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V O L . X X X N O. X V I J U LY 2 2 , 2 0 2 4 20 R E A L E S TAT E / C O N S T R U C T I O N / E N G I N E E R I N G OK Zoomer When it comes to today's young adults, Tom Landry of Benchmark Real Estate in Portland is seeing two emerging categories, one being fresh college graduates frustrated by the high cost of rentals coupled with student loans but not yet in a position to buy. e second group, he says, is "get- ting a little bit creative and tapping into different ways of getting money." Some are getting loans from their parents as a business arrangement rather than a "freebie," while others are living at home with their parents lon- ger to save money until they can afford to make a purchase. "In the past that would have viewed as 'failure to launch,'" he says, "but sometimes you have to do these things to get ahead." Landry says he also notices a lot of adventurous young buyers going for less pricey, fixer-upper houses of retro, antique or even mid-century vintage. "It's not necessarily the 'Brady Bunch,' but it's like, 'Wow, man, that's kind of kitschy and cool,'" he says. Landry's advice to aspiring owners: "Don't wait. All you need is 5% down and sometimes 10%. If you wait until you can put 20% down, you could be paying another five years of rent, and think of all that money. Get in front of a lender and let's start the process." inking back to her first home purchase in the mid-1990s, Dava Davin says she was single and had two jobs at the time. She bought a duplex, renting out the "nice" side and living on the other, long before she went into real estate. Today, the founder and principal at Portside Real Estate Group says that young people who want to buy a house will always "figure it out," even in a competitive market. "Prices and interest rates are outpricing many young people certainly in southern Maine," she says. "e good news is we're seeing them to expand their searches up to Androscoggin and Kennebec coun- ties, and into other areas." On a practical note, Davin sug- gests that aspiring buyers cut down on expenses, especially since it's so easy to spend money "at the click of a but- ton," and to "stop going to Starbucks every day." at's not the only distinguish- ing factor about some of her young- est clients. ey include a couple in their 20s who bought a house having » C O N T I N U E D F RO M P R E V I O U S PA G E C O U N S E L O R S A T L A W r u d m a n w i n c h e l l . c o m BANGOR 84 Harlow St. (207) 947.4501 ELLSWORTH 140 High St. (207) 374.5833 At Rudman Winchell, we specialize in providing legal solutions for property owners, buyers, sellers, and commercial entities. Our expert attorneys provide strategic counsel to navigate the complexities of your legal matters, ensuring every transaction is seamless and sound. Your Trusted Legal Advisors, Rooted in Maine Guiding your Real Estate and Business Success Step into a legal journey where Maine's authenticity meets top-notch expertise. F I L E P H O T O / T I M G R E E N WAY F O C U S Prices and interest rates are outpricing many certainly in southern Maine. The good news is we're seeing them expand their searches up to Androscoggin and Kennebec counties, and into other areas. — Dava Davin Portside Real Estate Group Dava Davin, founder and principal at Portside Real Estate Group

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