Advice for Gen-Y home buyers
In This Post
Gen-Y home buyer profile, and what to watch.
In a recent post Some Encouraging Words - A Look Ahead Eleanor Thorne relays information that Gen-Y buyers will be out in numbers and recommends what we as Realtors should pay attention to if we want their business.
Here is a bulleted list of Gen-Y traits she suggests we pay attention to:
- Gen Y loves instant gratification
- Gen Y is notorious for not being able to wait in line
- Gen Y is known for having big expectations.
- Gen Y is tech dependent.
This is a timely article, and I agree that agents need to embrace the methods of the buying public. I also have some ageless advice for the Gen-Y would be home buyer.
· Instant gratification is nice if you are scoring concert tickets or you can take a day off from work to wait in line all night and be the first in line to get the latest i-gimmick. In reality, you will probably own and interact with your new home at least 50 times longer than you will with you next 10 personal communication devices.
· You don’t have to wait in line to buy a house, but one good tip is make sure you’re not the only one interested in a particular house before you buy it.
· Big expectations are a good thing to have. Make your list and understand that some things you may have to compromise on. You will be able to change most things later.
· Relying on technology is important but when shopping for a home, rely more on your five senses plus the good sense of an experienced Realtor, a local, recommended Realtor, and a respected, detailed inspector.
Location – Live near to places you often commute for work or entertainment.
Location – The environment: A condo? A townhouse? A stand alone. A small lot or large? What will your life be like when you are hanging at home? Spend a few hours in the home, yard and neighborhood. Knock on doors and ask neighbors how they like living there.
Location – Will anyone else want to live in this spot when you're ready to move on. Resale is important.
Have patience, my young friends. Work with professionals who go into hundreds of homes each year. There is no money back guarantee if you want to return the home in the first 30 days.