Millennials opt to rent

You would not be alone if you have had a struggle selling your property in Mpumalanga, with the younger generation leaning towards the rental option it would makes sense that the sellers market would find it a little slow. In this article we discuss the reasons behind the mindset of youngsters today and why they steer clear from the option to buy.

Maintaining a property is a huge responsibility and when it comes to millennials the option of hassle free is so much more appealing. With the thought process being that of the landlord will take care of it, it is just one less stress for a youngster to have to concern themselves with.

Millennials prefer the option of freedom and flexibility, renting a property means that you are more able to pack up and leave should the need arise. Given that many youngsters remain in a job for maximum 3-5 years, and want the option to be able to look for better prospects and move closer to their new job.

With many youngsters having the cost of paying off student loans, not to mention other debt, more often than not they will not be eligible for a home loan. This being the case it is often not the case of not wanting to own a home but the simple fact that it is an impossibility.

Another factor that plays a huge role is the topic of marriage, millennials are in no hurry to settle down and have a family, which makes the need of owning a home so much less. Many youngsters are on a journey of self discovery and want to take the time to find out what it is they want out of their life.