Modular Homes Could Be The Answer For Miami’s Millennial Homebuyers
Say what you want about what millennials are and aren’t, but when it comes to real estate the fact is they’re not buying houses. Especially not in Miami Beach, where a desirable used home averages around $800,000. But modular homes could present a solution to that problem, experts say. More and more millennials are finding the option to build your own home irresistible.
This generation is excited to start their lives in a gorgeous city like Miami Beach, but aren’t able—or, sometimes, willing—to drop a chunk of cash on a new or even used home. Research shows that millennials are spending their money on exotic trips, classes and seminars to better themselves, adventures, experiences, and travel. This generation would rather spend their paycheck on a quick trip to Vegas with friends than save it, invest in stocks, or buy luxury real estate. At the same time, they want to be in a city where it’s all happening and where they have the opportunity to experience life with passion. But they aren’t ready to invest all of their money in a piece of property that will keep them tied down to one location.
But one home-buying option may change all that. Modular homes are taking off in the Miami area, and Urban Infill is offering a way to help millennials purchase luxury property in highly sought-after places like Miami Beach. And they don’t have to spend the next half of their lives paying off a ridiculous mortgage to do it. Brand new modular homes are selling in the most desirable parts of Miami starting at around $550,000. This means buyers could find a modular home in Brickell, Coconut Grove, and Coral Gables for hundreds of thousands of dollars less than the decades-old homes they’ve been looking at before.
Modular homes are houses built in one off-site location and then moved to a more permanent one. Because of this unique system, construction is done considerably faster, allowing homebuyers to get into their new home and on with their lives faster than ever before. These homes give millennial homebuyers the opportunity to customize a home that makes sense for them, giving them more power and control in the home buying process.
Men and women in their 20s and 30s lead busy, active, and extremely social lives. So it makes sense that they want to live in and around areas where they can meet new people, try new restaurants, and experience new things. They want to be able to wake up and hit the beach first thing in the morning, take a surf lesson on a Saturday, have brunch with friends, visit museums, walk through art galleries, go dancing, and wine tasting and do yoga on the beach. They need to live in a place that flows with their active lifestyle and allows them to work and play in a place that is as unique and ever-changing as they are.
That’s why debuting modular homes in the most popular cities in Miami is a game-changer for the real estate industry. These customizable homes—placed smack in the middle of Miami’s most vibrant neighborhoods, significantly less expensive than traditional homes, constructed in almost half the time—are a huge draw for millennial homebuyers.
Millennials are a unique and important generation, and modular homes could be exactly what they are looking for when it comes to real estate and their busy lives. Urban Infill is a great place to start investigating modular home options in Miami.