Tina McManus | Beverly Real Estate, Salem Real Estate, Hamilton Real Estate, Danvers Real Estate


Some of the reasons why the young ones are not buying a home are the high student debt, affordability among others. We are going to discuss the primary reasons why young people are not buying a house in this article. Here we go:

Affordability 

One of the main reasons why millennials are not into real estate investment is a substantial financial implication. The home affordability for first-time buyers decreased to about 92.5 in 2018 according to NAR – National Association of Realtors. The index was 109.3 in the year 2015. A value of 100 shows that a family has what it takes to qualify for a median-priced home. 

High level of student debt

Another reason why many young people could not afford a home is the high level of student debt. In the United States, student debt reached $1.5 trillion, and it is one of the factors that are hindering young people from investing in real estate. Apart from high student debt, they also have to deal with meager wages. The NAR report explained that more than half of the homebuyers who are below the age of thirty-eight that student debt is one of the significant factors that delayed their home buying. Apartment list shows that graduate that does not incur student debt will save for 7.6 years at 20% down payment to get home while those with debt will have to save money for more than 11.6 years.

Tighter Lending 

If you are wondering why young people cannot afford a home, one of the reasons is stricter lending conditions. Financial institutions have tightened credit underwriting to minimize risk. The rise of house prices does not favor the young ones who are planning to buy a home. They will have to accumulate enough cash over a long period to enable them to afford a house. The Bank of America noted that those within the age of 25 to 35 years commenced their career at the time of financial crises when the labor market and economy were recovering.

Not Married Yet 

The delay before getting married and having children means that young people are not considering getting a home sooner. The CDC (Center for Disease Control) reports that the mean age of a first-time mother is now 26.6. They discovered these findings in 2016; they added that the average age might increase when we consider the women in urban areas as well as college-educated women. According to the Census Bureau, getting married and having children are life events that trigger buying a home.

As a young person looking to buy a home, you should speak to a financial advisor and a reputable real estate agent to plan towards owning your own home.


As a home seller, it is crucial to do everything possible to get your residence "buyer-ready." In fact, if your house dazzles a buyer, you may be better equipped than ever before to optimize your home sale earnings.

Ultimately, it can be quick and easy to get a house buyer-ready – here are three tips to help you prepare your residence for prospective buyers:

1. Bolster Your House's Curb Appeal

When a potential buyer goes past your home, you'll want your residence to make a great first impression. And if your residence has outstanding curb appeal, a prospective buyer may choose to set up a property showing right away.

To improve your house's curb appeal, you should mow the front lawn, trim the hedges and do whatever it takes to make your residence attractive to potential buyers. Of course, if you need extra help to bolster your home's curb appeal, you may want to employ professional contractors as well.

2. Remove Clutter

Antiques, paintings and other décor may help you transform your house into a home. However, these items may do more harm than good when you try to show your residence to prospective buyers. And in some instances, various personal belongings may make it tough for you to show off the true size and beauty of your residence.

It generally is a good idea to remove as much clutter as you can from your residence. Remember, your goal as a home seller is to make it simple for a buyer to envision what life may be like if he or she purchases your house. If you eliminate clutter from your residence, a buyer should have no trouble imagining what life may be like as the owner of your home.

3. Clean Each Room of Your Home

A neat, tidy home is sure to impress prospective buyers. Thus, if you allocate time and resources to clean each room of your house, you could boost the likelihood of a fast, profitable home sale.

Oftentimes, it helps to hire a professional home cleaning company. With this company at your disposal, you can get the help you need to improve the appearance of each room of your home.

As you get ready to add your house to the real estate market, you also may want to hire a real estate agent. This housing market professional is happy to help you get your house buyer-ready, as well as prepare for each stage of the property selling cycle.

A real estate agent will offer expert guidance throughout the home selling journey. He or she will provide recommendations and tips to help you showcase your residence to the right groups of prospective buyers. In addition, if you ever have concerns or questions during the home selling journey, a real estate agent is ready to address them.

Get your house buyer-ready – use the aforementioned tips, and you can improve your home's appearance and increase your chances of enjoying a seamless property selling experience.


For those who want to buy a house, it helps to consider your options closely. That way, you can make an informed home purchase.

Now, let's take a look at three factors to consider as you prepare to conduct a home search:

1. The Local Housing Market

Assess the local housing market before you dive headfirst into a home search – you will be glad you did. If you analyze the housing market in towns and cities where you want to live, you can determine if a buyer's or seller's market is in place. Then, you can map out your homebuying journey accordingly.

To differentiate a buyer's market from a seller's market, you should find out how long recently sold houses were available before they were purchased. You also may want to track houses as soon as they become available and see how long it takes them to sell. If residences linger on the housing market for many weeks or months, the real estate sector likely favors buyers. Or, if houses are purchased shortly after they become available, the real estate sector may favor sellers.

2. Your Home Must-Haves

Think about the features you want to find in your dream house. This will help you hone your house search to residences that match your expectations.

Oftentimes, it helps to enter the housing market with a list of home must-haves. This list can be updated throughout your house search and may help you simplify your quest to find your dream residence.

