33 percent of 412 millennials recently surveyed listed their pet as their top homebuying motivation. 25 percent listed marriage. 19 percent listed the birth of a child.
In fact, the survey claims that for millennial homebuyers, making a happy home for their pet ranked only behind “the desire for more overall living space (66 percent) and the opportunity to build equity (36 percent)”. Forty-two percent of millennial prospective homeowners say their dog—or their desire to adopt one—is a key factor in their desire to purchase a home in the future, according to the survey.
What does this tell us about millennials? Can we file this under “those crazy mixed-up kids”? Or under “sometimes it’s easier to find the right pet than Mr. or Ms. Right”? As millennials defer marriage, a pet can make a good companion.
Pet-lovers of all generations make up a surprisingly sizeable chunk of homebuyers, but the pet-friendly features they value have broader benefits. A fenced yard and laminate flooring will come in handy if kids arrive. The popularity of animal amenities such as walking paths and dog parks, and access to pet supplies and services, shows the importance many homebuyers place on convenience in general: public infrastructure, and nearby shopping and services.
Markets quake when this little guy speaks.
Pet-owning renters face challenges finding a home, which may be one reason 95 percent of consumers “believe it is important that a housing community allow animals”. 10,000 years after pets were domesticated, they have most of us eating out of the palm of their paw.
copyright © John Fyten 2017