Although it may seem like owning a home is harder than ever, buying is still better than renting! Many millennials may feel like finding a home and coming up with a down payment is impossible, but here are 4 reasons that millennials are choosing to buy anyways.
- To have control of their living space – Most millennials are buying their own homes to have control of their living space. Being free to paint the walls and rip up the carpet is a HUGE advantage to buying.
- To have a sense of privacy – When you rent, your landlord can access your home whenever they want, and there are who knows how many copies of your keys floating around. When you own your own home, YOU control who has access to your home, not your landlord.
- To feel engaged in their community – When you own your own home, you are automatically more invested in your community. When your home value is directly tied to the neighborhood you live in, you want to improve and maintain your neighborhood.
- To have flexibility in their decisions – Owning a home and making house payments is basically like having a savings account that can be borrowed against in the future. This option makes many homeowner feel more secure in the outcome of their future.