Millennials are people born between 1977 and 1984. Millennials, also known as Generation Y’s, have grown up in an electronics-filled world with an emphasis on social networking and the internet. They are tolerant of differences, ethnically diverse, and confidant. Millennials and home buying is becoming more popular.
Millennials and real estate go together like cookies and milk. Millennials are becoming the largest groups of home buyers according to Zillow Group report. Millennials represent 45% of all purchase loans and 17% of all Millennial homes are being purchased by single women, a trend never seen before.
Why Millennials are Becoming HomeOwners
- Millennials are independent and want to make their own creative design decisions. Millennial homebuyers want to paint the walls the color they choose.They do not want to conform and buying a home allows them the freedom to create the home of their dreams.
- 33% of Millennial homebuyers decide to purchase a home so their dogs can have plenty of space for exercise and fun. They want big yards.
- Millennials value privacy and security and owning a home allows them to install cameras and high-tech security gadgets without having to have landlord permission..
- Millennials value safety and owning a nicer home with comforts and conveniences.
- Millennials want to be part of their community. They prefer to be civically involved, so, owning a home in a tight-knit community allows them to be involved, giving them a sense of community and belonging.
- Millennials consider owning a home more sensible and sound than renting for both financial and lifestyle reasons. They see owning as an investment or a savings account where they can borrow from if necessary, in the future. Owning also gives them a secure location and safe place to marry and raise a family.
- Millenials are known to have an independent streak. Millennials want a place they can call home.
- Millennials crave freedom and control. Control of living space, privacy and security, financial security and living in a pleasant home makes buying a home a popular option for Millennials.
Richard S. Weinstein
Richard S. Weinstein is the real estate attorney you want to hire to help you when renting a home. If you are a millennial seeking home ownership, Richard S. Weinstein can help.
With over 50 years of experience as an attorney, Richard S. Weinstein assists clients with the important financial situations in their lives. Whether you are dealing with bankruptcy, real estate (both commercial and residential, including short sales, foreclosures, and title insurance), estate planning, probate, business formations, or sales or mergers, Richard S. Weinstein is the attorney with the education, experience, and knowledge you need! Call us at (561) 745-3040 or visit his website at rweinsteinlaw.com.
Law Office of Richard S. Weinstein, P.A.
250 S. Central Blvd. #101
Jupiter, FL 33458
Phone: (561) 745-3040
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