Millennial buyers opt for new in the Prescott AZ real estate market

Many Millennial home buyers are gravitating to new home construction, especially in the Prescott AZ real estate market. Although some Millennials in their 20s and early 30s financially struggled with under-employment and student loan debt during the Great Recession, they are ready to become first-time home buyers.

Unlike some generations, Millennials aren’t afraid to ask their parents or grandparents for help. According to a recent Trulia study cited by one Wall Street Journal article, half of home buyers in that age group plan to ask their parents for a down payment. Many of them won’t have to settle for resale homes.

  • Choose semi-custom

When sifting through the many properties for sale in the Prescott AZ real estate market, it’s wise for first-time home buyers to check out the semi-custom home plans. Semi-custom homes are often reasonably and competitively priced. Millennials grew up in an era of “choice,” which is why semi-custom is the answer. You can choose your finish options including faucets, fixtures and appliances.

  • Grow with the home

When Millennials buy new, they can grow with the home. They can change a guest bedroom into a home office and later a baby nursery as life changes. Also, people who live in new construction homes often have lower utility bills due to modern advances in energy efficiency.

  • Imagine your life

Another reason Millennials are opting for new construction in Prescott, Arizona, is because they can experience the thrill of being the first to live in a luxurious home. By touring home models, you can get a better vision of what your life will be like. Think about whether you want a built-in computer room, entertaining space or outdoor amenities. Write down how you envision your life now, 5 years from now and 10 years down the road to choose the best home model.

For information and help with building the semi-custom home of your dreams, contact us.

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