dotlah! dotlah!
  • Cities
  • Technology
  • Business
  • Politics
  • Society
  • Science
  • About
Social Links
  • zedreviews.com
  • citi.io
  • aster.cloud
  • liwaiwai.com
  • guzz.co.uk
  • atinatin.com
0 Likes
0 Followers
0 Subscribers
dotlah!
  • Cities
  • Technology
  • Business
  • Politics
  • Society
  • Science
  • About
  • Cities

Millennial Millionaires Are Redefining What A Good Location Means In Real Estate

  • January 29, 2020
Total
0
Shares
0
0
0

Housing in America is expensive, and the price tags are still on the rise. This has forced major changes in the attitudes of individuals towards buying and renting properties. In this article, the spotlight is placed on Millennials as regarding their preference in home buying and the factors that determine those preferences. Millennials in America are the largest source of new demand for rental housing and represent 32% of the U.S. home buying market and 68% of first-time home buyers, according to UpNest. There are approximately 618,000 millennial millionaires who make up approximately 2% of the total U.S. millionaire population and 0.2% of the general U.S. population (Source: Coldwell Banker Global Luxury program).

Wealthy millennials are scouting for more affordable options in the real estate market, and this is no news considering the price hike on new construction properties. These price hikes have shifted the dreams of many who wanted a certain dream location may be in the hidden hills or some sought. The value of homes has increased by a total of 40 % in less than 20 years in top states where a number of wealthy millennials live.

West Hollywood was a go-to location for the wealthy millennials due to its affordability in price. From the report of the Harvard Joint Center for Housing Studies, the home values in California, Florida and New York have increased by 40% since 2000; those cities were highly sought out for by the wealthy millennials. Now, they have restricted their house hunt to suburbs and second-tier cities. Millennials are buying fixer-uppers in other favorable areas, properties that can be easily revamped to suit their own taste. Most millennials who cannot afford to purchase homes in San Francisco run to get affordable options in the bay area. Places like Boise and Idaho are top picks for them.

Aside from the issue of price, other factors also come into play when the wealthy millennials are house hunting. Millennials still place focus on the type of environment they live in, the neighborhood and accessibility to the majority of places. Most millennials with regards to home buying, try to use one stone to kill as many birds as possible. They buy homes in strategic locations, most of the time at the center of the action.

The focus for most of them is “walkability.” They want to be able to walk to stores, shop, gym cafes and be as close to the action as possible. Millennial millionaires are shaping what a good location is in the modern real estate market. They are willing to let go of a luxurious home outside town and stick to the “not so” traditional luxury homes. Good health and wellness are important to them. They want to be a to take strolls to the yoga studio, gym, fun spots and also the views from the house is taken into consideration.

To end, the definition of what a good location is has changed. It used to be elite neighborhoods that were usually gated and located outside of town. Millennials never want to be missing in action; that’s why location is a priority. Factors like price, accessibility, location and walkability now shape their preference; they put this into consideration when they are looking for a home.

Total
0
Shares
Share
Tweet
Share
Share
Related Topics
  • Home Buying
  • Housing
  • Millennials
  • Real Estate
  • Renting
dotlah.com

Previous Article
  • Science
  • Society

When Will There Be A Coronavirus Vaccine? 5 Questions Answered

  • January 29, 2020
View Post
Next Article
  • Environment
  • People
  • World Events

The Deadliest Pandemics In Human History

  • January 29, 2020
View Post
You May Also Like
View Post
  • Cities
  • Technology

Meralco PowerGen’s PacificLight starts up 100 MW fast-response plant in Singapore

  • dotlah.com
  • June 20, 2025
View Post
  • Cities

Renewable energy, carbon credits are priority areas of cooperation for Singapore, Philippines: Lawrence Wong

  • dotlah.com
  • June 4, 2025
View Post
  • Cities
  • Politics

Singapore businesses eye more investments in PH, says PM Wong

  • Dean Marc
  • June 4, 2025
View Post
  • Cities
  • Research

Mathematicians uncover the logic behind how people walk in crowds

  • dotlah.com
  • April 3, 2025
“Toyota Woven City,” a Test Course for Mobility, Completes Phase 1 Construction and Prepares for Launch
View Post
  • Cities
  • Technology

