{"id":6171,"date":"2017-06-14T15:15:39","date_gmt":"2017-06-14T22:15:39","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=6171"},"modified":"2017-06-13T20:35:33","modified_gmt":"2017-06-14T03:35:33","slug":"millennials-moving-into-home-ownership","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2017\/06\/millennials-moving-into-home-ownership\/","title":{"rendered":"Millennials Moving into Home Ownership"},"content":{"rendered":"<p style=\"text-align: justify;\">Millennials have long had a reputation as the \u201cdelay\u201d generation, slow to reach many of the milestones associated with midlife: \u201claunching\u201d and moving out from the parental homestead, settling into a single career track, starting a family, and purchasing a first home. The Millennial cutoff is generally set at a birth year of 1982 or later, which means that the oldest Millennials are entering their mid-thirties and enjoying increased security and prosperity in a recovering economy. They\u2019re also starting to show interest in homeownership, and analysts are predicting that they\u2019ll become one of the largest sectors of the housing market over the next few years.<\/p>\n<p style=\"text-align: justify;\">What do Millennials want in a dream house? In this post, we\u2019ll take a look at some of the top priorities for Millennial clients in the real estate market!<\/p>\n<p style=\"text-align: justify;\"><strong>A Convenient Commute<\/strong><br \/>\nMillennials have brought a renewed focus on \u201cwork\/life balance\u201d to their professional lives, and that same interest in protecting free time has transferred to their real estate searches. They\u2019re particularly wary of grueling commutes that drain hours out of each weekday. They\u2019re also increasingly likely to seek public transit solutions for commuting and leisure travel, which means that they might be especially averse to settling in a sparse exurban environment with few viable bus and commuter train options.<\/p>\n<p style=\"text-align: justify;\"><strong>City Life..\u2026Or Something Like It<\/strong><br \/>\nMillennials have been reluctant to leave urban areas because they enjoy urban amenities: varied dining options, nightlife and live music, annual festivals, trendy shopping areas. They\u2019re open to suburban options, but only if they don\u2019t have to leave urban excitement behind. Millennial clients have also tried to balance urban amenities with suburban space and exurban prices by trading larger metropolitan cities for their smaller Midwestern equivalents \u2013 Millennials are turning smaller cities like Milwaukee, Madison, Columbus, and Pittsburgh into professional and cultural hotspots. Recent Millennial retreat from city centers has also led to increased investment in transportation infrastructure, as well as affordable housing developments inside city limits, as administrators try to hang on to their younger populations.<\/p>\n<p style=\"text-align: justify;\"><strong>Room to Maneuver<\/strong><br \/>\nMillennials have grown up into a seismic shift in professional consolidation and advancement, as professionals have become more and more likely to switch jobs and even career tracks several times over the course of their lives. This trend has given workers a great deal of flexibility, but it\u2019s also created a new set of priorities for younger professionals, who may be reluctant to leave urban areas that offer a wide range of professional opportunities. When Millennials make the move to the \u2018burbs, they want to make sure they aren\u2019t walking away from commercial and professional advantages. They\u2019re often more likely to settle in smaller cities and independent commercial areas than to opt for the more attenuated sprawl of an exurban development.<\/p>\n<p style=\"text-align: justify;\"><strong>Efficient Design<\/strong><br \/>\nMillennials care about the environment, and they tend to carry that sense of stewardship into their consumer habits, choosing fair-trade products, creative components, and durable craftsmanship. When it comes to homeownership, they seek out efficient design features. This focus includes sustainable construction materials, green-energy features like solar panels, and environmentally-friendly amenities like water-saving plumbing. Efficient design also includes efficient use of space, and Millennials are especially likely to want open-plan, multi-use layouts when choosing a new home.<\/p>\n<p style=\"text-align: justify;\"><strong>Low Maintenance<\/strong><br \/>\nMillennials will splurge on a high-end appliance or luxury piece of furniture, but they tend to be extremely value-conscious and leery of any option that would require significant cash outlays. For this reason, they\u2019re more likely to gravitate towards finished houses than \u201cfixer uppers.\u201d They feel much more confident with newer fixtures and fully-maintained properties, and they\u2019ll appreciate a seller taking the time to complete as many repairs and upgrades as possible prior to sale. They\u2019re also less attracted to the expansive yards, delicate gardens, and manicured lawns that characterized suburban development for so many decades. Although Millennials are eager to patronize community gardens or a shared green roof space, they\u2019re happy to have just a small balcony or terrace to themselves.<\/p>\n<p style=\"text-align: justify;\">Millennials are the largest generation since the Baby Boomers, and they\u2019re poised to transform the real estate market as they move into the next stage of their lives. Keep an eye on these trends in real estate marketing as this emerging demographic comes into its own!<\/p>\n<p><a href=\"http:\/\/realtybiznews.com\/millennials-moving-into-home-ownership\/98742153\/\" target=\"_blank\" rel=\"noopener\">Millennials Moving into Home Ownership<\/a> by Realty Biz News<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Millennials have long had a reputation as the \u201cdelay\u201d generation, slow to reach many of the milestones associated with midlife: \u201claunching\u201d and moving out from the parental homestead, settling into &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2017\/06\/millennials-moving-into-home-ownership\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-6171","post","type-post","status-publish","format-standard","hentry","category-real-estate"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Millennials Moving into Home Ownership &#8226; 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