Suburban Renewal: Interest Grows Among Younger, First-Time Buyers

Millennials and young Gen X’ers are flocking to bigger cities to be close to the action. But with the rising cost of city living, they’re being forced to either pay a premium for rent or find affordable housing outside of the city.

These first-time homebuyers aren’t just migrating to any suburb. They’re looking for amenity-rich suburbs that have more of an urban feel with restaurants, nightspots, entertainment, stores and public transportation – all within walking or biking distance.  (I.E. San Carlos!)

They aren’t interested in sinking every hard-earned penny into their house. They prefer smaller, more modest single-family homes and want to allow room in their budget for other things they find important, like travel. And the suburbs are just the place for them to find this.

A shorter commute between home and work is also very important, and contrary to what many may think, the suburbs represent a major share of the jobs base. In fact, in the top 40 metro areas, 84% of all jobs are outside of the center-city core.

Plus, suburbs also typically offer better quality school systems and a safer setting than major metropolitan cities, making them even more ideal for younger families.

To capitalize on this increased demand and make themselves even more appealing, many suburbs will be investing more in their downtown commerce areas and expanding their public transportation offerings.

So, next time you work with younger first-time homebuyers, try to keep these things in mind. Are there amenity-rich suburbs near you that could be ideal locations for them? Are these suburbs close to your clients’ work? Do they offer great school systems and affordable housing? Get back to the burbs and you could get back more happy younger clients.

I know just the towns – Call the Caton Team for all your Real Estate needs!

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Thanks for reading – Sabrina

The Caton Team – Susan & Sabrina – A Family of Realtors

Berkshire Hathaway HomeServices – Drysdale Properties

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The Caton Team - Realtors

Sabrina & Susan are native Californians - born and raised in the Silicon Valley with a passion for Residential Real Estate. A mother and daughter-in-law duo called - The Caton Team. With over 35 years of combined, local Real Estate experience and knowledge – would’t you like The Caton Team to represent you? Let us know how we can be of service. Contact us any time. Call | Text at: 650-799-4333 | Email The Caton Team believes, in order to be successful in the San Fransisco | Peninsula | Bay Area | Silicon Valley Real Estate Market we have to think and act differently. We do this by positioning our clients in the strongest light, representing them with the utmost integrity, while strategically maneuvering through negotiations and contracts. Together we make dreams come true. The Peninsula is our backyard - let us help make it yours. We represent Buyer’s and Seller’s throughout the Bay Area. The Caton Team – Susan & Sabrina A Family of Realtors Effective. Efficient. Responsive. What can we do for you?

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