{"id":8230,"date":"2022-11-03T06:00:44","date_gmt":"2022-11-03T10:00:44","guid":{"rendered":"https:\/\/blog.sfloridaluxuryhomes.com\/?p=8230"},"modified":"2022-11-03T06:00:44","modified_gmt":"2022-11-03T10:00:44","slug":"do-you-believe-homeownership-is-out-of-reach-maybe-it-doesnt-have-to-be","status":"publish","type":"post","link":"https:\/\/blog.sfloridaluxuryhomes.com\/?p=8230","title":{"rendered":"Do You Believe Homeownership Is Out of Reach? Maybe It Doesn\u2019t Have To Be."},"content":{"rendered":"
\n

\"Do<\/p>\n

It turns out, millennials<\/a> aren\u2019t the renter<\/a> generation after all. The 2022 Consumer Insights Report<\/em><\/a> from Mynd<\/em> says there\u2019s a portion of millennial and Gen Z buyers who are pursuing homeownership as a way to build their wealth, but it may not be exactly the way previous generations have done it. The study explains how they\u2019re breaking into<\/a> the market:<\/span><\/p>\n

\n

\u201c. . . younger generations of Americans are not buying into that dream in the same way that older generations have. A growing number of Americans are choosing to make their first real estate purchase as an investment property.\u201d <\/strong><\/em><\/p>\n<\/blockquote>\n

Instead of buying a home and moving into it themselves, some young buyers are purchasing a home so they can use it as a rental. This tactic may be gaining popularity, at least in part, because of the affordability challenges brought about by today\u2019s higher mortgage rates<\/a>. The report above mentions how many people in this group are considering this approach. It says<\/a>:<\/p>\n

\n

\u201cAlmost half of Millennials and Gen Z (43%) are considering buying an investment property compared to only 9% of Baby Boomers and 27% of Gen X.\u201d<\/em><\/p>\n<\/blockquote>\n

Why Younger Buyers Are Buying a Home To Use as a Rental<\/strong><\/h4>\n

This strategy allows buyers to continue living in their current location, like the bustle of a city apartment or a neighborhood that they know and love, where they couldn\u2019t afford to buy. But instead of giving up on the idea of owning a home, they buy a home in a more affordable area with the intention of renting it out.<\/p>\n

In a way, they\u2019re getting the best of both worlds. They live where they want, and they still own a home where they can afford it.<\/strong><\/p>\n

Their goal is to generate passive income and diversify their assets. It works like this: in addition to having a rental stream of income, the equity they build<\/a> in their house will also help grow their net worth<\/a> over time.<\/p>\n

Bottom Line<\/strong><\/h3>\n

If you\u2019re thinking about buying a home as an investment strategy to build your wealth, let\u2019s connect to explore your options and nearby areas that may have homes that fit what you\u2019re looking for.<\/p>\n

Content previously posted on Keeping Current Matters<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

\"DoIt turns out, millennials aren\u2019t the renter generation after all. The 2022 Consumer Insights Report from Mynd says there\u2019s a portion of millennial and Gen Z buyers who are pursuing homeownership as a way to build their wealth, but it may not be exactly the way previous generations have done it. The study explains how [\u2026]<\/div>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"bgseo_title":"","bgseo_description":"","bgseo_robots_index":"","bgseo_robots_follow":"","footnotes":""},"categories":[3,123,88,84,135,124,89],"tags":[],"class_list":["post-8230","post","type-post","status-publish","format-standard","hentry","category-blog","category-demographics","category-first-time-home-buyers","category-for-buyers","category-gen-z","category-millennials","category-move-up-buyers"],"_links":{"self":[{"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=\/wp\/v2\/posts\/8230","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=8230"}],"version-history":[{"count":0,"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=\/wp\/v2\/posts\/8230\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8230"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8230"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8230"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}