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Category: Gen Z

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What You Want To Know If You’re Pursuing Your Dream of Homeownership

Written by Key West Mortgage Syndicated User on . Posted in Buying Myths, First Time Home Buyers, For Buyers, Gen Z, Housing Market Updates, Key West Florida News, Key West News, Millennials, Move-Up Buyers.

If you’re a young adult, you may be thinking about your goals and priorities for the months and years ahead. And if homeownership ranks high on your goal sheet, you’re in good company. Many of your peers are also pursuing their dream of owning a home. The 2022 Millennial & Gen Z Borrower Sentiment Report from Maxwell says: “Many young adults have demonstrated their resolve to embark on the journey toward homeownership soon. More than half of millennials and Gen Zs plan to apply for a mortgage sometime within the next year.” Let’s take a look at why homeownership makes the top of so many...

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The Next Generation of Homebuyers Is Here

Written by Key West Mortgage Syndicated User on . Posted in Demographics, First Time Home Buyers, For Buyers, Gen Z, Key West Florida News, Key West News.

Many members of Generation Z (Gen Z) are aging into adulthood and deciding whether to rent or buy a home. If you find yourself in this group, it’s important to understand you’re never too young to start thinking about homeownership. The sooner you start planning, the sooner you can move on from renting. As you set off on your journey and plan your next move, here are a few reasons to think about homebuying this year. The Reasons Gen Z Want To Become Homeowners While the majority of Gen Z haven’t entered the housing market yet, a large portion plan to according to a realtor.com report. The report...

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Is a 20% Down Payment Really Necessary To Purchase a Home?

Written by Key West Mortgage Syndicated User on . Posted in Buying Myths, Demographics, Down Payments, First Time Home Buyers, For Buyers, Gen Z, Key West Florida News, Key West News, Millennials.

There’s a common misconception that, as a homebuyer, you need to come up with 20% of the total sale price for your down payment. In fact, a recent survey by Lending Tree asks what is keeping consumers from purchasing a home. For over half of those surveyed, the ability to afford a down payment is the biggest hurdle. That may be because those individuals assume a 20% down payment is necessary. While putting more money down if you’re able can benefit buyers, putting 20% down is not mandatory. As Freddie Mac puts it: “The most damaging down payment myth—since it stops the homebuying process before...

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