By Runwal Group Posted On Jul 08, 2021
Category Residential properties
Millennials are a generation of tech-savvy individuals who prefer doing product research online before deciding to buy. When it comes to property investment, the research becomes more critical, and they need more information about the property, including property images, comparisons, and builder's reputations. After researching and collecting all the possible data on the product, young adults don't elude from spending big when purchasing something they want, such as a stunning car or a dream apartment in a happening locality. In this article, you will get to understand what makes millennial homebuyers spend big on premium projects, and some of the reasons include:
The work-from-home trend, online study, and spending more time indoors in the pandemic have created the need for extra space among millennial homebuyers for privacy and comfort. Many real estate developers offer apartments with extra space to meet homebuyers' needs and to be relevant in the current market scenario.
The extra space in the apartment ensures convenience and comfort and makes the investment worth it.
Millennials prefer the modern lifestyle and luxury living. The premium real estate projects provide a good space to live, make life luxurious and modern by providing top-notch amenities and extraordinary facilities like a gym, swimming pool, and garden on the premises. Hence, millennials don't mind spending big on such real estate projects.
Most of the property owners hesitate to have young adults and bachelors as tenants. After a long search, millennials find a house for rent, but it comes with a long list of rules and restrictions. Therefore, to avoid these restrictions and live life on their terms, home ownership becomes the best and only option for them.
With no restrictions on inviting friends, indoor parties, and the number of people staying in the house, property investment makes sense to millennials.
In the pandemic, many tenants were told to vacate the house by owners because of numerous reasons. The house shifting became increasingly stressful because of the lockdown restrictions and less availability of rental property for millennials, and home buying became the best option. With homeownership, they can avoid the shifting difficulties and a huge task to find another house.
The expenses relating to shifting such as brokerage, packers and movers charges can also be solved by owning a house.
As millennials are smart investors and want to generate passive income for the long term they tend to invest in property. It brings convenience to millennials as they can live in their own house or rent it out and even sell it after a few years for a higher ROI and buy another property.
A dependable source of income in the form of rent and good resale value are some of the main reasons millennials are ready to buy real estate property.
Runwal is ready with its latest and premium projects with extraordinary features to fulfill all the property requirements of millennial homebuyers. Broadway in Runwal avenue is a high-value project in Mumbai that highly appeals to millennials' tastes and desires.
If you are among those young and smart homebuyers looking for a luxurious 1 BHK in Kanjurmarg, then an apartment in Runwal Broadway can be one of the best investments of your life. So, contact us and schedule your site visit soon to become a proud owner.