A real estate agent coordinates the closing process by managing communication, deadlines, inspections, and paperwork across every party involved in the transaction. This coordination role is
Millennials: Do You Need a Home with More Space?
Dated: February 28 2022
Views: 172
Millennials: Do You Need a Home with More Space?
If you’re a millennial, homebuying might be top of mind for you. Your generation is the largest group of homebuyers in the market today and has been since 2014, according to the National Association of Realtors (NAR). And while other millennials are looking to buy for the first time, you may be one of the many who are now discovering you’ve outgrown your home.
If that’s the case, you’re not alone. The past two years brought about significant changes for many people, and today, homeowners are reevaluating what they truly need in a home. As a recent report from the Wall Street Journal states:
"They say the pandemic and the emergence of remote work accelerated millennial home-buying trends already under way. . . . Millennials who already owned homes traded up for more space."
So, if you’re working remotely now or simply have a growing need for additional space, it may be time to move. And even if you purchased your current home sometime over the last few years, you can still move into a different one that has the space and features you’re looking for. That’s because there’s a good chance you have more equity than you realize. As Diana Olick, Real Estate Correspondent for CNBC, notes:
“The stunning jump in home values over the course of the Covid-19 pandemic has given U.S. homeowners record amounts of housing wealth. . . . Even homeowners who weren’t listing their properties for sale were gaining equity. About 42% of homeowners were considered equity-rich at the end of last year, meaning their mortgages were half or less than half the value of their home.”
Growing equity can be the key you need to fuel your next move, especially if you’re looking to purchase a larger home. When you sell your current house, the equity that comes back to you in the sale can be used toward the down payment on your next home.
In other words, your purchasing power may be greater than you realize, making a move to a larger home a realistic option. That, plus your changing needs, might make moving now more desirable than ever.
Bottom Line
If you’re a millennial thinking about moving this year, you’re not alone. Let’s connect today to discuss the equity you have in your current home and the opportunities it can create.
Galdamez Group
We bring a wealth of knowledge on local communities, current market conditions, and the home buying and selling process. We strive to provide exceptional service every step of the way, so we can provi....
Latest Blog Posts
What Does Real Estate Seasonality Mean for Buyers?Real estate seasonality is defined as the predictable annual cycle of fluctuations in buyer demand, home inventory, and prices that repeat at
Reston Homeowners Association: 2026 Resident GuideThe Reston Homeowners Association is the primary community organization governing property standards, amenities, and neighborhood rules for most
Work With a Buyer Agent Effectively in 2026A buyer's agent is defined as a licensed real estate professional who represents the buyer's legal and financial interests throughout the entire purchase
Copyright© 2026 REIN Inc. Information Deemed Reliable But Not Guaranteed. The listings data displayed on this medium comes in part from the Real Estate Information Network Inc.(REIN) and has been authorized by participating listing Broker Members of REIN for display. REIN's listings are based upon Data submitted by its Broker Members, and REIN therefore makes no representation or warranty regarding the accuracy of the Data. All users of REIN's listings database should confirm the accuracy of
All or a portion of the multiple listing information is provided by the Central Virginia Regional Multiple Listing Service, LLC, from a copyrighted compilation of listings. All CVR MLS information provided is deemed reliable but is not guaranteed accurate. The compilation of listings and each individual listing are ©2026 Central Virginia Regional Multiple Listing Service, LLC. All rights reserved.
All MLS listings are © 2026 Central Virginia Regional Multiple Listing Service, LLC. All
© BRIGHT, All Rights Reserved
