Millennials are flocking to Wisconsin

“There’s no place like home. There’s no place like home”

Not only is that phrase an iconic movie line, it’s a message we believe in at Knight Barry Title. That’s why we love closing real estate deals and are so passionate about protecting property rights. Another one of our passions is the state of Wisconsin. It has been our home for 165 years, and we truly believe it is one of the best states – along with our growing KBT brands in Florida, Michigan, and Minnesota.
Infographic about Wisconsin Fun Facts
Wisconsin’s capital, Madison, also popped up as one of the top destinations for millennial homeowners. According to the National Association of Realtors, 75% of the city’s recent movers have been millennials, and this isn’t expected to change any time soon. NAR isn’t the only one noticing this. Experian has continuously cited Wisconsin as one of the states with the lowest debtbalances per resident. Take a look at these three debt statistics: 
  • Wisconsin had the second lowest average amount of credit card debt in Q1 2019 at $4,810.
  • Wisconsin has the 10th lowest average auto debt, with an average auto debt of $16,773 in Q2 2019.
  • Wisconsin has the 14th lowest average mortgage debt, with Badger State residents enjoying a relatively low average mortgage debt of $142,993.
Given so many millennials are flocking to our state, the Knight Barry Title team wants to make sure we’re properly setting them up for success when it comes to buying a home. Here are two quick tips to share with young homebuyers, whether they’re in Madison, Milwaukee or somewhere else. (Did you know KBT has 46 offices across Wisconsin, all ready to serve you and your buyers/sellers.)
They don’t need 20% down.
Support them in buying homes by educating them on what they really need to purchase a home. Along with sharing the first-time buyer programs that are out there, let them know that some down payments can be as low as 3%. 
It’s never too early to start the homebuying conversation.
It’s easy for millennials to believe they won’t get approved to buy a home. Encourage them to actually talk to a lender to truly see where they stand financially. It’s better to have a road map than write off the idea completely.
When you’re ready to help your millennial customers into their dream homes, rely on Knight Barry Title – a company that prides itself on integrity, experience and innovation – to deliver the kind of service your customers of all ages will love. Together, we can make sure we’re helping our growing millennial population navigate homeownership as they come join us in Wisconsin!