The Peter Pan generation who have delayed everything from having children to getting married think buying a home is a good investment.
There is an assumption that Millennials don’t understand the value of owning a home just because their rites of passages to adulthood have been delayed.
After many of these young adults finished their higher education and tried to find a job there were none to be found. At least not a job with a salary that would allow them to pay back their student loans, pay rent and save for a home.
So they stayed with the parents for awhile longer. This also means that were more likely to delay getting married and having children. Millenials aren’t worse than their Gex X and Baby Boomer predecessors but they do have different buying habits.
- 14% think they will buy a home in the next two years (which means they are in down payment saving mode)
- 76% think owning a home makes more sense than renting
- 73% think that owning a home is a good investment
- 61% would describe the economy as good
- 39% feel that the Real Estate Market in Ontario will get stronger next year
- 48% of believe that the Real Estate Market will look better in the next 10 years
Whether you are a Baby Boomer, Gen X or Y and you are ready to sell or buy, give John and Christie a call at 1-800-367-2037 to talk about what your options area in the Barrie and Area Real Estate Market.