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Buying, Renting, or Both? A Homeownership Lesson From Millennials

Updated: Jan 12

Many people think that homeownership is a headache because of inflation and many other factors that they have to consider. On the other hand, millennials have been proving this wrong, especially since report shows that they are getting the best of both worlds when it comes to renting and owning homes.

According to Mynd's Consumer Insights Report, millennials are just as aware when it comes to the challenges that they may face when buying a home, however, they are still eager to pursue homeownership.

This is because most millennials see homeownership not just as a place to stay, but also a source of income. Since most of them may transfer to difference locations for their jobs, leisure, or both, they may need to rent places. In order to sustain rental expenses, they rent out their properties which is a smart move in terms of getting their loans paid off while enjoying the freedom of living wherever they want. In fact, two-thirds of the Millennial and Gen Z participants agree that investing in properties is a wise financial decision.

Apart from the flexibility of living according to their preferred location, millennials are also able to build their net worth faster, compared to those who wait for a long time before investing in real estate.

If you are looking for ways on how you can buy your first investment home or planning to move elsewhere and want to know what your options are, make sure to talk to real estate expert such as Kyle Kelly of the Island Wide Team. Getting professional advice will not only make things easier for you. It will also help you save time and have peace of mind.

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Disclaimer: Views and information provided in this post are for general informational and educational purposes only and is not a substitute for professional advice. Before taking any action based upon such information, we encourage you to consult with the appropriate professionals. The use or reliance to any information contained on this site or mobile application is solely at your own risk.

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