New City, N.Y. (PRWEB) October 24, 2012
Better Homes and Gardens® Real Estate today released the results of a national survey of 18-35 year old Americans that reveal the impact of the housing crisis has given rise to two of the most knowledgeable generations to become homebuyers, Generations X and Y, which account for an estimated 103 million Americans.
“This study reinforces our first-hand experience that Gen X and Y in New York and New Jersey are fully embracing homeownership,” said Matt Rand, managing partner, Better Homes and Gardens Rand Realty. “Every day, our agents work with New York and New Jersey homebuyers who are proactive, responsible and informed consumers. Better Homes and Gardens Real Estate Better Homes and Gardens Rand Realty recognize that the members of Gen X and Y are using all of the data, information and resources available to them to empower their path to home ownership, and making key decisions along the way to ensure their experiences are successful.”
According to the results of the national survey, more than three-quarters (77 percent) of those Gen X and Y Americans surveyed believe that they have become increasingly knowledgeable about homeownership due to media coverage that has magnified the real estate industry throughout the past six years. Findings show these generations of potential homebuyers are not deterred from home buying and believe owning a home is a key indicator of success (75 percent). Furthermore, they are willing to do their research and save in ways that may surprise those who believe the values of Gen X and Y have strayed from those of their parents, including taking a second job and moving in with mom and dad.
Key findings from the Better Homes and Gardens Real Estate survey include:
- Not the “Me” Generation. The majority of this population (71 percent) understands that homeownership is not something they deserve; rather it is something they must earn. Nearly all those surveyed are willing to adjust their lifestyle to save for a home by eating out less (62 percent), working a second job (40 percent) or even moving back home with their parents (23 percent).
- In the Know. Sixty-nine percent think the recent housing downturn has made them more knowledgeable about homeownership than their parents were at their age. They appear to be doing their homework before making one of the biggest investments of their lives. For those surveyed, interest rates (58 percent), home prices in a desired neighborhood (59 percent), and the ability to secure a loan (51 percent) are the top areas to research before buying.
- Homeownership is the New Bling. Gen X and Y are not blinded by flashy signs of success; 75 percent believe owning a nice home is a fundamental indicator of success over taking extravagant vacations (12 percent), owning an expensive car (9 percent), or owning designer clothing (5 percent).
To learn more about Better Homes and Gardens Rand Realty, as well as the homeownership survey, visit http://www.RandRealty.com.
About the Survey: The Better Homes and Gardens Real Estate Survey was conducted by Wakefield Research (http://www.wakefieldresearch.com) among 1,001 nationally representative Americans, ages 18 to 35, between July 18, 2012 and July 26, 2012, using an email invitation and an online survey. Quotas have been set to ensure reliable and accurate representation of the U.S. population ages 18 to 35.
Results of any sample are subject to sampling variation. The magnitude of the variation is measurable and is affected by the number of interviews and the level of the percentages expressing the results. For the interviews conducted in this particular study, the chances are 95 in 100 that a survey result does not vary, plus or minus, by more than 3.1 percentage points from the result that would be obtained if interviews had been conducted with all persons in the universe represented by the sample.
About Better Homes and Gardens Rand Realty: Founded in 1984, BHG Rand Realty is the No. 1 real estate brokerage in the Greater Hudson Valley with 24 offices serving Westchester, Rockland, Orange, and Putnam counties in New York as well as Bergen and Passaic counties in New Jersey. Rand has more than 800 sales associates, a commercial real estate company (Rand Commercial Services), and affiliates in the mortgage, title and insurance industries (Hudson United Home Services). The company’s Web sites are: http://www.randrealty.com, http://www.randcommercial.com and http://www.hudsonunited.com.