Thirtysomethings Jump Into The Housing Market: Buying a home in Dublin, Ohio, Dublin Ohio Real Estate
If you're thinking about buying a home in Dublin, Ohio this Fall now is a great time to get your ducks in a row. Target a great area, find a realtor who specializes in selling homes there, and team up with a seasoned lender so you make sure you get a home that fits your budget.
Who’s buying homes these days? The next big block of first time homebuyers are Generation Y, the Millennials, born between 1980 and 1995. When the market hit the skids a few years ago, many buyers in this age group steered clear of the housing market. Now that the market is improving, and values are on the way back up, these Millennials are expected to make up almost a third of all first time homebuyers.
Reasons to buy:
The government wants people to buy homes as it helps the general economy. So, they’ve made it a bit easier to buy. Fannie Mae and Freddie Mac offer lending programs where buyers can put a 3% to 3.5% down payment. These programs have been around awhile, but as a bonus, annual mortgage insurance premiums are lower, making it more affordable to get into a home. Ask your lender about first time homebuyer options that may benefit you.
What Do Thirtysomethings Want in a Home?
It’s always been about location, but to the Millennials, location is the key reason to buy.
This generation is focused on neighborhoods and their commute time to work. Many like areas where there is good walkability and access to local restaurants, coffee shops and parks.
Bigger is not always better
Research shows many Milennials spend little time at home, so the size of home isn’t as big of a priority. In fact, many like a smaller home as it’s less to clean and keep up. They want more time to enjoy life.
Home is an investment
We’ve found many of these thirtysomethings aren’t as attached to their homes and see it as more of a short term strategic investment. They don’t plan to stay there forever, it’s more of a way to get from point A to point B. That's why it's more important than ever to team up with a seasoned agent who specializes in the area where you are looking!
Need help or have questions? Call or text us! (614) 284-8622 Bob and I specialize in homes for sale in Dublin, Ohio, Dublin Ohio Real Estate, Columbus Ohio Real Estate, buying a home in Dublin, Ohio.