Investing in real estate is not a small thing at all. For a lot of people, investing in a home is the biggest investment o their life. This is because having a home is truly a luxury, especially in a state such as California where real estate can be crazy expensive. Nowadays the people who are investing in real estate the most are millennials. Now is their time to purchase a home and start a family. But what exactly are the criteriums they have? How much do they know about real estate and are their expectations too high and demanding? We did research and found out just what are some of the things that California millennials are looking for in real estate.
If you are a millennial yourself or a home seller, this article will surely be a lot of help. Here is where you can read what are some of the things they pay attention to so that you can either do the same when buying a home or improve these things on the home that you are trying to sell. Either way, reading this article will be helpful for many.
Quality
One of the main things millennials are looking for in real estate is good quality. Investing in a home that isn’t made of good materials and that can’t last for years is not a good investment. Montage homes have been popular over the last couple of years. But now millennials are changing the trend. Montage homes are now rarely to be found as millennials are demanding good quality homes. Homes made out of stone or brick. Most people are looking for in real estate of good quality.
But there is a downside to these homes. Well, a couple of them. The first downside to a brick or stone house is that they cost a lot of money. As the supplies used to build such a home cost more than the supplies for a montage house, the house surely costs more as well.
Another downside is that repairs for such houses also cost a lot of money. But so does remodeling. Taking down a wall sounds easy but it really is a complicated task for which you surely need to hire professionals. Doing it yourself is simply not something you should be doing. You also need to know that adequate material is essential when both moving to this house and remodeling it. When moving, you need packing supplies, and when remodeling you need all the other supplies to be of good quality.
You can always build a home yourself. But is this the right decision to make?
A somewhat remodeled home
Not only does the home need to be made out of good materials but it also has to be at least somewhat new. Moving into an old home is not what a lot of young people dream of. There is an aesthetic moment to it but it is just not everyone’s preference. In order for a young person to like a house, it surely has to be somewhat remodeled.
Young people don’t want to have to do all the work themselves. They believe that as they are paying a lot of money for the home, it should at least provide the minimum such as repainted walls, shiny floors, new doors and windows, freshly installed piping and air conditioning, and a couple of other things. This goes for both houses and apartments no matter whether buying or leasing.
This is sole because doing these remodels takes a lot of time. Even if hiring professional assistance. You will surely have to move out of the home for a while if you decide to remodel some of these things after moving in. Having to cover all these expenses is not so realistic for a lot of millennials. This is why a lot of them are actually looking for a home that has already had most of these things done. If you end up investing in a home that needs to be remodeled, Family Affair Moving can help with moving out and back into your home.
A reasonable pricing
As we already mentioned, not a lot of millennials are earning a lot of money hence why pricing is very important. It needs to be reasonable. And this is when you take everything into consideration. The remodeling that has been done, whether the home is luxurious or not, the quality of it, the look of it, where it is located as in both the city and the neighborhood, what are some of the things that are near this location that you need such as a grocery store, a pharmacy, etc. Millennials are very observant and they want to have everything at reach. You can’t blame them. That is the best way to live.
But this is also what makes millennials so picky. Especially when it comes to pricing. They do love overpaying but not in this case. Homes cost a lot of money, especially in California. This is why they are always researching what are some of the most affordable places in California to live in and what are the best neighborhoods to consider moving to. Pricing plays an important role as well which is why there are dozens of websites where you can get an insight into real estate pricing.
The look of it
Not only is everything above important but so is the overall look of the home. Especially if it is a house. Millennials want their houses to look nice and expensive no matter how much money they paid for them. This is why the look is also one of the things California millennials are looking for in real estate. These beautiful homes are to be found in small Californian cities usually. This is perfect for those tired of big-city living. Living in a small town is much better if planning on starting a family.