DALTX Real EstateDALTX Real EstateDALTX Real Estate
  • Home
  • Guest Post
  • Agents
  • Contact Us
  • About
  • Advertise With Us
Reading: The Next Generation of Real Estate Addicts: Teenagers in Generation Z Say They’re Willing To Make Sacrifices For Homeownership
Share
Font ResizerAa
DALTX Real EstateDALTX Real Estate
Font ResizerAa
  • Home
  • Guest Post
  • Agents
  • Contact Us
  • About
  • Advertise With Us
  • Home
  • Guest Post
  • Agents
  • Contact Us
  • About
  • Advertise With Us
Follow US
© DALTX. All Rights Reserved.
DALTX Real Estate > Generation Z > The Next Generation of Real Estate Addicts: Teenagers in Generation Z Say They’re Willing To Make Sacrifices For Homeownership
Generation Z

The Next Generation of Real Estate Addicts: Teenagers in Generation Z Say They’re Willing To Make Sacrifices For Homeownership

4 Min Read
SHARE

Home-For-Sale-yard-Sign

You know those Millennials and how they want their mortgages with cheap rates and minimal down payments. They want speedy pre-approval and closings with no hiccups. And they want it all right now.

If that seems demanding, well, that’s the Millennial generation for you. The interesting news is, according to a recent survey by Better Homes and Gardens Real Estate, Generation Z is more willing to make sacrifices to achieve home ownership. That’s right: The same generation that knowingly misspells words all over Twitter and Facebook is willing to sacrifice more than the “y” and “o” in “your.” They say they’re willing to sacrifice social media access (HORRORS!) in order to own a home.

“We have a clear view of tomorrow through our Millennial consumer research – now it’s time to look at the day after tomorrow,” said  Better Homes and Gardens Real Estate president and CEO Sherry Chris. “Today’s teens are fiscally literate and realistic when it comes to their future. It’s quite profound that a generation that has never known a world without social media is willing to give up such a staple in their modern lives to achieve their dream home. With such mature insights at such a young age, Gen Z could very well be primed to be the next great generation.” 

According to BHGRE’s survey:

  • 97% of Gen Z think they will own a home in the future
  • 82% indicate that homeownership is the most important factor in achieving the American Dream
  • 53% would be willing to give up social media for a year
  • 39% would take their mom or dad as their date to the biggest night of their life up to this point – their high school prom!
  • 77% chose owning a home over owning a business
  • Of the 97% who believe they will own their own home, they estimate paying on average $274,323 to purchase their first home
  • Seems they are doing their homework (or just spending countless hours playing MineCraft) and are well-informed, since the latest US Census data finds the median cost of a home today is $273,500
  • 51% believe they know more about saving money compared to their parents at the same age

Now, just because they say they would sacrifice access to social media doesn’t mean that they’ll give up being online, as 95 percent of Gen Z says they’ll do most of their home shopping on the internet. Almost 60 percent say they plan to listen to their parents (FOR ONCE!) when it comes to buying a home, thanks to the experience they gained from the Great Recession. Additionally, this generation is considered a “generation of entrepreneurs,” so plan on seeing a lot more complicated income sources on those loan applications.

What do you think?

Luke Crosland Wants to Build a 29 Story Luxury Apartment Tower in Preston Center, The Highland House
HUD Suspends Foreclosures, Evictions As Coronavirus Keeps Businesses Closed
Need a Quiet Place to Retreat After The Holidays? Head to Yucaipa
How Competition is Causing $300K Over Asking, Waived Options, Cruises as Incentives
Celebrity Real Estate News is Hot and Getting Hotter in Ink: the Real Estalker Joins Variety
TAGGED:Buying a home in DallasDallas HomebuyersDallas Mortgage NewsDallas real estate newsGeneration Z HomebuyersMillennial homebuyersMillennialsMortgage Loans
Share This Article
Facebook Email Copy Link Print
Previous Article Monday Morning Millionaire: A Real NYC Fire Pole, Over-Top Media Room, Two Story Master Closet, Indoor Gymnasium, and (Almost) One Million Dollar Price Reduction
Next Article How Agents Live: Katy Trail Cascada Townhouse as Close to Single Fam as You Can Get!
Popular News
Dallas

What Can You Get For May’s Median Home Price? You Might Be Surprised

When is a Dilbeck a Dilbeck?
Splurge vs Steal: Far North Dallas
Homes Built for Dungeons And Dragons, Complete With a Watery Pit
Dallas Council Members Submit Budget Cuts With Goal of Slashing $104M From City Manager’s Proposal
about us

DaltxRealEstate.com is the largest real estate blog and the only one in North Texas.

Links

  • Privacy Policy
  • Terms of Service
  • Contact Us
  • Paid Guest Post Submission
  • Real Estate Glossary

Categories

  • Commercial Real Estate
  • Home Inspection
  • East Dallas
  • Monday Morning Millionaire

Get Involved

  • Advertise With Us
  • Write for Us: Submit Guest Post

Find Us on Socials

© DALTX. All Rights Reserved.
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?