1. Property can be a major tie down for this outwardly mobile generation
2. XY’ers are the new world order that are not linked to typical suburban mediocrity
3. Opportunity for international business employment is the new paradigm
4. Ease and low cost of international travel excite adventurous youth away from their parents and grandparents ideology that you live where somewhere close to parents
5. XY'ers don’t want and certainly are not looking for bondage to 25 year financial mortgages
Commentators, who hang on to bypassed concepts of property ownership being out of reach to younger people, are dwelling on old concepts of residential ownership as the only game in town.
In fact in many European and American societies, renting and long period residential property leases are the norm. It comes down to the modern concept of outward mobility. A typical New Zealand propensity for owning your own home at any cost could be very flawed. For instance, when West Coasters were made redundant after logging and mining crashes, they were caught in a double vise of having to leave their homes that often could never be sold and being still lumbered with expensive mortgages. They need mobility in a fragile economic environment yet had their feet were firmly stuck in the concrete of their decision to being geographically tied to a questionable future.
I am New Business Development Manager of RentWellington and we are witnessing a ground swell and sea change in younger people’s decisions who are financially independent and are making savvy decisions to rent. And so they should.
Business and world market economics are moving at Internet speed, demanding that mobility becomes the every day password to successful worker engagement.
At RentWellington our typical tenant is more often the upwardly mobile couple who rent for shorter fixed terms of a year or two. Gone are the days when a tenant lived in the same property for 10 years or in the case of state houses for generations at a time.
Many owners are also addressing this new demand by renovating and improving their properties to attract higher income tenants who demand much improved accommodation. So, while smart owners are attracting top rentals those landlords who still have scrim covered walls and worn out carpets are being sidelined to picking up the leftovers and all the problems that are evident with some tenants.
This emerging trend of quality properties being available for rent has expanded dramatically over the last five years. If your grown family has flown from your attractive four or five bedroom residence and you are thinking of selling, why not consider the option of creating a retirement income for your selves by employing a professional property manager to source quality tenants, maintain your property while you relax. Yes …. It makes good sense
If you would like to chat property, Id be happy to meet. Do call me direct on 0800 78 44 44, or our 24 hour reception on 0800 567 567