What's up with Millennials?
We keep hearing a ton of buzz about Millennials, whether it be in politics, startups, activism, it’s a group closely monitored by economic professionals. As someone who is in this generation and newly married… we felt it was time to “grow up” a bit and began focusing on homeownership.
It's a Balancing Act
Our generation is not only balancing high rents in San Diego, but most of us have high debt (student loans or otherwise) pretty much making it almost impossible to save. What I have seen as a result is the inevitable adjustment of expectations. We, as a generation, tend to put a lot of pressure on ourselves. We must do more, be the best, enjoy life the most while also succeeding the fastest.
The Reality of It
Honestly, it’s pretty exhausting! What my husband and I realized was, the dream of owning a stand-alone house next to the beach was not only insanely expensive, but we would have to make tons of compromises to the lifestyle we just weren’t ready to make. Ok, let’s call it what it is, we didn’t want to be house poor! We did what many have done in our shoes, we had a reality check.
A Happy Ending
This story has a happy ending, I promise. The solution: adjust the location! We found that we would get everything on our list plus not feel like we were drowning financially if only we looked...less west. We purchased a house in the suburbs and absolutely love it.
The Benefits of Being Flexible
Yes, we are still paying off student loans like the rest, but we are also getting a tax write off, a lovely yard and plenty of room to grow. The funny thing is, we thought we’d be the outliers which is definitely not the case at all. Not only have recent articles documented this trend, but we are literal witnesses to this as we join the other millennials in walking our small fluffy dogs down the cul-de-sac.
Moving to the 'Burbs
When I first mentioned the word “suburbs” to my husband, he did not have a pleasant reaction but when he saw what I meant, he realized it's not what he thought. There are tons of suburban “pockets” just outside the congested metro areas that in some cases are still even inside the city. I am seeing a big increase in activity in these areas piquing the interest of millennials and investors alike. San Diego is pretty straightforward in terms of geography.
You can’t go south or you’re in Mexico, you can’t go west or you’re facing million dollar prices, but you can go “less west” and purchase a home for I-kid-you-not less than half those prices and still be ten minutes away from everything. I am not going to lie, we were sad to pack up our bachelor and bachelorette pads.
He lived in a beach bungalow and I lived in a trendy downtown loft. Ultimately we realized that by making this move to the suburbs, we have everything we wanted and never thought we could afford. Turns out you can, just not where you were looking.
Carolina Houston l Realtor®
Dwell Well Realty l San Diego | CA DRE 02045282
T: 619.400.7276 l E: Carolina@DwellWellCA.com