Did you know that the largest percentage of home buyers in 2019 were older Millennials (ages 30 to 39)? According to the 2020 Home Buyers and Sellers Generational Trends report, they made up a quarter of the total number of home buyers in our country last year. Because many of these individuals are getting married and forming families, it is important for real estate agents to understand their wants/needs of this age demographic because they have become a dominant force in the market. Continue reading and discover a few important points about older millennial home buyers.
(The Following Data was taken from 2020 Home Buyers and Sellers Generational Trends Report).
They are tech-savvy.
Millennials grew up using computers, cellphones, tablets, and other technologies. According to the data, 63% of these home buyers found their home online. With this, the quality of online listings can’t be stressed enough when it comes to this age demographic. Older millennials expect to see high-resolution photographs and virtual tours when browsing home listings online.
They want to work with an agent.
According to the Trends report, 52% of older millennials were first time home buyers. One can assume that because the home buying process is new to them, they want to work with a real estate agent who will help guide them through the entire process. The report concluded that 92% of older millennials purchased using a real estate agent.
They are concerned about commuting costs
According to the data gathered, 41% of older millennials said that commuting costs were very important to them. This means that many of the home buyers would compromise in other areas (price of home, size of home, etc.) for lower commuting costs.