You’ve probably heard all the negative comments –  Millennials are lazy, won’t work hard, expect instant gratification, and can’t cope with adversity. Well, when it comes to finances and technology, they can be a pretty savvy bunch.

The housing market can bear witness to that. Young adults aged 29 – 36 are the largest segment of new homeowners in the country. 36% of the homes sold in the U.S. over the past year were purchased by Millennials. Not too shabby for a bunch of supposedly lazy kids.

Developers say they are ramping up construction to cater to millennials with good jobs, who are ready to get away from rising rents they can’t control and settle down in a house with a locked-down mortgage payment.

Millennials are very tech savvy and their approach to buying a home is not the same as generations gone by. They make use of all the online tools at their fingertips and only work with a realtor when they need advice or help.

If you’re thinking about buying a house, take some tips from these smart Millennial home buyers:

Mortgage rates: This should be top of your list of items to research. Instead of asking a real estate agent, shop for rates online.  90% of Millennials use online resources to research homes and the mortgage process before they speak to a real estate agent, mortgage broker or lender. Once you’ve done your research, look for a real estate agent or mortgage broker who can give you a personalized concierge service when you need assistance.

Mortgage rates can fluctuate almost daily, so it makes sense to use online tools to verify your rate.   You also need to figure out all the costs you’ll incur when you purchase a home.  A mortgage calculator can help you do this.

Credit Score: Your credit score is a major factor in getting approved for a home loan. But don’t fret if your score isn’t perfect. According to new data, the average credit scores of Millennial home buyers ranged from 662 to upwards of 750, depending on the city.

Down Payment: This is one area where you will need a smart real estate agent. There are many options and a knowledgeable realtor can point you in the right direction. And all realtors are not created equal – you need to find one that knows all the possible options.

So if you are getting ready to buy a home, make use of the online tools and find an agent who understands how you like to work and is prepared to give you the concierge service you need.

Happy house hunting!

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