Why Millennials are Renting
As we head into the second quarter of the year, property managers across the country have noticed an increase in millennial renters. With mortgage rates at historic lows and houses still reasonably priced, you may be wondering how this is possible?
We are not certain, but our Northwest Florida property managers have a few possible explanations. First thing that comes to mind is that purchasing real estate in Destin, South Walton or the surrounding areas means acquiring more debt. Keep in mind that millennials may have some student debt still looming…
Another reason it makes sense for millennials to continue renting is to take advantage of apartment and community amenities. Pools, fitness facilities, on-site maintenance, these are perks that don’t usually come with a home purchase. And if they do, they come with responsibility as well.
Lastly, renting allows recent grads and other millennials flexibility and freedom to move around. Since they are just getting settled in careers, renting may make more sense than buying right out.
It is great news for you currently own or find yourself in the market for a long term rental in Destin. Just contact our team today for more details on how to capitalize on this long term leasing trend.