By LISA SCONTRAS
Custom Publishing Group

Renters come up with all kinds of reasons why they can't buy a home — credit problems, a stack of bills to pay, no savings — all of which can be intimidating.

But today, young buyers are emerging on the homebuying scene in growing numbers armed with raw determination and a realistic approach.

According to Mary Edu, Realtor at Prudential Locations, there are two main qualities that separate 20-something buyers from terminal renters. They understand the value of real estate as a long-term investment and they don't mind starting small.

"The younger buyer doesn't mind starting out in a condo," says Edu. "They know it's just their first step into home ownership — they are open minded and very easy to work with. And they are willing to stay with what they can afford."

Edu, whose youngest client — a single woman — just purchased her first townhome at age 23, estimates homebuyers between the ages of 27 to 32 now make up the largest group of first-time homebuyers.

A National Association of Realtors study confirms this trend. The survey recently found the percentage of first-time homebuyers under age 25 has been increasing — a trend it attributes to the continuing response to historically low interest rates and confidence in the long-term housing market.

Edu states that one of the greatest motivators of this generation is a sense of independence, along with a tremendous sense of pride that comes with owning real estate.

"Then there are the people who just think home ownership is impossible for them," says Edu, who recalls one couple who felt that way recently and just needed a little encouragement and direction.

"This couple was saving money to buy a new car," says Edu. "Purchasing a home never occurred to them because other's told them that in their position, homeownership was impossible. The next best thing was a brand new car, so that was their goal — until they met me."

Edu says, fast-forward a couple of months, they didn't end up buying the car — they bought their first home instead.

"They had a decent income, but had little or no credit established as they have only been in the United States for less than four years," she explained. "Meanwhile, others in similar situations continue to rent."

Edu's advice for buyers of any age who are holding back?

"Stop paying your landlord's mortgage," she says. "Why deal with continuous rent increases, no tax shelter, no home to actually call your own and the possibility that ‘your place' will go up for sale at anytime, living in a home with someone else's rules?"

Homeownership has become trendy for this age group. She says once one young person buys a home, "then all their friends want to be homeowners too."

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