Tom Spaniel

Preston Hollow Financial Services, Inc

  • Home
  • About
    • About Us
    • Privacy Policy
    • Recovery Fund
    • Terms of Use
  • Resources
    • First Time Home Buyer Tips
    • First Time Home Seller Tips
    • Closing Costs
    • Home Appraisal
    • Home Inspection
    • Loan Checklist
    • Loan Process
    • Loan Programs
    • Mortgage FAQ
    • Mortgage Glossary
  • Reviews
    • Google Reviews
    • Facebook Reviews
  • Services
  • Apply
  • Blog
  • Contact

Many Millennials Need More Space

May 5, 2022 by Tom Spaniel

Many Millennials Need More SpaceThere are many Millennials who are looking for a home, and many of them are getting ready to trade up for more space. If you think you need more space, you may have more buying power than you realize. The coronavirus pandemic has led to a lot of changes, and you might be able to use the equity in your home to purchase a bigger house with more features.

Why Millennials Are Looking For Bigger Homes

There are a few reasons why many Millennials are looking for bigger homes. First, the coronavirus pandemic forced many people to work from home. This meant that a lot of people, including Millennials, needed a home office. In some cases, this means looking for a home with an extra room. 

In addition, many Millennials have had children during the past few years. This means they need one or two extra bedrooms, and probably another bathroom. This means moving into a home that has more space. 

Millennials Can Use The Equity In Their Homes

A lot of Millennials are still cash-strapped by student loans, but they might have more buying power than they realize. Due to the skyrocketing home prices during the past few years, Millennials may have built up a lot of equity in their homes. They can tap into this equity by selling their current houses for a significant profit. Then, they can roll this profit into a bigger house with a home office, extra bedrooms, more bathrooms, and a variety of extra features. 

How To Choose A New Home

Many Millennials are ready to use their newfound purchasing power to purchase a bigger house, but it is important to find the right one. Just because the house has more space doesn’t necessarily mean it is laid out properly. The bedrooms have to be the right size, particularly if their children are going to have a lot of toys. The home office also needs to be in a location where people will not be distracted while working. Finally, it might be beneficial to find a home office that can be used for more than one purpose. Some Millennials may be getting ready to go back to a physical office in the near future, and it would be beneficial to have a home office that can be used for different things. 

 

Spread the Love!

Filed Under: Mortgage Tagged With: Housing Market, Millennials, Mortgage


Contact Tom


Loan Officer
Preston Hollow Financial Services, Inc
CALL (214) 802-9266

NMLS #228693
GET A RATE QUOTE  

Top Dallas Mortgage Brokers
Expertise.com

Reviews

Connect with Me!

Let’s Keep In Touch!

  • This field is for validation purposes and should be left unchanged.

Browse Articles by Category

Quick Links

  • Recovery Fund
  • Privacy Policy
  • Terms of Use
  • Contact
nmlsconsumeraccess.org
Equal Housing Lender

Our Location


13709 Braemar Dr
Farmers Branch, TX 75234

Copyright © 2023 · Powered by MySMARTblog