A new report indicated that Millennials are flocking to Florida, Texas and Colorado, since many are now able to work from home so they can live anywhere. They are looking for low tax states with a great quality of life. They want to be in cities with great amenities and the ability to walk to them. Thinking ahead, since many are married now and either have children, or are planning on having children, great schools are factoring into their decision making process.
Politics may be a factor, as well as, Millennials either gravitate towards cities that are liberal or conservative depending on their personal political ideology and there are plenty to choose from. These are often first time home buyers. And as always, my advice is location, location, location. Further, if you buy crap, you will own crap. Clearly, there are no bargains in real estate. Homes that sell for less than homes nearby usually have some negatives that command a lower price. Don't do it because selling it later will be a problem.
Buying in a good neighborhood with great schools, even if you don't have kids is critical to property values. Consider curb appeal. I know young people often like contemporary styling that is trendy; but keep in mind what looks good today, may not command the highest price in years to come. Generally, more traditional architectural styles with "charm" are safer down the road. As young people, buy as much house as you can afford and grow into it. With interest rates so low and the ability to deduct mortgage interest on loans up to $750,000, now is the time to buy a home. As a first time home buyer, you can even get a loan with just 3% down.
At Paragon Home Resources, we assist with life decisions. We can help in particular with buying that first home. The advice we provide will stand the test of time.
