More Millennials Consider Dogs in Their Home-Buying Decision
There are many people in the world who love dogs, but you can't always include landlords on that list. While a landlord may love their own dog, they're typically less enthusiastic about the four-legged friends of their tenants. Combine that with the fact that dog owners love giving their pets room to roam the outdoors, and you can see one of the hidden motivations that inspire many renters to purchase a house of their own. So in a way, home-buying really is going to the dogs, and that's not a bad thing!
Our REALTORS® have the details on this growing trend, along with other key reasons buyers choose to purchase a home for the first time.
Motivations for Owning a Home
It's no surprise that house hunters consider their dog when shopping for Dallas homes for sale. In fact, a third of Americans from the Millennial generation has stated that a better space/yard for their dog was an important motivating factor in choosing to purchase a home for the first time. A great space for their four-legged friends is one of the motivators which influence young home buyers:
- A Home with a Yard – Whether it provides space for your pet, a fun place for outdoor parties, or simply a beautiful view while you're eating dinner, owning a home with a yard comes with many perks. Many renters are motivated to buy in order to have an outdoor space of their own which they can customize to their heart's content. Want an outdoor barbecue area, a dog-run, or both? With a yard of your own, you can set up your outdoor space any way you please.
- Tying the Knot – For many young homeowners, getting married was the moment when they decided to get serious about purchasing a home and saying goodbye to rental agreements. The idea of "settling down" means different things to different people, but there's no doubt that owning a home makes it easier to pursue long-term goals. With two people to save, budget, and shop, tying the knot can also make it easier to navigate the real estate market for the first time.
- Starting a Family – While many newly married couples do choose to buy a home, there are also those who keep on renting... until they add a new member to the family. Having a child has always been a major motivator for owning a home, and for good reason. A home will often offer much more space than an apartment for a family, including outdoors. Owning a home also gives you the opportunity to get a head start on choosing a school district where your child can thrive.
- Building Equity – For some young buyers, owning a home is one important step on the path to financial planning. A home allows you to build equity over time, maintain a great credit score, and invest in your future. Planning your purchase well – and considering the future of the neighborhood – can also allow you to recoup a great return on your investment if you ever do choose to sell. Starting young has many benefits, allowing you to get a head start on your financial future.
- Room to Grow – Renting a property has its perks, but one of the main drawbacks is that it will never truly be yours. Owning a home is the opposite. Rather than seeking approval for every little thing, you can customize the home as you see fit. Whether you want to paint the walls or renovate the whole room, the choice is yours. Owning a home also provides you with plenty of room to grow, whether that means expanding the home or simply updating it until everything is just right. Home-buyers of all ages love the freedom that comes with owning the space that they call home.
Looking for the perfect DFW home for you, your family, and your favorite pets? We can help! Contact us to buy and sell homes throughout the Dallas, TX area.