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Are Young Buyers Simply Smarter than their Parents?

Posted at Ann Arbor Area Real Estate Buyers - First time buyers, income properties, property management by David McNamara

Jan. 5, 2009

Tagged with: ann arbor first time buyers, first time purchase, young home buyers

Are Young Buyers Simply Smarter than their Parents?

I had a young couple a few months ago who purchased their first home at a young age, but one of their parents had a startling comment to me after closing. “Wow, my kid is a lot smarter then I was, purchasing so young”. I understand that mortgages were harder to get in past years, rates higher, simply taboo, or various other reasons. But I have to say, times just may have changed for the better.

As a young agent, but third generation Realtor, and a student of history, I have to say I really love the time we are in now as it regards to the possibilities of ownership. Rates are really low and inventory expansive. The ability to get some equity right now in our first purchase seems to be much greater than a few years ago. We can now move into a home that we may not have to move from in a few years, but getting into a dream home right away. In a university town like Ann Arbor, students are able to purchase places and build equity while in school, and not just paying rent and at the whim of landlords. While many are town in these times, I think it is very important to look at the great possibilities of this time. Be smart. Be smarter than your parents, or at least take advantage of the possibilities this market is presenting us younger buyers. David A. McNamara – www.DAMcNamara.com

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