“Toyota Woven City,” a Test Course for Mobility, Completes Phase 1 Construction and Prepares for Launch

  • John Francis
  • January 6, 2025
View Post
  • Cities

Popes were once confined to Rome. Now they travel the world – and Francis’ current journey is particularly significant

  • dotlah.com
  • September 13, 2024
Singapore
View Post
  • Cities
  • Economy

South Africa’s new pension rules: Australia, Chile and Singapore show how personal savings can grow the economy

  • dotlah.com
  • August 30, 2024
Singapore
View Post
  • Artificial Intelligence
  • Cities
  • Technology

These 5 cities are making innovative use of generative AI

  • dotlah.com
  • July 29, 2024


Trending
  • 1
    • Cities
    • Technology
    A Better Daily Commute Is Possible – Just Ask Residents In These Cities
    • January 23, 2020
  • 2
    • Technology
    M1 And SUTD Unveil Joint Research To Advance 5G Robotics Technology And Innovation
    • July 27, 2019
  • 3
    • Lah!
    • Technology
    DBS Launches Asia’s First Automated Digital Bond Issuance Platform
    • June 22, 2021
  • 4
    • Technology
    Introducing Operator Connect For Microsoft Teams With Singtel
    • October 5, 2021
  • 5
    • Lah!
    • Technology
    ST Engineering Launches Anti-Microbial Solution Approved for Use In Cabin Interiors
    • February 4, 2021
  • 6
    • Cities
    • Lah!
    • Technology
    Grab Establishes The Tech For Good Institute; Releases New Platform Economy Research Report With Bain & Company
    • October 9, 2021
  • 7
    • Cities
    • Lah!
    Singapore Smart Nation’s Digital Government Blueprint
    • June 28, 2019
  • train covid19 commuter 8
    • Cities
    • World Events
    Here’s How To Make Public Transport Safer During COVID-19
    • September 28, 2020
  • 9
    • Cities
    Hydrogen To Play A Key Role In Mobility And Sustainability
    • February 7, 2021
  • students-pexels-tima-miroshnichenko-5427648 10
    • Features
    • People
    How Much Do Countries Spend on Education?
    • September 21, 2021
  • 11
    • Technology
    Go Ignite Partners Seek 5G Use Cases In Global Call For Startups
    • July 24, 2020
  • 12
    • Technology
    Why Does Culture Sometimes Evolve Via Sudden Bursts Of Innovation?
    • September 13, 2019
Trending
  • 1
    Apple unveils iPhone 17 Pro and iPhone 17 Pro Max, the most powerful and advanced Pro models ever
    • September 9, 2025
  • 2
    Apple debuts iPhone 17
    • September 9, 2025
  • Fruits and vegetables for cooking. For food processors. 3
    Food Processor: The Swiss Army Knife of the Kitchen – Best All-Around Picks in 2025
    • September 8, 2025
  • 4
    Meet Samsung Galaxy Tab S11 Series: Packing Everything You Expect From a Premium Tablet
    • September 4, 2025
  • 5
    Malaysia’s ‘ASEAN Shenzhen’ needs some significant legal reform to take off — here’s how
    • August 25, 2025
  • French Fries 6
    Air Fryer: The One Cooking Appliance to Rule Them All – Best All-Around Picks in 2025
    • August 22, 2025
  • 7
    Samsung Electronics Debuts Odyssey G7 Monitors, Showcasing Top Games on Its Displays at Gamescom 2025
    • August 20, 2025
  • 8
    HP Cranks Up the Game with Smarter Systems, Cooler Builds, and Gear That Hits Different
    • August 14, 2025
  • 9
    New Trump tariffs: early modelling shows most economies lose – the US more than many
    • August 6, 2025
  • Scuba Diving 10
    Wetsuit or Drysuit? As always, it depends. This quick guide can help you choose.
    • August 2, 2025
Social Links
dotlah! dotlah!
  • Cities
  • Technology
  • Business
  • Politics
  • Society
  • Science
  • About
Connecting Dots Across Asia's Tech and Urban Landscape

Input your search keywords and press Enter.