Millennials Power The Real Estate Market.
For the fourth consecutive year, millennials are the largest group (33%) of home buyers in the nation, (66% of which are first time buyers) and Miami is one of their top ten destinations to buy. According to a recent Realtor.com study Miami ranks as the second most desired U.S. city for millennials to live in, not only because of the sunny weather but for diversity of job opportunities and its start up culture.
What Millennials are buying
If you are considering selling your home in the near future, it’s important to know what millennials are looking for.
For one, they are doing away with a starter home from the get go, demanding more square footage (2000 to 2600 sq ft) with 3+bedrooms. Also gone: the fixer-upper. Millennials don’t want to bother with renovations.They want turn-key and smart homes. Open floor plans and gourmet/chef kitchens are ‘de rigueur’ as well as outdoor space for gardening, especiallygrowing vegetables. The pursuit of a healthier lifestyle is spurring this trend for gardening, which has now become a $36.9 Billion industry.
South Miami offers great choices for Millennials
Millennials are finding South Miami, with its varied real estate opportunities and great schools, a fantastic place to put down roots.
For more detailed information on South Miami living, feel free to reach out to us at any time. Call The Monica Betancourt Group at 305.632.7248.