Millennials might be considered young by some of the older generations, but they’re actually quite grown-up. Millions of them are college graduates, in the workforce, and looking for a place to call home. If you’re a millennial navigating real estate listings and loan applications, we have some advice for you. Namely, we want to tell you why you should look into buying a single-family home.
A single-family home is simply a house where it’s one person or family’s dwelling is in one structure. An apartment complex or even a duplex wouldn’t qualify. If you’ve been living in a shared building, a single-family home can feel like a return to privacy. You don’t have to deal with thin walls meaning you hear everything your neighbors do. You also won’t have to worry about check-ins from apartment management or others in your building. This could really help your stress as well.
Be in Control
Homeownership is such a big part of adulthood because it shows much you take care of what’s yours. When you’re in an apartment and something goes wrong, you can just call up the building owner to get it fixed. Now, you’ll either need to hire and pay the help yourself, or fix the problem on your own. Some might see this as a disadvantage of owning a home, but it’s an excellent way to show how responsible you are. Remember to not take on any project that you’re not 100 percent confident you can perform safely.
Buying a home isn’t just about finding a place to live. It’s also about making a long-term financial investment. You need to consider a home’s resale value, even if you swear that you’ll never move. Single-family homes have higher levels of appreciation than multiple-unit complexes. They’re also less expensive to buy, making it an even smarter purchase. Perhaps you’ll invest in a slew of homes, helping to greatly increase your income over the years.
All homes brighten up with the efforts of their occupants. That being said, a single-family home can really help you put your stamp on your home. As a millennial, buying your first house is a major milestone. This is your time to show people how responsible you are and how much you want to take control of your life. Find the right single-family home for you, and see how much you love living in your very own space.