This is a sponsored post written by me on behalf of CORT. All opinions are 100% mine.
As one of the older millennials in my generation, I have often heard it said that our generation is a “lazy” generation, which is one of the reason we are said to be reluctant to buy homes. And while it’s true that many millennials wait a few years to invest in property, a recent article from CORT with Expert Tips for Decorating on a Budget and Outfitting Your Entire Home explains that the state of millennial home ownership is a lot different than you might think.
In fact, the National Association of Realtors’ (NAR) research shows that the generation is only delaying home ownership by approximately five years. A lot of it has to do with the job market that existed as each of us graduated from college. Older millennials, like myself, struggled to find jobs, which meant that our financial situation was less than ideal to buy. Younger millennials have found a better market.
That said, NAR found that millennials are the largest generation of home buyers for the fourth year in a row!
In my own experience, I have been a homeowner in some form since I was 21 years old, while my husband has owned homes since he was 19. Both of us have made home ownership a priority, and in our many years together, we have only had to rent for less than a year after an international move. We chose to rent so that we could get to know our new area before committing to a specific location.
The one thing that I do agree with is that a lot of millennials struggle to commit to furniture and decor. I now for us, because we have moved so much and to so many different types and sizes of home, we have had to update our furniture regularly through the years, spending unnecessary money that we would rather invest in ourselves and our kids.
I do believe that millennials like me prefer to spend money on experiences rather than “stuff.” Who would want to spend thousands on a sofa that we end up selling for $100 in a year or two when we could put that money toward a family road trip? I think there’s a lot to be said for renting furniture instead, allowing us to change up our aesthetic whenever we want without spending a lot of money all at once. That way, we get an idea of what we like and what works for us as our families grow and change.
In time, the investment may be worth it, but like those who choose to rent a home before buying, it is a process that involves a lot of thought.
At the end of the day, millennials are not lazy or reluctant… we just have different priorities than our older generations. And that includes making the most of our time and focusing less on what goods surround us.