Traditional down payment? Ain’t nobody got time for that.
Millennials are hungrier than ever for practical success. That success may look like buying a starter home, getting married, getting that staple adult job or having children. But one thing is for certain: we’re stuck in the in-between. We’re the product of a generation who walked up hill both ways to work, and a generation who relies heavily on technology and practical learning. We spent more time learning about Russia, mathematical problems that didn’t even include numbers, and how to play Mary Had Little Lamb on a recorder than we did on practical education to set us up for the societal definition of success.
In the midst of paying off student loans, starting our careers, running a side hustle and trying to maintain a social life the idea of purchasing our first starter home looms in the back of our minds.
Trust me, I’ll be the first to tell you just how many gray hairs you can grow if you buy a house and get married within the same month… all while running a small business.
The common theme among millennials and the idea of home ownership is that it appears to be out of reach. How is it even possible to find the right home that addresses our need for affordability, flexibility, pet-friendliness, financial freedom all while being accessible? With the average price of a single family home here in Edmonton at a staggering $427,657 (Realtors Association of Edmonton, 2018) ,coming up with a down payment feels merely unattainable . This would be an appropriate time to use the term “hashtag stressed.”
Modular Homes are making home ownership accessible for Millenials.
I said modular, not mobile. The above home you’re looking at with that modern splash of color, white washed cabinets and durable flooring. Ya, that was built in a factory. So let me be clear when I say that Modular Housing is changing the game for us Millenials – here’s why you need to consider choosing modular.
Flexibility and customization is at the forefront of modular construction. You may be wondering how a factory built home can be customized. But, it’s because homes are factory built that customization is possible. In many cases you have the freedom to select things like back splash, flooring, cabinet profiles and colors, counter tops & more before your home hits the factory line. Choosing modular doesn’t mean you have to sacrifice your creative freedom and input. Believe me – I’ve seen some Pinterest worthy customization!
Affordability is a key concern when purchasing a home. What if I told you that you could own a detached single family home with a yard in a pet friendly community for under $200,000? Yep, it’s a thing, and it’s just minutes North of Edmonton, AB. I couldn’t believe it myself when this community came to fruition. It sounded too good to be true! I would be doing a disservice to my audience if I didn’t share this affordable home buying option near Edmonton.
Pet friendly properties are getting harder and harder to come by. As a dog mom of two wild animals (at least it feels like they’re wild some days), I can’t imagine trying to find a rental property to accept these two hooligans. Owning an affordable modular home gives you the comfort of knowing your pets are safe and secure. That community I mentioned above… ya, they’re pet friendly. I’ll do a happy dance for you!
Modern Design and functional living are at the forefront of modular construction. Let’s just say that Marie Kondo has nothing on the design considerations that are put into modular homes. With things like built-in storage, flexibility to add or remove cupboards and drawers and even some wiggle room with layout – your sanity is covered.
Your house becomes a home when you choose modular. Modular has the potential for you to realize your dream of owning you home sooner. You may be able to skip the renting stage and go straight into home ownership and building equity in your very own property. That’s “adulting” at it’s finest.
This all may sound too good to be true, and you may understandably have some reservations about choosing modular. Lets talk modular and debunk some of the myths.
Modular homes are not trailers
Gone are the days of associating modular homes with trailer parks. This simply is not the case. I’ve worked closely with a modular home builder for the past two years and can attest to the ever changing perception of modular construction. Home buyers are seeing as little as 60 days (in some cases) between purchase and delivery of their home. That is unheard of with traditional stick built properties.
Modular homes are simply built in a climate controlled factory with efficiencies that boast tremendous perks for the environment.
Just because modular homes are built in a factory does not mean they are cookie cutter. Factory built homes have construction efficiencies that are unparalleled in the industry. These efficiencies speed up construction time while significantly reducing waste. Builders know exactly what materials are needed for each home and a precise quantity. As Millenials, we are more conscious than ever about our impact on the environment. Why not take one step further towards reducing your carbon footprint by choosing to build modular? Hooray for being environmentally friendly!
You do not need to live in a rural community
It was once thought that you needed to live rural on a huge piece of land in order to own a modular home. But, that simply isn’t the case. You don’t need to live on a farm or acreage to own a modular home. Remember that community I talked about earlier? It’s just minutes North of Edmonton with ease of access to city amenities.
Us Millenials are in a funny stage.
Here we are, friends. We’re stuck between making real life decisions & investments and wanting to travel the world. We know that we’re a product of an impractical approach to real-life education. We lacked educational that would propel us into a life of building towards goals instead of feeling like we’ve taken 10 steps back every time we swipe our credit card. Oh, how our perception of the world would be so different if we learned things like: How to save up for your first down payment, why building credit is important as a young adult, how to save for retirement. how to not be forced to live off Ichiban noodles – you know?
But, regardless of your views and perceptions of the world, you have the power to make a choice. A choice that your future self will thank you for later when you have things like equity and assets and peace of mind knowing you’re working towards a bigger goal. Think outside the box and get creative on your journey to home ownership. Invest in yourself now – you aren’t getting any younger.