{"id":237662,"date":"2023-04-19T03:02:16","date_gmt":"2023-04-19T03:02:16","guid":{"rendered":"https:\/\/mbaresidential.com\/real-estate-news\/5-reasons-millennials-are-buying-homes\/"},"modified":"2023-04-19T03:02:16","modified_gmt":"2023-04-19T03:02:16","slug":"5-reasons-millennials-are-buying-homes","status":"publish","type":"post","link":"https:\/\/mbaresidential.com\/real-estate-news\/5-reasons-millennials-are-buying-homes\/","title":{"rendered":"5 Reasons Millennials Are Buying Homes"},"content":{"rendered":"
\"5<\/p>\n

In the United States, there are over 72 million<\/a> millennials. If you\u2019re part of that generation and have thought about buying a home, you aren\u2019t alone. According<\/a> to Zonda<\/em>, 98% of millennials want to become a homeowner at some point if they aren\u2019t already.<\/strong> But why? There are plenty of reasons you may choose to become a homeowner. Here\u2019s why other millennials have made that decision (see graph below<\/em>):<\/p>\n

<\/a><\/p>\n

This graph shows why millennials are buying homes according<\/a> to Zonda<\/em>\u2019s 6th<\/sup> annual millennial survey. The top reasons include building equity, a change in life stage, wanting stability, rising home values, and wanting to make somewhere truly their own. Here\u2019s a look at each in more detail.<\/p>\n

Building equity<\/strong> \u2013 Homeownership is a long-term investment that allows you to build wealth, increase your net worth, and become more financially stable. Beyond that, the alternative to owning a home is typically renting. With the way rents have risen so dramatically over time, it may make sense to build your own equity instead of the equity of the person you\u2019re renting from.<\/p>\n

A change in life stage<\/strong> \u2013 As a millennial, you\u2019re reaching your prime homebuying years. That means you may be at the point where you need more space or a different location.<\/p>\n

Stability or settling down<\/strong> \u2013 This could mean establishing your career or just generally deciding more concretely what you want your life to look and feel like. As that idea becomes clearer, you may want to establish that lifestyle in a particular place and put down roots.<\/p>\n

Rising home values<\/strong> \u2013 By purchasing a home, you own an asset that traditionally increases in value over time. That can mean your home will have a higher resale value if you decide to move again.<\/p>\n

Wanting to make somewhere \u201cmine\u201d<\/strong> \u2013 Owning a home gives a sense of freedom because you can customize it however you want, make updates as you see fit, and be yourself in a place that\u2019s solely your own.<\/p>\n

SBottom Line<\/h3>\n

There are plenty of great reasons why millennials are buying homes today. If you\u2019ve thought about becoming a homeowner and any of these reasons resonate with you too, partner with a trusted real estate agent to explore your options.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

In the United States, there are over 72 million millennials. If you\u2019re part of that generation and have thought about buying a home, you aren\u2019t alone. According to Zonda, 98% of millennials want to become a homeowner at some point if they aren\u2019t already. But why? There are plenty of reasons you may choose to […]<\/p>\n","protected":false},"author":1,"featured_media":237663,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","iawp_total_views":0,"footnotes":""},"categories":[6],"tags":[],"dipi_cpt_category":[],"yoast_head":"\n5 Reasons Millennials Are Buying Homes · MBA Residential<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/mbaresidential.com\/real-estate-news\/5-reasons-millennials-are-buying-homes\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"5 Reasons Millennials Are Buying Homes · MBA Residential\" \/>\n<meta property=\"og:description\" content=\"In the United States, there are over 72 million millennials. If you\u2019re part of that generation and have thought about buying a home, you aren\u2019t alone. According to Zonda, 98% of millennials want to become a homeowner at some point if they aren\u2019t already. But why? 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