A majority of millennials believe owning a home is a more sensible option compared to renting for financial, and lifestyle reasons. Here are the top 5 reasons millennials who rent, decide to buy:
Have Complete Control of Space
Most millennials who have previously rented an apartment or single-family home know that it’s hard to live comfortably in a place that’s not 100% yours. Most put off possibly adding a pet to the family, or even something as small as painting the walls since the space isn’t theirs. Owning your own home gives you the ability to do those things, and anything else you would like.
Privacy and Security
Having your own home, gives you the ability to control the access and availability of your home. It also gives you the option to add any security you deem fit. No surprise this one of the top 5 reasons you’d want to own your home.
Live in Nicer Home
Purchasing a home gives you the ability to choose to live in a nicer home, or buy a fixer-upper, and renovate it to its true beautiful potential that works for you.
Feel Involved in Community
Once you own a home, the stakes are now raised because your home value ties directly to the neighborhood/community you choose. This alone is a major reason residents become more involved in the community.
Flexibility with Future Decisions
Owning a home gives you the ability to save more money. Now that you’re paying your own mortgage instead of someone else’s by renting, you can use your extra money for savings.
At New Door Residential we stay informed about all things regarding local Las Vegas real estate. This information came from Keeping Current Matters.