Key takeaways
- As we continue navigating a global pandemic, many millennials are leaving cities for more suburban locales.
- More space, lower prices, and increased safety have drawn first-time buyers into communities like the Catskills.
- Thinking about buying your first home? The Catskills Dream Team can offer the guidance you need to succeed in today’s market.
3 Reasons Why First-Time Buyers Are Flocking to the Suburbs
COVID-19 has changed our lives in more ways that one, and we’ve seen quite a few dramatic shifts in our local real estate market. For years, millennials preferred the perks of city life—but as they reach prime home-buying years in the height of a pandemic, their priorities have changed.
Want to know why more and more first-time buyers are choosing the Catskills? Here are just a few of the most common reasons.
Increased flexibility
For years, entertainment, educational, and employment opportunities have drawn millennials to larger cities. However, the onset of COVID-19 has caused many of these perks to disappear, leaving many first-time buyers to reconsider their living situation.
As more and more jobs become permanently remote, millennials are finally taking advantage of their newfound flexibility. And while we continue to see a mass exodus from metropolitan hubs, suburban and rural regions like the Catskills are now more popular than ever before.
More open space
In a recent study by Quicken Loans, 46% of respondents wanted to move out of the city for additional space—and that’s just one of the many reasons why millennial buyers have fallen for the Catskills. Here, you’ll find miles upon miles of wide-open space, as well as larger homes with acreage.
Living in a more remote community also comes with a variety of safety benefits, especially during a global pandemic. If you want to avoid crowded subways, small apartments, and cramped streets, the Catskills is the perfect place to social distance!
Affordable prices
It’s no secret that city-living comes with a pretty hefty price tag. And as we continue navigating the economic uncertainty that comes with a pandemic, millennial buyers are eager to save money wherever they can.
The average home price in Delaware County is just $160,000—that’s $110,000 less than the national average! This makes the Catskills particularly attractive for first-timers, as they may not be able to afford homes in their current area. To top it all off, the Catskills also has a staggeringly low cost of living compared to other regions.
Relocating? Consider the Catskills!
Thinking about buying your first home in the Catskills? We’d love to help! Contact the Catskill Dream Team for all of your home-buying needs. We have plenty of resources—including a handy search tool—to guide you in the right direction. Have questions? We’re only a phone call away.