Gen Z covers people currently between the ages of 18 and 25—and while they’re just entering adulthood, many of them already have homeownership on their mind.
According to a recent survey from realtor.com, nearly half of Gen Z respondents (43 percent) said they hoped to buy a home at some point over the next five years. And the rest of their generation isn’t far behind—with another 44 percent planning to buy within five to ten years.
And where, exactly, do they plan to buy? According to the survey, the majority of Gen Z buyers (49 percent) are planning to settle in the suburbs. Close to a third of respondents reported planning to buy in urban areas—and 19 percent are planning to put down roots in a rural area, where they can get more space for their investment.
The Takeaway:
So, what does this mean for you? If you’re a part of Gen Z, now is a great time to start thinking about what you want from a home—and to start making plans of turning your dream of homeownership into a reality in the not-so-distant future.
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