or not.
But nevertheless, Boomer or not, Millenial or not, we all dreamed of getting our ideal home. Happy house hunting!