More millennials these days are holding off on buying homes because of rising prices and less inventory available.
Instead, some are finding perks in renting in buildings that offer many extras.
CBS News reports that millennials are leading the charge to rent rather than buy. In 2014, almost 72 percent of them decided to rent.
Millennials put a premium on lifestyle. It’s not just about the apartment and the furnishes, it’s actually about the community amenities and the social connectivity.
One Millennial told CBS News she moved into an apartment community which has a pool, fitness center, basketball court, outdoor spaces and an onsite doggie day care center.
It gave her the flexibility to work a lot and still have the ability to work out, have fun and be social.
The allure of amenities is appealing, but many millennials don’t want to rent forever.
A lot of millennials do want to buy a home, but there are a whole lot of hurdles they’re facing. They’re having a hard time qualifying for a mortgage, or even saving for a down payment. Renting, in general, gives them a lot of flexibility.
Many millennials are happy to keep renting for now.