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Millennial Homebuyers Are Ready To Spend Big! Here's Why

By Runwal Group Posted On Jul 08, 2021
Category Residential properties

Millennial Homebuyers Are Ready To Spend Big! Here's Why

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:

  1. Need for extra space
  2. Need for extra space

    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.

     

  3. Luxury lifestyle
  4. Luxury lifestyle

    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.

     

  5. No restrictions
  6. No restrictions

    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.

     

  7. No hassle of shifting
  8. No hassle of shifting

    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.

     

  9. High ROI
  10. High ROI

    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.

     

Conclusion

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.

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Disclaimer

The plans, specifications, images and other details herein are only indicative and subject to approval of the concerned authorities. The Group / Owner reserves the right to change any or all of these in the interest of the development, without prior notice or obligation. Artist’s impressions are used to illustrate amenities, specifications, images and other details and these may be applicable to select apartments only. Tolerance of +/- 3% is possible in the unit areas on account of design and construction variances. All brands stated are subject to final decision of the project architect. This printed material does not constitute an offer and/or contract of any type between the Group / Owner and the recipient. No booking or allotment shall be deemed to have been made on the basis of this printed material. Any Purchaser / Lessee of this development shall be governed by the terms and conditions of the agreement for sale / lease entered into between the parties, and no details mentioned in this printed material shall in any way govern such transactions unless as may be otherwise expressly provided in the agreement for sale/lease by the Group / Owner. The Group / Owner does not warrant or assume any liability or responsibility for the accuracy or completeness of any information contained herein.