Boulder First Time Home Buyer

graphic from Shutterstock for use in Bob Gordon blogThe First Time Home Buyer tends to follow trends from generation to generation.  Way back when, following WW II, families were quick to move to the ‘burbs and find a starter home of around 900 square feet.  That was considered big back then. By the nineties, homes had doubled in size. In the early 2000’s, even bigger was even better, but then the economic downturn impacted real estate. So what are Boulder first time home buyers looking for in today’s market? Millennials represent the largest segment of first time home buyers and they want;

High quality neighborhoods

Millennials value friends above all else, so the community is very important to this group of buyers.

Tech Friendly Homes

Technology is more important than ever to first time home buyers. Gen X and Gen Y are wired. They have tablets and Smart phones. These buyers expect the same tech in their homes.

Short Commutes

Short commute. Let’s face it, everyone has to work, but life is about what you do when you are not working. Best to spend as little time as possible on the commute so you can have the most time to do the things you love.

Staying Within Budget

First time home buyers are focusing on budgets. Running up to the recession, home payments became a big part of the monthly budget. Today’s Millennials are much better at keeping their home payment a reasonable 30% or less of their monthly budget.

First Time Home Buyers Seek Green Energy Solutions

Energy efficiency is important for today’s first time home buyers. Newer appliances and energy audits are well perceived by today’s buyers. Solar power is very popular with first time home buyers looking to get off the grid and save money.  Smart technology ideas.

Qualifying For The Right Mortgage

The mortgage is an important concern. It isn’t as easy to qualify as it was for first time buyers parents, so the mortgage home loan can be a determining factor for buyers.  Learn more about credit scores.

Schools

Schools remain a constant for first time home buyers. See my post on school districts here. Boulder Valley School District is top rated in the State of Colorado!

Home For Awhile

The rule of thumb for today’s home buyers: staying as long as possible in their first home. Millennials are looking for homes that can last one and half decades – this is a dramatic shift from the recent past when home buyers were looking to move every three to seven years. MIllenials understand how important it is to stay in their first home.

Features – Tall Ceilings

Tall ceilings are popular with today’s first time home buyers. They open up living spaces and create a more enticing feeling to a home.

Features – Open Floor Plans

Open floor plans. In the seventies, there were lots of small rooms. In the nineties, builders were delivering skylights and cathedral ceilings. Today’s Gen Y first time home buyers are seeking open layouts to use as they want.  Houzz writes on the subject here.

 

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