It turns out, millennials aren’t the renter generation after all. The 2022 Consumer Insights Report from Mynd says there’s a portion of millennial and Gen Z buyers who are pursuing homeownership as a way to build their wealth, but it may not be exactly the way previous generations have done it. The study explains how they’re breaking into the market:

“. . . younger generations of Americans are not buying into that dream in the same way that older generations have. A growing number of Americans are choosing to make their first real estate purchase as an investment property.”

Instead of buying a home and moving into it themselves, some young buyers are purchasing a home so they can use it as a rental. This tactic may be gaining popularity, at least in part, because of the affordability challenges brought about by today’s higher mortgage rates. The report above mentions how many people in this group are considering this approach. It says:

“Almost half of Millennials and Gen Z (43%) are considering buying an investment property compared to only 9% of Baby Boomers and 27% of Gen X.”

Why Younger Buyers Are Buying a Home To Use as a Rental

This strategy allows buyers to continue living in their current location, like the bustle of a city apartment or a neighborhood that they know and love, where they couldn’t afford to buy. But instead of giving up on the idea of owning a home, they buy a home in a more affordable area with the intention of renting it out.

In a way, they’re getting the best of both worlds. They live where they want, and they still own a home where they can afford it.

Their goal is to generate passive income and diversify their assets. It works like this: in addition to having a rental stream of income, the equity they build in their house will also help grow their net worth over time.

Bottom Line

If you’re thinking about buying a home as an investment strategy to build your wealth, let’s connect to explore your options and nearby areas that may have homes that fit what you’re looking for.

 

CREDIT: Keeping Current Matters, Inc.

Do You Believe Homeownership Is Out of Reach? Maybe It Doesn’t Have To Be.

The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Keeping Current Matters, Inc. does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Keeping Current Matters, Inc. will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.

Fall Classic - Apple Crisp

Nothing says "fall is here" quite like the smell of tender-baked apples filling your home. This simple and downright delicious apple crisp gives you all the flavor you could ever ask for in a dessert, and is as quick to make as it is to finish. The cherry on top? A generous topping of cream or vanilla ice cream.

Ingredients

4 medium tart cooking apples, sliced (4 cups)
3/4 cup packed brown sugar
1/2 cup Gold Medal™ all-purpose flour
1/2 cup quick-cooking or old-fashioned oats
1/3 cup butter, softened
3/4 teaspoon ground cinnamon
3/4 teaspoon ground nutmeg

Cream or Ice cream, if desired

Steps

1Heat oven to 375°F. Grease bottom and sides of 8-inch square pan with shortening.
2. Spread apples in pan. In medium bowl, stir remaining ingredients except cream until well mixed; sprinkle over apples.
3. Bake about 30 minutes or until topping is golden brown and apples are tender when pierced with a fork. Serve warm with cream.

Nutrition

320 Calories, 11g Total Fat, 2g Protein, 52g Total Carbohydrate, 36g Sugars

More About This Recipe

Apple crisp is the carefree, easy-breezy cousin of apple pie. There’s no dough to chill or roll out, but the end result is just the same—a warm and fruity fall dessert that puts a smile on everyone’s face. The sweet-and-crunchy apple crisp topping makes it one of the most popular desserts ever, especially when apples are in season. Look for locally or regionally grown apples for your crisp, and seek out varieties of firm, tart apples that hold their shape when baked. Some perennial crisp maker’s favorites include Braeburn, Bramley, Gala, Cortland, Empire, Granny Smith, McIntosh and Northern Spy. Try an apple crisp recipe for a potluck or weeknight dinner, and you’ll be thrilled not only by how easy it is to make, but by how many compliments you receive. And don’t forgot the ice cream—it’s the serving suggestion that elevates any apple crisp from good to great.

Credit: Betty Crocker