Why do young people prefer an Apartment Lifestyle?
Why do young people prefer an Apartment Lifestyle?
As generation evolves, changes arise, and slowly the old norm overlaps with new ones. These changes also apply to how generations before and the new view their quality of living and lifestyles. With a simple comparison of generations of our grandparents and parents with millennials, we can see a great difference in housing preference. Millennials that were born between the 1980s to early 2000s lean toward convenience and efficiency over long-term stability as they are always on the run and exploring new investments. Therefore, millennials prefer living in apartments more so than owning a house. If you want to learn the reason why living an apartment lifestyle is attractive to young people, continue reading down below!
The idea of living in a modern apartment is already very attractive to young people, however, living apartment lifestyles also have many great benefits for millennials. Some of the most sought-after apartments offer millennials irresistible benefits that fit with their lifestyle. Here are some of the reasons why young people prefer an apartment lifestyle:
Affordable Financial Budgeting
Moving out is every young person’s wish, to have more freedom, accountability, independence, and simply have their own space making room for a career – and future development. This is exactly why living in an apartment is very ideal for millennials. Financially, for those who just moved out on a limited budget, living in an apartment can be more cost-friendly than owning an actual house. Even if taking a mortgage loan is also available for houses, it is much less expensive and of course more affordable for young people. Affordability and financial planning for other investments are very important in the current society making an apartment lifestyle so popular.
Great Location for an Active Lifestyle
Besides the financial benefits, young people would also opt for an apartment lifestyle as they have more access to their daily life convenience, and flexibility. Living in an apartment is less troublesome for the younger generation who are still exploring their career paths, or creative values before settling down. This lifestyle offers millennials more mobility to roam around considering their workplace, university, or any other personal & professional reasons. In addition, most apartments have access to close transportation routes, supermarkets, hospitals, schools, and other entertainment.
Stress-free from Maintenance
The stress from maintenance is inevitable for house owners but not as much for apartment owners. From paying taxes to general maintenance care, living in an apartment is less stressful and will not be concerning for those that are either renting or leasing an apartment. Moreover, since the apartment size is smaller, the maintenance is much easier to keep neat and tidy. For young people with busy schedules, living in an apartment can help lessen the burden of keeping their space tidy and taking too much of their free time.
Less for More Lifestyle
An apartment lifestyle also offers millennials access to modern equipped facilities all in one place. Most apartments offer access to parking, security, a swimming pool, a gym, and other common areas promoting better living. Besides, depending on the apartment locations, millennials would have an easier time commuting to and from city centers and enjoy the nightlife safely and conveniently. All of these at the expense of an apartment, whether for renting or owned, is a great deal for millennials.
Connection and Community
Considering how connectedness and sociability are one big part of a millennial’s daily life, an apartment lifestyle offers them a sense of community by living in a shared space. Younger people have the opportunities to meet new people and make friends both personally and professionally as well as live in a closely shared space. Moreover, they could easily connect with people both within the proximity of the apartment or travel to nearby neighborhoods.
Most millennials prefer living in an apartment as it is more cost-saving, convenient, and fits very well with their active lifestyles as youths. Since nowadays young people take their time before starting a family and settling down, there is no need for them to own a house yet and instead focus their finances on future investments and saving. Overall, apartments are now one of the most sought-after residential real estates, if you are looking to find or invest in apartments in Cambodia you can reach out to the CBRE team for more helpful insights.