Wednesday, September 30, 2015

Millennials Becoming Homeowners!

First-Time homeowners at their townhouse in Maynard
Housing wire magazine recently published and article entitled Realtor survey: Millennials are no longer a renter generation. Well, I guess it's a catchy headline but really what's the surprise? Millennials are smart, hard-working people and they want the same things every other generation wanted when they were establishing themselves as self-sufficient adults - financial security and a comfortable place to live where they can have a great quality of life that to enjoy now and in the future.

These happy home-owners (pictured above) closed in September on their first home, a townhouse at Oak Ridge in Maynard and they are so excited about their move. After renting a similar townhouse for a couple of years at Deer Hedge Run in Maynard, like a lot of smart Millennials, they decided it was time to pay their own mortgage instead of their landlord's. With rents going through the roof, and interest rates as low as they are going to be for a long time (the Fed has said they will start going up again by year-end) a lot of younger buyers are coming into the market and Maynard has some great opportunities for townhouses and single-family homes. See homes for sale at www.marilynmessenger.com.

While headlines are focusing on Millennials becoming home-owners, baby-boomers are a large segment of the housing market and they are moving to down-size/simplify, relocate, or change their lifestyles. I recently worked with a couple who owned a two-family house in the city. Tired of the congestion and of being a landlord, they wanted a smaller, more manageable single-family house and decided Maynard would be the place to move. They had friends in Maynard, love the open space and the thriving arts community; she is an artist. And like many boomers who may be eligible for retirement, he is still works in Cambridge and is finding the commuter rail service from west Concord an easy commute. They closed on a single-family in Maynard this past month and are happy with their choice.

Home-ownership is not about age. It is about making smart financial decisions and being comfortable in a place where you can do the things that are important to you. It's never too soon or too late to make that move!
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About the author: Marilyn Messenger is a licensed real estate broker, a Certified Residential Specialist and Accredited Buyer Representative associated with Andrew Mitchell and Company in Concord MA. She has been representing buyers and sellers in Maynard, Sudbury, Wayland, Concord, Stow, and the towns west of Boston since 1993. Click here to read what her clients say.


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