Twenty years ago the first time home buying was somewhat different. Back then, the first goal was to find a partner and get married. Then, you had to find a home, and then, find time to have the kids that everyone expects you to have.
That was then, but what about now?
Then and Now/Now and Then: What Has Changed?
Twenty years, later, many of you are delaying the marriage thing. You are also choosing to delay having kids until you are more financially sound. Couples are facing greater challenges than becoming a first-time home buyer and settling down into marriage and kids.
Some couples are having to rent a place for the first few years, instead of buying like you might have wanted to.
Many of you are not so concerned about buying property anymore. Many of you are going a different path instead of the traditional first-time homebuyers route.
There was a recent poll that said that 15% of you who bought a home under the age of 30 are not married. Some of you do not even have a romantic partner. Those of you who feel bad about this, please do not. You have more in common with others your age than you think.
What Is the Greater Issue?
Most of you reported having a low-income level and trying to pay off student debt. The idea of buying a home with a mortgage is not going to sound enticing to those of you in that situation.
You can barely afford to pay rent. How are you going to find time to find a partner, get married, and then have those kids your parents are already pressuring you to have?
That is why most of you, according to many studies, prefer to share space with a friend, live with family, or find a small space to rent.
Okay, So What Is the Next Step?
Welcome to the age of non-traditional home-living. Twenty years ago, most parents faced the empty nest syndrome. That was then, and this is now. That goes to show you how much things have changed, including the economical, societal, and environmental climates.
Now, that the empty-nest syndrome has taken a backseat to more important issues, your parents are forced to make adjustments. Your parents might not be in such a hurry to force you out as they did twenty years ago.
The price of living keeps increasing. Your wages stay the same though. Do you ever notice how one side never adjusts to meet the other side’s demands?
Is this a trend that you need to adjust to for the next decade or more. We do not know.
The one thing you can be sure of is that evolution is constant. There is no way to predict what will happen for your first-time homebuyers in ten years. All you can be sure of is that the current economical and social climates are going to stick around for the indefinite future.
Your job is to evolve with and not against it.