As you craft a list of home must-haves, be sure to include any house amenities you simply cannot live without. For instance, if you require a home that boasts a state-of-the-art air-conditioning system, you can search for a residence that offers this amenity. On the other hand, if you need a home that is located just minutes from your office in the city, you can search for a house in or near the city itself.

3. Your Homebuying Budget

You may have only a finite amount of money to spend on a house. If you get pre-approved for a mortgage, you will know precisely how much money is at your disposal. You then can search for a house that corresponds to your budget.

To get pre-approved for a mortgage, you should meet with a variety of banks and credit unions. These financial institutions can teach you about your home financing options and help you select a mortgage that suits you perfectly.

Lastly, as you get set to embark on a house search, you may want to hire a real estate agent. This housing market professional can offer expert insights into the homebuying journey. Plus, he or she is ready to respond to your homebuying concerns, at any time.

If you want to streamline the process of finding and buying a wonderful residence, it helps to plan ahead for the homebuying journey. Thanks to the aforementioned tips, you can review your options and boost the likelihood of enjoying a successful homebuying experience.


First things first, if you are just in love with modern bathroom or kitchen features, they are worth it for you. It's always worth it to create a space that you love. Now, if you want that new kitchen or bathroom to add value to your property, increase its marketability or its future resale value, its time for the research because not all upgrades are made equal and there may be a better way to spend that renovation money.

Upgrades that Add Value

The most straightforward way to increase the value of your home is to add usable square footage. That means more living space to use. You can add this space by finishing out a basement or attic, and by adding another bedroom or bathroom to the home. Extra space goes a long way to increase your properties market value. As many buyers consider homes by bedroom and bathroom count, adding just one more can change the category in which your home resides. A three-bedroom, three-bathroom house sounds larger and sells for more than that same home when it was just three-bedroom, two-bathroom house.

You can also increase your home's value with small upgrades. You can get the best bang for your buck with—you'll never guess—a new front door. Nearly 100% of the cost of the door adds to your home's value. Now, that won't work with just any front door, talk to your contractor or real estate agent about the best style for your property. You need a door that will enhance your entryway and not look like an afterthought to get that instant dash of curb appeal. 

You can also get substantial value from minor repair upgrades such as new windows or replacing discolored vinyl siding. These minor upgrades work like a new paint job and can increase the value of the home and the curb appeal at a much lower cost than a full kitchen or bath remodel.

Still, want that kitchen upgrade? Minor kitchen upgrades can have high returns of their own. You don't have to completely gut the entire thing; just new cabinet doors and fixtures make a huge difference. You can finalize it with classy new appliances and get yourself an 80% return on your new kitchen investment.

Upgrades That Aren’t Worth It

Pay attention to the cost of your remodel compared to the overall value of your home. Spending 50% or more of your equity on your kitchen remodel just isn't going to work well. A $100,000 remodel on a $250,000 property won't add nearly that in additional value to your home. So, if you want to sell your property for $350,000 instead, this isn't the plan for you. Nothing says you can't get plenty of enjoyment out of the kitchen upgrade, just don't plan on selling it for as much as you paid and focus on getting the kitchen you really want.

Similarly, while a pool sounds like a fabulous investment, they are usually much more expensive than they are worth and only really increase home value in specific locations, mostly those without colder winter weather. If your area has even a bit of winter, the pool will take a lot of extra care and can actually decrease the interest in your property.

Talk to your real estate professional about the best upgrades to increase your property’s value in the current market.


When considering becoming a homeowner, one of the decisions you can make that will be beneficial to you is to deposit a down payment. However, the question is how do save up that hefty down payment?

One of the biggest roadblocks for prospective home buyers is securing a down payment. Fortunately, though, technology seems to be playing a huge factor in shrinking the burden of down payment. The whole saving process has become quite a bit less rigorous.

Below is a list of how you can overcome the down payment hurdle and ensure you have enough money when it’s time for you to buy.

Save A Fixed Amount Every Month

Saving a fixed amount is the simplest and most convenient way to save money. Open a savings account and discipline yourself to pay in a certain sum into the account every month. Discipline yourself not to use the money for any other purpose aside for your down payment.

Reduce Expenses

Save a lot more than you spend, review your expenses and cut down on items that are not necessary. Whatever money generated as a result of this should be added to your down payment account.

Skip Vacations for A Year

I know going for a vacation during the year is something you are looking forward to and you have it all planned out. However, if you are looking to save up enough money for your down payment, then you should consider scrapping out vacation until you have enough money for your down payment.

Reduce Your Debt

Having a credit card with a high interest rate can limit your ability to save. Pay off your interest debt starting with the highest; after that, you can close off that card while you proceed to pay off the next.

Borrow from Your Retirement Plan

You can ask human resources or your payroll officer if it’s possible to borrow against your savings to buy a home. Many profit sharing setups make provisions for employees to loan a certain amount from their retirement plan to become a homeowner.

Borrow from A Relative

When it comes to getting a home of your own, most family members and relatives would be willing to help; they can grant you loans without interest, gifts and other non-monetary items that will help you in your down payment quest.

Get Another Source of Income

Getting a second job would mean you would probably be working round the clock, but in the long run, it would pay off. Getting another job means another source of income and more money to save into your down payment accounting.




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