Millennial Housing trends are changing and are one of the best investments presently. 20% of millennials are looking for homes, they have a heavy influence on housing trends and how the market is flexing and adapting to their demands. Millennials will be driving a significant portion of your business, so it is important to keep up with what they are looking for in new homes. Certain new trends are increasingly becoming prominent in the real estate market. Millennials are looking out for affordable housing, be it rented houses or new homes for themselves. Let us discuss their priorities, challenges when it comes to choosing Homes in Lucknow.
Millennials are Researchers
The rise of the internet and smartphones has empowered millennials to do their own research before making any financial commitments. They have all the information at their fingertips. While researching for the Lucknow area, they can indeed get good deals – 2bhk and 3bhk flats in Lucknow, Luxury flats in Lucknow, flats in Gomti Nagar, flats under 30 lakhs in Lucknow, flats under 50 lakhs in Lucknow, and many more affordable houses in their budget. They drive for security, independence, and value.
Millennials want AffordabilityThey have visualized that the rates of rent were low, so it was not necessary to buy a property. Property prices will increase and if Millennials do not buy them now, it may reach some crores in a few years. Therefore, this will be out of the affordability of most of the millennials. They have also realized that this is the right time to buy new homes in Lucknow for themselves. Their personal preferences include the proximity to schools, hospitals, and offices while buying any house in Lucknow or even rented one. Keep it within BudgetMillennial buyers tend to purchase smaller houses in Lucknow, due to debt and an increase in housing prices. Another factor is the low down payment, and they get good deals from the banks and financiers. Millennials prefer to pay a 20% down payment and rest through EMI. This will help them to get their affordable homes in Lucknow. Millennials are not afraid to move millennials are willing to travel and relocate for secure jobs, safe neighborhoods, and their desired standard of life. Lucknow provides them all this. Gomti Nagar and Gomti Nagar extension, are the upcoming areas for the fabulous location with all the amenities and facilities. There are Villas in Gomti Nagar, Flats in Gomti Nagar, and Apartments in Gomti Nagar, Luxury apartments in Lucknow, etc. LDA approved flats in Lucknow are more beneficial to the Millennials. Most of the millennials love residing in flats with green living facilities around. Millennials are renting longer millennials are looking for rental properties that are family-friendly and give the feeling of a full home. They need open floor plans for family gatherings, ample storage space both within and outside. Outdoor spaces to play and socialize, trash rooms and a washer is indeed also very important. Whether it is for their entertainment, social or career needs, millennials undoubtedly require all the facilities and upgraded technology. They would certainly not compromise in this. All these features help the Millennials to decide on what they would prefer to opt for. Rental or buying their own home depends on all the included criteria. For safe investment, they must take the guidance of the Best Real Estate Agent in Lucknow. They will be guided with all the advantages and disadvantages of rental and buying a new home in Lucknow. Millennials must take time out and then invest accordingly, as it would be an investment which they would not prefer to be at loss in any way. An article by Nidhi Rastogi