There are 72 million millennials in the United States. According to a recent survey, this demographic indicated that they’d like to become homeowners if they aren’t already. The following are the top reasons millennials are making the decision to buy a home.
Building equity. Homeownership is a long-term investment that builds wealth, increases net worth, and yields financial stability.
A new personal life stage. A committed partnership, having children, any change in one’s personal life may all point to the need for more space or a different location.
Stability or settling down. Establishing a career or making serious decisions about one’s lifestyle may inspire putting down roots.
Rising home values. Owning a home traditionally equals asset appreciation, which means a higher resale value when it comes time to move again.
A sense of freedom. The liberty of expressing creativity to decorate and customize a home feels great, as does knowing a place is truly one’s own.