Online real estate marketplace Zillow just launched an online platform to help Millennials and first-time homebuyers manage their search.
RealEstate.com focuses on budget concerns and lets users search not only by total price, but also by monthly affordability, GeekWire reports. The website uses user budget criteria to help craft an “All-In Monthly Pricing” for each house, which includes mortgage payments, principal, interest and taxes to create a reasonable estimate of each home’s tentative total monthly expense.
The platform launched at a time when Millennials are emerging as a new, if somewhat late, class of homebuyers. While an unprecedented number of Millennials are still stuck in their childhood homes, experts said Millennials are finally starting to become homeowners, pushed forward largely by rising rents. But Millennial homebuyers are a different breed, and tend to prefer entry-level homes in high-density urban areas, which is exactly the demand Zillow’s new site wants to cater to.
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