Millennial Home Buying Trends
Everyone loves dogs!
Well, most millennials do anyway, and it’s one of the reasons they’re driving up home sales. They have grown up in a different era that is more aware of the environment, the natural world and animals. Unlike generations past, the pets of today are considered family members, not an afterthought. In fact, more millennials are waiting to have children or who have decided not to altogether. Some say having a dog is cheaper than having a child and that dogs can provide love and a sense of family.
The demand for rentals that allow dogs are high, yet the supply is dwindling fast. They’ve found that apartment living isn’t ideal, not to mention the ridiculous pet fees, deposits, and restrictions that are associated with a rental for their furry bestie. Factor in time away due to their busy schedules, pets are not getting the exercise and environment needed to thrive.
Ready and Able
Most millennials have good credit thanks to financially savvy parents who taught them the importance of saving and investing. Now they’re ready and able to buy their first home. Sure, there is student debt to consider, but most mortgage payments are less expensive than rent – especially in a HOT market like the Tampa Bay Area. Don’t discount the millennials – they’re already making more headway than Gen-Xers ever did!
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