Top 5 Reasons Why Millennials Choose To Buy
According to NerdWallet's Millennials & Homebuying Study, the top 5 reasons young renters choose to own are:
“The majority of millennials said they consider owning a home more sensible than renting for both financial and lifestyle reasons — including control of living space, flexibility in future decisions, privacy and security, and living in a nice home.”
The top reason millennials choose to buy is to have control over their living space, at 93%.
Many millennials who rent a home or apartment prior to buying their own homes dream of the day that they will be able to paint the walls whatever color they’d like, or renovate an outdated part of their living space.