Millennials are the up and coming home buyers. In this week’s episode of Coffee with Coach Carter, Coach Carter sits down for coffee with Ashley Traylor, senior at Murray State and The Vince Carter Team’s summer intern, to discuss what she wants in a future house and how sellers can appeal to her home interests.
When Ashley goes to buy her first home, she said she will be looking for a house that is in her price range. It is important to her that the house she buys is in or below her price range to set her future up for financial peace. In addition to price, she wants a house she can add value. She doesn’t want a complete fixer upper, but also not completely renovated. If she can complete small projects here and there, then she can increase the value of her home, so she makes more money when she sells the home.
The number one turnoff for a millennial like herself is a dirty house. She said as a buyer, she doesn’t want to walk inside and see dog fur piled on the baseboards or dirty dishes in the sink. Fixtures and features can be updated in older homes, but if a house is dirty, then a buyer will want to walk out. A selling feature of a home is the cleanliness!
As far as the economics of house buying, she said she believes her generation is split into two groups of people: those who will wait until they are older to buy homes and those who will buy homes early to plant their roots. She said more students are in debt today because of rising tuition costs. In order to pay off those loans, her generation will wait to buy a home until they are financially stable. On the other hand, she said she believes the other half of her generation will get married young and want to buy a house to begin making a home and settling in a neighborhood.
Every generation is different with the house market, but we can expect some modest house buyers in the millennial generation.