Millennials Turning to Condos and Shun Traditional Homes

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Photo courtesy of Matt Hintsa via Flickr, Creative Commons

The 21st century has seen an increase in millennials preferring urban living. An article by Mike Wheatley in Realty Biz News stated that 1,000 adults aged 18 to 35 prefer small-sized but functional homes, as per referral to survey results obtained from Better Homes and Gardens.

As urbanity continues to thrive around the world, condos in key cities subsequently play integral roles in the new-age Generation Y’s lives. Just how does a condo city lifestyle bring benefits to young adults? What makes this lifestyle stand out from the traditional way of living?

 

Financial Struggles Dominance

Many young adults struggle in paying off their student loans. Moreover, most of them are at their peak of calling their shots in being independent.

Bigger isn’t always better for most millennials. Financial constraints have prompted them to choose cheaper condo urban living that produces optimal benefits.

City living equals to budgeting. This is why young professionals prefer not to waste their money paying for an unused larger living space. These individuals are at the peak of their lives’ milestone. This means they don’t need a larger living space to start a family at the soonest time possible.

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The No-Strings Attached Factor

Massive unemployment has also caused Generation Ys to postpone marriage and having children. Because of this, traditional homes have become obsolete in the eyes of these individuals.

Millennials don’t want to deal with an excess baggage in case they decide to move to a better home. They may suddenly run short of money severely that they’ll need to move in to a home with cheaper rent.

The temporary living set-up that suits these individuals have initiated their residence preference for condos. Young adults enjoy the convenience of being able to vacate a rented condo after a temporary stay. The changing needs of these people cause them to switch residence location frequently. Therefore, renting a condo works better for yuppies than purchasing a house.

 

Job Opportunities Abound in Cities

Suburban living is out of the question for millennials. They thrive in finding the right job that can sustain them. There’s no better place for these young people to find what they’re looking for than in the city.

Massive hiring commonly takes place in the city. As more city residents incur needs for various services, manpower becomes in demand.

Because many businesses likewise thrive in the city, the manpower needs are unlimited. Having said this, it’s quite common to hear cities maximize job opportunities that young professionals may avail of. True, competition is tough. However, opportunities always prevail.

 

Public Transportation Accessibility

As young adults experience financial shortages, they prefer to commute rather than own a car. Millennials have the urgent need to save for their future. Therefore, prioritize budgeting their transportation expenses, too.

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Photo courtesy of  Mateus Felip C. via Flickr, Creative Commons

City living, unlike suburbia, allows easy access to public transportation. Buses and train rides are quite common in urban areas.

Residents don’t have to wait for a long time before they’re able to catch a ride to commute. Therefore, commuting in cities has never become a hassle for them.

 

The Effects of Aesthetics

Urbanity offers a true beauty of a city that never sleeps. You may likely not consider it important, but the aesthetic appeal of your residence location can affect your emotional well-being.

Millennials need to get away from the daily stress in their lives. Calming down after mesmerizingly staring at the beauty of the scenery is something you may have heard about.

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Photo courtesy of Sarah Ackerman via Flickr, Creative Commons

Depression and other mood swings may easily be alleviated by the soothing effects of a breath-taking view. People become more productive to do their best at work and in school when they live in a physically appealing environment.

 

The More People, the Better

Young professionals of today will not be able to feel the value of a cookie cutter home without having someone to share it with. Finding a mate or a partner in life becomes easier by living in cities.  Urban living allows people to meet more individuals that have similar interests. This is mainly because cities generally have higher populations than suburbs and rural areas.

Living in the city can greatly benefit millennials who are of marrying age. Mingling with many people allows them to collect and select.

 

Nightlife City Prevalence

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Economic progress in real estate has given rise to increased trends in urbanity. As more people, particularly the working youth, troop into cities, nightlife entertainment continues to prevail.

More population in cities means more people craving for excitement. Because of this, clubs and bars become the top hangout places for yuppies.

 

The Availability of Entrepreneurship Opportunities

Of course, there are young adults who value entrepreneurship ventures, just like how they value real estate. Those who come from affluent families prefer to live in cities where business opportunities are highly possible to attain.

These young professionals make it their goal to become rich. There’s no other place they can best achieve this goal, except in the city.

 

The Value of Reputation

You’ve probably heard it before. Young adults put high priority on their social reputations. Getting in on the trend of urbanity allows millennials to obtain and keep a “cool” reputation among friends and social cliches. Keeping this reputation is somewhat difficult when your friends learn that you live in rural or suburban areas.

 

A Way to Keep Busy

As the youth today become incessantly restless, they seek hobbies that will spice things up, and the city provides various entertainment for them. Shopping, movie theaters, and parks, among others, are places where the turn-of-the century yuppies may kill time to avoid boredom.

The real estate industry has undergone humongous progressive changes over the years. These changes have paved the way for Generation Y to take advantage of the situation in favor of their needs.

If you were to choose between condo vs. traditional homes, you’d definitely make an obvious choice. Choosing to live in a condo outweighs the benefits than disadvantages imposed on millennials. You need to make the right choice sooner rather than later. You can’t afford to lose precious time in making the most your life has to offer.

 

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