With just 11% of millennials planning to take out a mortgage next year and most reliant on the bank of mum and dad, millennials are opting to live life outside of the city and purchase in quieter, more affordable locations. Currently, 26% of millennials are living at home with parents and 12% are living rent-free with mum, dad, friends or family when this generation is supposedly most likely to be using this time in their lives to live with friends or housemates.
Data has discovered that 64% of this generation believe that you get a better quality of life in the country and are believers in purchasing a property where there is a strong sense of community. There are now 20% more homes for sale in the capital due to this change in mindset. People have realised there are more meaningful things to life than earning money.
Fortitudo builds many developments in the suburbs Poole and Bournemouth, a peaceful location not only next to the seaside and the country but host to excellent transport links to London. Perfect if millennials wished to opt for rural life but still wanted to commute. All apartments can be bought in conjunction with Help to Buy, to take the pressure of having a large deposit. The government scheme will give you 20% of the purchase price, providing you have a 5% deposit.
To view Fortitudo’s developments visit fortitudoproperty.com.
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