“The dream of homeownership is alive and well within “Generation Z,” the demographic cohort following Millennials.
Our survey…finds that Gen Z views homeownership as an important goal. They estimate that they will attain this goal by the time they turn 30 years old, three years younger than the current median homebuying age (33).”
If these aspiring homeowners purchase at an early age, the Urban Institute study shows the impact it can have.
Based on this data, those who purchased their first homes when they were younger than 25 had an average of $10,000 left on their mortgage at age 60. The 50% of buyers who purchased in their mid-20s and early-30s had close to $50,000 left, but traditionally purchased more expensive homes.Although the vast majority of Gen Zers want to own a home and are somewhat confident in their future, “In terms of financial awareness, 65% of Gen Z respondents report that they are not confident in their knowledge of the mortgage process.”
As the numbers show, you’re not alone. If you want to buy this year but you’re not sure where to start the process, let’s get together to help you understand the best steps to take from here.
Author:Nara Rakhmetova, MBA Phone: 202-491-5629 Dated: January 13th 2020 Views: 519 About Nara: My name is Nara Rakhmetova, I am a full time real estate consultant, specializing in Northern VA are...
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My name is Nara Rakhmetova, I am a full time real estate consultant, specializing in Northern VA area. I love my job and take every client's real estate needs personally. Many clients I helped in the past return to me when they again need to buy or sell, as well as send me their friends and family members. Introducing new technology into my services is very important to me. I am the only agent in the area offering Virtual Reality House Hunting service. Ask me how you can see homes for sale in Virtual Reality mode or list your home in VR mode. I take the stress out of the home buying or selling process and make the experience memorable and happy one. I do hope to get to help you as well.
"I cannot express enough gratitude and sing enough praises on Nara’s professional skills, incredible responsive, understanding of the market and unbelievable PATIENCE! She always makes you feel like you are her only client and top priority any time if the day!
We have known Nara since 2006 and have worked with her I’m 5 different transactions I. The past 14 years. And she had always provided top-notch service and she was always on our side! We felt confident we would make the most of the deal whether selling or purchasing the house.
We are finally settled in the house of our dreams and can’t wait to build new future and memories. Nara was able to close the deal within 1.5 days in a very highly competitive market with multiple offers. She has given us multiple advice on the real estate questions that were benefited us in the long run.
If you’re looking for an agent you should look no further and work with Nara."