Millennials (now the largest population group in the US) are currently between the ages of 26 and 41 – historically, the age at which many have made the ceremonial transition to “adulthood” via homeownership.
However, between the pandemic, inflation, and the wildest housing market in years, this generation hasn’t seen the most ideal conditions for purchasing their first home.
And so, we meet the Unmortgaged Millennials — or members of this generation who have never owned a home.
Opendoor asked in their new report, “What would the unmortgaged millennial do to own a home right now… and what’s holding them back?”
Millennial homeownership by the numbers
47% of unmortgaged millennials say they would delay vacations for five years if it meant they could buy a home, and 41% would even delay a wedding for five years. 🏡
44% would say goodbye to their morning coffee runs if it meant they could buy a home —and 35% would miss out on their favorite shows and eliminate all TV.
And you can forget Hinge + Tinder — of those surveyed, two-thirds use real estate apps and a majority browse homes online. Unmortgaged millennials are home-search obsessed, and would rather swipe through interiors of homes than swipe right (or left…) on romantic prospects. 🤳
Knowing how motivated homebuyers are, we dug into Opendoor’s Raleigh listings to round up 3 different homes that $360K can buy you in RAL.
2 BD, 2.5 BA | $330,000 | Discover a bright interior with a fireplace, neutral color palette, and well-placed windows in this stunning home.
2 BD, 2 BA | $319,000 | This quaint home would be perfect for a young couple, with bedrooms offering plush carpet, sizable closets, and an open backyard.
3 BD, 2.5 BA | $542,000 | Boasting accented window shutters + a stand-out statement color door, this home is complete with a deck and fenced-in backyard — making this home perfect for hosting the next BBQ.
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