Having a place to yourself is an entirely different story compared to just being in your dormitory or hanging out in a flat with your tight-knit group of friends. Owning real estate has come under fire recently. With people opting to rent instead of paying mortgages or rent to buy schemes, the real estate market is becoming owned predominantly by commercial industries who are sure to make a significant investment soon.
Why invest when you can rent?
People who rent mostly use it as a functional occupational hazard. If you’re in the industry of moving around from place to place, then you might not be that keen on keeping a property, especially if you’re unsure where your career path will take you.
Another main response of people who rent is the fact that they’re afraid to get a mortgage. Among other things, a mortgage is a regular payment paid either monthly, quarterly, or yearly depending on your payment plan. Though it’s apparent that it’s a considerable investment, people nowadays aren’t too sure about owning properties with the fluctuating prices and costs of living. A place owned in the suburbs might be overwhelmingly expensive soon compared to settling down closer to the city.
The approaching Gen Z
People want to be closer to opportunities more than finding a stable home. The reason why the newest batch of the workforce mostly have an interest in innovation and travel is that they have the added responsibility of feeling that they have to ‘save the world’. The idealism is brought about by the revelation of social injustices together with the genuine threat of the growing concerns in dealing with pollution in the environment.
The concept of being always on the move and finding new opportunities is preventing people from making critical investments in life. The new generation wants to be ‘where the war is’ and would rather be always finding different places to be rather than staying in one place to grow their roots.
Owning properties for the future
Instead of going with the flow with how the majority of this generation is facing the idea of ‘settling down’, you should opt to make a smart investment instead.
Property prices can seem expensive now, but it can only go downhill from where they are now. Properties are bound to become costlier as commercial industries are making the most out of the real estate market to secure their businesses. Places that are left for residential occupants instead of commercial are going down by the day. Finding the right property for you might be a challenging feat, but the advancement of technology brings forth plenty of ways to make it easier for you to scout the best property for you. Securing experts in the local area such as Gerald Eve Property Consultants can keep you in the loop with regards to the proper assessment and quotation of property, now and in the future.
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