When people are looking at buying a house, there are a number of factors to consider. One of the most important is making sure there is enough room for everyone. While this means thinking about children, millennials are also thinking about buying homes to take care of their dogs! There is a saying that dogs are a man’s best friend. Therefore, people need to make sure that they take care of their pets. Keeping a dog in an apartment can be a significant challenge. Dogs don’t like being trapped in confined spaces and it can be a hassle to take dogs out to use the bathroom. For this reason, many millennials are looking at moving out of a multifamily dwelling and into a house to provide their dogs with a backyard.
Banks are starting to take note of this trend as well. Everyone should have a strong bond with their pets as they are often seen as members of the family; however, millennials appear to have stronger bonds than prior generations. Generations in the past would never have factored a dog into such a major financial decision; however, millennials are doing exactly that. Renting can be expensive and a hassle. This is taken to new heights when there is a dog involved. Therefore, it is better for everyone, including the owner, if they move into a house instead.
This is coupled with a housing market that continues to favor buyers. The interest rates on a mortgage continue to persist near record lows. For millennials that might have a significant amount of student loan debt, this is a major incentive. The ability to purchase a home and possibly refinance student loans at the same time can be an attractive option. This is only encouraging millennials to buy homes more quickly rather than delay this purchase for the future.
As millennials continue to look for ways to improve the quality of life of their furry friends, buying houses is only one of the numerous examples. Other services, such as Stop That Dog, are catered to improving the qualities of lives everywhere. It is clear that dogs play an important role in the lives of millennials. When it comes to the home buying process, dogs might play a bigger role than any human counterpart.
As millennials continue to move forward with their lives, it will be interesting to see how this generation continues to evolve. Dogs play an important role in the lives of countless individuals and families. Now, it appears that they are even playing a role in the homebuying process. Clearly, these furry friends are referred to as man’s best friend for a very good reason.