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Down Payments and Today’s Generational Home Buyer!

Woman considering her options for buying a home

“If I were asked to name the chief benefit of the house, I should say: The house shelters day dreams; the house protects the dreamers; the house allows one to dream in peace” – Gaston Bachelard

Each generation, whether Baby-Boomers or “Zoomers” (Gen Z) have unique characteristics when it comes to making financial decision and purchasing homes. The Millennials (Gen Y) have been well studied as to their buying habits. In this episode I review some recent information that has come out relating to the differences in the generations and how it affects their down payment attitudes and needs.

In addition, recently the Illinois Housing Development Authority (IHDA) made some changes to their down payment assistance program. Although these changes only affects buyers in Illinois, other states may have also updated some programs as of the first of the year.

My podcast, Real Estate Professionals Smoking Cigars, is designed with Realtors, Attorneys and other professionals in mind. Of course, homebuyers too can benefit from the content as well so take a moment and listen into one of our episodes.

You can listen to this episode of our podcast by searching for us on your favorite podcast player or by listening on anchor.fm.

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Downpayment, IHDA, Purchase