Zillow wants to help millennials buy their first homes with Real - KCTV5

Zillow wants to help millennials buy their first homes with RealEstate.com

Updated:
© Digital Trends © Digital Trends


By 

Provided by

Becoming a homeowner may not be such a pipe dream after all, at least not with RealEstate.com in your back pocket. On May 2, online real estate marketplace Zillow announced the launch of a new tool aimed at millennials. Aptly named RealEstate.com, the site is heralded as a “new consumer real estate brand tailored to first-time home buyers,” which allows potential customers to search for homes based on critical criteria like monthly payment and down payment amounts.

While young home buyers may be interested in whether or not a building is pet friendly or how big a home’s master bedroom may be, the top concern is still budget, according to the 2016 Zillow Group Consumer Housing Trends Report. Be that as it may, Zillow’s study suggests that younger, more inexperienced home buyers are almost twice as likely to overspend than repeat buyers, putting them in sticky situations that could preclude the possibility of, well, becoming a repeat buyer.

But RealEstate.com hopes to solve that. The site gives interested parties an “All-In Monthly Price” for each and every home, also providing estimated expenses that could contribute to the overall monthly spend, including principal and interest, property taxes, homeowner’s insurance, HOA fees and utilities, and closing costs. Moreover, all this information can be seen in English, Spanish, or Chinese.

“RealEstate.com is designed to equip the next generation of home buyers to find a home that suits their needs and budget,” said Jeremy Wacksman, CMO at Zillow Group. “We know from our research that affordability is a huge driver for home buyers, and that first-time buyers are more likely to go over budget. By tailoring the home search experience on RealEstate.com around a home’s monthly cost, we hope to make the home buying experience less daunting and even more transparent for first-time buyers.”

Follow us: @digitaltrends on Twitter | DigitalTrends on Facebook

This article was originally posted on Digital Trends

Content provided by
INFORMATIONAL DISCLAIMER The information contained on or provided through this site is intended for general consumer understanding and education only and is not intended to be and is not a substitute for professional financial or accounting advice. Always seek the advice of your accountant or other qualified personal finance advisor for answers to any related questions you may have. Use of this site and any information contained on or provided through this site is at your own risk and any information contained on or provided through this site is provided on an "as is" basis without any representations or warranties.
Powered by Frankly
KCTV 5 News

Online Public File:
KCTV  KSMO

Powered by WorldNow CNN
All content © 2017, KCTV; Kansas City, MO. (A Meredith Corporation Station) . All Rights Reserved.
For more information on this site, please read our Privacy Policy, and Terms of Service, and Ad Choices.