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Home and Garden
Buying your parents/in-laws’ house
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[QUOTE="XLCenterFan, post: 3871786, member: 8712"] Concerning what is being debated, since I believe one of my comments set it off. I can attest that most younger people do not want to live in the "typical suburban home and neighborhood," but most end up there eventually because of the limited options for anything else. Take me. I am 38. I bought my first home in August. Technically I am a millennial (one of the first years of that generation). Besides the fact that it took awhile to save a down payment, I could care less about homeownership...would have been content renting forever. We bought because my wife was in love with the idea. When looking for a home to buy, we realized how mismatched the housing stock in CT suburbs is for what people (us) actually want, especially young folks. I have friends who said the same. Younger people could care less about the "white picket fence American Dream." They would forgo a typical suburban home to have more money to spend and travel (or just pay debt/cost of living). As Boomers look to sell their homes, no one wants them. People are having fewer kids. People bounce around jobs. People have more college debt. I have 2 younger brothers and neither own a home. They prefer the ability to up and move, and they harp on the fact that homeownership, as presently available, takes up too much time, money and resources - large mortgage, lawn, taxes, and everything else that comes along with it. Many of my friends as well (aged 35-40) either don't own, or if they do, they own a home they aren't in love with and constantly mentioned how CT suburban/exurban homes are simply too large. There is a big gap between what people want and what is available, and people end up just buying something - not something they really like or love. New neighborhoods need to accommodate what people are growing to want. Walkability. Close stores and parks. Less maintenance. Less square feet. Affordability. This is what real estate was moving towards, however, the pandemic has really changed some of this. If I'm a 38 year old saying this, I can only imagine what 28 year olds are saying - but I don't know too many. Young people don't want to overspend on a place to sleep and eat. I would rather golf, beach, and travel more. Not mow a lawn, rake leaves, or do housework more. Or, worse yet - work as much as possible just to be able to afford to mow, rake, and sleep. [/QUOTE]
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Buying your parents/in-laws’ house
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