1 in 4 Millennials Plan to Make This Counterintuitive Real-Estate Move
“Putting down roots” has a whole new meaning nowadays.
Published Feb 12, 2020 5:20 PM
Once a homeowner, always a homeowner—right? Turns out a significant number of millennials who have purchased houses actually miss answering to a landlord. So much so that a lot of them plan on returning to renting at some point within the new decade.
The news comes from a recently released LendingTree survey, in which more than 1,500 Americans revealed their sentiments around moving in the 2020s. The results prove that the grass is, in fact, greener on the other side: While nearly half of all current renters say they are looking to buy a home within the next two to five years, more than a quarter of people between the ages of 23 and 38 who currently own a home want to go back to renting.
The results are surprising, especially because the security and long-term financial benefits (aka tax incentives) that come with putting down roots often seem way more appealing than throwing money away on a place that earns you no equity. So why the shift? Our guess: All that upkeep is sparking regret. Fixing broken pipes, cleaning out gutters, maintaining a perfectly manicured lawn—these tasks require time and money. And there’s something particularly comforting about not having to be the one worrying about whether or not there are termites attacking your basement, even if that means writing a rent check every month.