Why do Millennials choose to buy a home? Control is a big one–over paint colors, pet ownership, privacy, security, and home renovations. There’s also a sense of community and belonging that you can get from owning your home rather than renting.
- “The majority of millennials said they consider owning a home more sensible than renting for both financial and lifestyle reasons — including control of living space, flexibility in future decisions, privacy and security, and living in a nice home.”
- The top reason millennials choose to buy is to have control over their living space, at 93%.
- Many millennials who rent a home or apartment prior to buying their own homes dream of the day when they will be able to paint the walls whatever color they’d like or renovate an outdated part of their living space.