Although it is often seen as a long road to afford buying a house, young adults ages 18-34 (millennials) haven’t stopped aspiring to own their first home.
Recent research shows that 32% of people aged 18-34 years old are planning to buy a home in the next 12 months, compared to only 21% of those aged 35-44.
Further research reveals that 74% of people aged 18-34 were planning to buy a home in the next 5 years.
So where are young adults buying their first homes? Jed Kolko from Trulia stated “from 2012 to 2013, population growth for Millennials was highest outside big cities. The differences aren’t huge, but there’s clearly no mad rush to the cities.”
Hilton Head Real Estate believes Hilton Head and Bluffton to be a great place for millenials to buy their first home. If you are worried about mortgages, you should definitely take the time to read this post “The biggest misconception about mortgages.” Don’t hesitate to contact Hilton Head Real Estate Partners if you have any questions about buying your first home.