Owning Real Estate in Chicago Still a Goal for Many 20-Somethings

November 06, 2012

20somethings purchase chicago new homesOne of the many homeowner misconceptions that is floating around post-recession is that the younger generation is not interested in owning real estate in Chicago. Yet, a recent survey conducted by Better Homes & Gardens shows that 18 to 35 year-olds are still interested in owning a home.

Sixty-two percent of survey respondents said they would eat out less in order to be able to afford a home. Forty percent of survey respondents said they would consider working a second job, and 23 percent said they would even move in with their parents so that they could save enough money to buy a home.

Currently, the average age of a first-time home buyer is 36. Younger buyers are increasingly more savvy when it comes to buying homes because of their familiarity with technology and the ability to use apps and mobile devices in order to find out the best real estate listings and mortgage information.

For many young homeowners, seeing the effects of the recession and the housing bubble burst has made them more conscious about how they spend their money. Survey respondents said that all the media coverage of the housing crisis taught them to be as informed as possible before purchasing a home.

About The Author

Read All Stories By Mitch Levinson

Mitch Levinson is the author of “Internet Marketing: The Key to Increased New Home Sales” published by BuilderBooks. He is an Internet marketing expert with expertise in search engine optimization, website development, email marketing, social media and CRM consulting services. He is known for creating effective programs that can be tracked through analytics to prove effectiveness and ROI. Mitch is founder and president of MLC New Home Marketing and MLC FlatFee Realty, as well as managing partner of mRELEVANCE, LLC, a Marketing, Communication, Interactive agency with offices in Chicago and Atlanta. He currently leads the Chicago team. A Multi-Million Dollar Sales Producer who earned an MBA in Computer Information Systems and eCommerce, he brings a unique perspective and experience to the field of real estate communications. Mitch combines the two interests in order to help home builders and developers gain a competitive advantage through the Internet and technology. When he isn’t behind a computer, he enjoys participating in sports and coaching his kids’ teams. Mitch resides in Arlington Heights, Ill., a northwest suburb of Chicago, with his family, which includes two rambunctious labs. Visit my Google+ profile.

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