Understanding Why Millennials Prefer the Condo Lifestyle
Millennials, a true puzzle to previous generations, exhibit a different set of decision-making skills that are both unique and unpredictable. As the younger generation dominates the bigger portion of our society, new preferences that are different from the norm becomes prevalent. One of which is their predilection for condominiums rather than the standard house and lot home. Let’s understand how our young people who are smart, practical and dynamic see the advantages of living urban than rural.
Millennials, having born alongside innovations in technology, are fast faced and goal-oriented. Living in a condo in the middle of Toronto gives them an easy access to companies and business establishments paving the way to opportunities in starting on their career path. They are known to advocate the stress-free environment, thus a short travel time to work or the accessibility of the subway is a big factor to consider. Also, a short distance between office and home eliminates time wasted in traffic jams and encourages a healthier lifestyle of cycling or walking to work.
Millennials place great emphasis on their social life. Individual growth is equally important as their professional growth. Their need to be connected is sufficed by condos that are near offices, malls and other establishments. They’re aware of how stressful the world is, so anything that can make things easier for them is a plus when choosing a place to live.
Security also plays a role in their choice of condos as their home. The comfort of not worrying about fixing and spending on a leaking roof or a broken window as those jobs and expenses are part of why they pay condo dues for. Time is very important for the millennial. So, instead of fixing leaking roofs or pipes at home, they can use the time working on their careers or pursuing hobbies.
Another trait strong to this generation is their drive for work and life cohesion. Unlike previous generations who spent their life focused on mostly just one side of the coin, millennials see opportunities and pleasure on a larger scale. This makes condos appealing because of the amenities it can provide. Gym, pool, spa, event hall – you name it. Homes do not just give shelter and accessibility to work, it also encourages one to have fun and relax after a day at the office.
It is also not surprising that this generation is a known mover. They are diverse and flexible. This makes buying a condo a sensible investment for the future. When it’s finally time to move and find new challenges, a different environment to breath, they can easily rent out their condos. This makes their home a valuable current and long-run investment.
Though millennials think in an unconventional way, just like other generations, they decide based on the benefits they’ll get and their priorities in life. Living in the city is never a bad thing, we just have to understand how they view the advantages and be open to new possibilities.