Let’s face it: we don’t often associate real estate with the millennial generation. From moving around, getting married older, and not having children, millennials tend to lead a life that doesn’t coincide with them settling down in any one location for an extended amount of time.
However, due to the recent shift in the world caused by the Covid-19 pandemic, Jacques Poujade would venture to say that we’ll see a shift in the relationship between real estate and millennials very soon.
As a leading real estate investor and managing partner at LendPlus, Jacques Poujade knows the importance of staying on top of trends in the real estate industry. In fact, it’s Jacque Poujade’s ability to understand his clientele and their needs that allowed him to become successful in the real estate realm.
It’s due to this insight that Jacques Poujade is sharing the millennial real estate trends to watch.
While it used to be commonplace to move to the house in the suburbs with the white picket fence, the millennial generation has redefined the American dream. In fact, Jacque Poujade expects to see an increase real estate purchases in more unique, exciting, or even exotic locations.
Before the pandemic, the main barrier that kept buyers – specifically millennials – in a specific area was the location of their job. With so many companies going remote permanently, I’d expect the adventurous spirit of the millennial generation to consider settling down in their dream location due to no longer being held down by that structure.
A common downside to buying has been that, when you buy real estate to live in, many feel that they are “stuck” in a place. If anyone is going to bump against that stereotype, it’ll be the millennial generation.
In fact, with their innovative spirit, I wouldn’t be surprised to see a lot more flipping in the real estate world due to feeling less tied down to one single home or location. Likewise, if the money is there, I would expect an increase in purchase of multiple homes due to this vagabond spirit of buyers.
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When we think of purchasing real estate, we often envision homes large enough for multiple people. Again, since millennials aren’t settling down quite like the older generations have, I’d expect to see a boost in purchasing condos, apartments, or townhomes in otherwise expensive locations.
Those apartments in big cities or townhomes on the beach are prime for the taking among the millennial generation due to no longer prioritizing square footage, but rather accessibility.
The millennial generation is nothing if not opportunistic. It’s due to this spirit that I’d expect many to begin buying soon for one strategic reason alone: the market.
While the world is uncertain right now, the market is primed for buyers. As a naturally strategic group, the millennial generation is more likely to take this opportunity than many other demographics.
Between the other shifts in the world, the lower mortgages could be the cherry on top of the shift to buying real estate.
Featured image used by permission from Jacques Poujade