A New Decade Of New Homeowners
2020 isn’t just a new year, it’s a new decade. That means collectively, human psychology is looking to advance itself in terms of generational stability. Millennials have a feeling, not unlike that which impels our day-to-day “circadian” rhythms. It has been said that would-be mothers have an internal “clock” propelling them to seek a mate before it’s too late.
This sort of internal emphasis exists in all people to some degree or another. In reference to one sort of activity or another. In terms of stability, career, around a person’s late twenties to late thirties, urges to mature.
This is where millennials are at right now in their collective “generation”. If you were to average everyone out according to age. What this means is that millennials are doing much to drive real estate in 2020. We’ll examine a few ways this is happening in the following writing.
1. Retention Of Market Stability Through 2020
It is expected through 2020 that the housing market will very likely be propelled by millennials. Part of this is the internal emphasis alluded to earlier. Additionally, millennials are quickly coming to replace the boomer generation —not just in the United States.
Projections for 2020 remain stable and on a positive trend as regards the real estate market. This means that proper purchasing will yield equity Return On Investment (ROI). You’ll want to be strategic about it, but there’s plenty of opportunity in 2020 to secure lasting future profit.
2. An Onus On “Eco-Friendly” Real Estate
The millennial generation was raised by both boomers and generation “X”. Here’s what that means: there is a high regard for ecological friendliness in property design. Homes with solar arrays or other green techniques incorporated. It’ll tend to have greater market value. Installing solar can increase the value of your own property in excess of the installation cost.
Additionally, in 2020 more builders are more likely to use eco-friendly materials. Advertising on the internet the fact for potential buyers. It’s also notable that millennials are likely to pay higher to have a reduced impact on the environment as a whole. This is something to think about for home sellers, home buyers, marketers, and millennials.
Think about this, too: when the market is “hot” for ecologically friendly properties. Those which haven’t been constructed in such manner will likely be less expensive. The payoff? You can get an excellent bit of real estate for thousands of dollars less!
3. Smaller Real Estate Emphasis
Something else that’s quickly defining 2020 is the “tiny home” movement. That is a property that is under 300 square feet. In some places, a “tiny home” might be 500 square feet or under. Usually, the range will be in the 200 to 400 “ballpark”. Also, properties that aren’t technically a “tiny home”, but are relatively humble, will spike in 2020.
Expect many homes that are essentially cottages to be sold. For such situations, moving companies like UMoveFree can be an integral part in helping movers cut costs during a property transition. Expect such companies to increase in value through 2020. If you’re a person who invests in the stock market, such collateral real estate businesses may very well yield investment ROI.
4. Potentially Lower Down Payments
According to the following article, owing to varying market factors such as property scarcity, it could be possible for you to secure a decent home for a lower downpayment than has traditionally been the norm in 2020. This means bigger properties to younger buyers for less money down.
Capitalizing On Real Estate Trends As The Year Progresses
Whether you are a millennial looking to purchase your first home, or a millennial selling a property. Maybe you’re not a millennial at all! Looking to capitalize on associated trends in 2020, there are plenty of avenues for profit this year. Smaller homes, the “green” movement, reduced payments, and expected market stability are all big factors in 2020.
Altogether, these factors make investment in multiple areas of the housing market a lucrative pursuit. Consider what options you have available to you. Maybe this is the year to make that financial jump into real estate!