Real Estate Tips: Get to Know Generation Y

Back in April, we posted a blog titled, “Younger Generation Predicted to Turn Real Estate Market Around”. We focused primarily on the young families and adults that made up Generation X (32-45 year olds). New research is also putting a lot of emphasis on Generation Y (15-32 year olds). The statistics suggest they will be a strong driving force for the next ten years!


Why is this group different from their older peers? The group is about equal to the baby boomer generation, about 77.4 million individuals. By sheer size alone, they are a significant percentage of the buying market. They make up over 25% of home buying age. They tend to be highly educated; more than 60 percent of them go to college. As more of this generation joins the work force there is going to be a “massive increase in housing demands”, according to University of Southern California Lusk Center for Real Estate.

Below is a list of what you need to know about this group in order to market to them:

Importance of Technology

This generation has always had access to computers. They are very comfortable with new and innovative technology and use it to the best of its abilities. This means they are doing research on real estate! Whether it’s pricing what they want or finding out how the market is doing. You need to know what they already do. Social Media and web surfing are daily habits on their end, they expect answers fast. They want to know that turning to you as an expert that you are listening to their questions and answering them. Embrace technology to locate generation Y buyers and keep connected.

Understanding their Schedules and Priorities

This generation is also very cautious. They have grown up in a time of uncertain markets. They are savvy buyers. They are highly educated, and research most major purchases. They are having trouble getting jobs or are afraid of cutbacks at their jobs. This comes into play with their spending habits. However, this does not discourage spending, it just creates priorities. Generation Y is already purchasing property younger than the generation before them. The average first home purchase is 26 years old (Generation X is 28). Understand what has shaped their thinking and appeal to it, don’t fight it.

Lifestyle is Key

These individuals are strongly influenced by their lifestyle. They like urban living where they can walk and ride bicycles to get where they want to go. Generation Y is getting married and having kids later. They view real estate as short-lived investment before their next stage. Most important features are convenience to where they want to go, shopping, restaurants, and amenities. Most of this generation also prefers low-hassle or maintenance free living. This means they don’t want a large yard to mow on their own. Entertaining and open spaces to accommodate guest is high on their want list. Also, useable outdoor living space highly appears to their outdoor nature. Find out what your buyers want and market it highlighting these key features.

If you have any questions or would like to talk to a real estate professional, contact SI Real Estate at 813.631.5144 or yourhome@sirealestateinvestments.com. We know how to set up for the next wave of clients. Also, if you are looking to join a real estate firm that is changing with the market, contact us for current agent positions.

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Real Estate Trends: Homebuyers Make Lifestyle Priority

The real estate saying, “location, location, location” might not hold as much weight to this generations buyers. According to Realty Times, lifestyle options including health, safety, and nearby activities may be a leading factor in home buying selection.

A recent survey conducted by Better Homes and Gardens Real Estate LLC and the Meredith Corporation reveal that homebuyers prefer these traits in their community:

1. Ease of commuting by car: 38%

2. Access to health and safety services: 34%

3. Family-friendly neighborhood: 33%

4. Availability of retail stores: 32%

5. Access to cultural activities: 21%

6. Public transportation access: 19%

7. Nightlife and restaurant access: 18%

8. Golf-friendly area–access to golf courses: 6%

If the community a buyer is currently living in doesn’t meet these desires, 1 in 5 homeowners have moved or would like to move to better fit their lifestyle. This data lets you as a seller know how to market your property to the way home buyers think and what they want. Showcase your home and describe how closely it meets the listed criteria.

If you are looking to sell or enjoy getting more real estate tips and trends to help you understand the current market, contact SI Real Estate at 813.631.5144 or email us at Yourhome@sirealestateinvestmetnts.com.

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Real Estate Tips: Buyers Agent for New Construction

Buying a new home can be very exciting, it is important that still being a savvy buyer while getting what you want in your new home. One of the most overlooked factors in a new home purchase is buyer representation. Although many builders are great and have great new homes sales consultants, as a buyer you need to have your own personal advocate and representative! Before viewing new construction homes and reviewing options, it is prudent to speak to a local agent who is familiar with the process and the area.

The prime example of real estate buyers seeking to go it alone is on new construction. Builders make it so convenient and easy to walk into a new community and get set up for your new home. Why would anyone consider having a buyer’s agent with them when viewing new construction? The following represent a few examples of your benefits:

Free Representation

The most important factor for any buyer having a designated agent is representation. This professional is your expert in the marketplace working to help you achieve your goals with having your best interest at heart. For most buyers this is completely free to you. Builders, all sellers, designate a commission right into their sales price; they do not negotiate that price down for new buyers who do not have a buyer’s agent. Would it bring you more comfort having someone in your corner at showings, contract negotiations, incentives from seller to buyer, final walk-thru and closing? I think so! Please be a savvy buyer and contact a buyer’s agent who is familiar with the area and procedures of new construction.

Increased Negotiation

The base price on newly constructed home is one the builders are not going to negotiate on, however most builders are willing to make some upgrades or changes to suit the new homeowner. Here at SI Real Estate our experience has shown us that you can get more by having an experienced agent at your side:

Our of our agents, Katie Crider, was able to negotiate all new flooring on a move-in ready home. They actually pulled up already installed carpet and laid down tile throughout the floor. Another client had all new fans and light fixtures added for no additional cost.

The key is having an agent familiar with what a builder is willing to negotiate on and have them negotiate the contract with you. Our Broker, Nibal Elsaadi, also has had great success with new construction lately. Buyers want to have modern and guaranteed homes. You cannot beat walking into a new home and giving the client exactly what they are looking for. Nibal was able to get one client over $22,000 worth of upgrades for just cost to the builder. It is also very common that he negotiates in closing costs, HOA fees for the first six months, or full appliance packages.

If you are exploring the idea of purchasing any home, again you should have a buyer’s agent! If you are looking to start looking into whether you can afford to purchase a home or have already been prequalified, please contact one of our agents at SI Real Estate. We can be reached at 813.631.5144 or email us at Yourhome@sirealestateinvestments.com. We understand the importance of integrity, hard work, and maintaining clients’ satisfaction.

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