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Kids These Days Buy The House, Not The Parents

Kids These Days Buy The House, Not The Parents
angry little kid

You would think that the domain of an average child in America consisted chiefly of begging and pleading for an allowance raise, begging and pleading to stay up past curfew and begging and pleading to get that awesome Power Ranger action figure from the toy store (I never got it, by the way #tear). But it is not so with the average child-laden family. No longer are the parents making the decision, although it isn’t exactly the children who decide (sorry to have deceived you on that one) but parents do tend to make most of their decisions about buying a house based off of considerations that only those with kids would have.

Harris Poll survey

If you have ever been around a parent with their toddler, then you are sure to already know that, at times, parents will do just about anything to get their kid to stop crying. It’s like a fire engine alarm blaring directly in your ear that will only shut with cookies. A Harris Poll survey commissioned by SunTrust Mortgage has found that, while only 55 percent of parents looking to buy a home say that they factored in their child’s opinion, a whopping 74 percent of millennials — nearly three-quarters! — reported that their child’s opinions were factored into the home-buying process.

It is also true of millennial renters who plan to buy in the future. The survey showed 83 percent of this demographic said that they factored in things such as proximity to a good school, close pool or a bedroom all their kid’s own.

What do kids want?

In the Harris Poll survey, the participants were asked what their children usually wanted from their new home. The biggest request, by far, was for children to have their own bedroom, with 57 percent of children asking for that amenity. Coming in second was a big backyard (34 percent) and third was close proximity to a park (25 percent). Other asks included proximity to their friends, and walking distance to school.

According to the survey, 72 percent of renters will purchase a house in the next two years. So, realtors better save the flattery of the parents and concentrate on winning the good favor of the parents’ children instead.

Takeaway

It’s amusing that kids are pulling the strings for parents when they decide to become homeowners. But, at the same time, is it really such an unexpected shock? Crying always works like a charm on parents. Children start crying, and the parents immediately capitulate. The kid gets the candy, the playdate, the Game Boy (I just dated myself), and now, it seems, they get the house of their choosing.

 

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