The COVID-19 pandemic has changed the world in many surprising ways. You’re seeing a lot of people work remotely now due to the circumstances and millennials are a big part of that trend. You see, millennials are very qualified to work remotely because they have the right experience and training to work using computers. This ability to work remotely is also changing the way that they look at real estate.
Breaking Leases
If you don’t need to be in a specific location to work at your job any longer, then why are you staying in one place? This is a question that some millennials are asking themselves at the moment. You might see a trend of more millennials breaking their leases in favor of traveling around. This might seem strange at first but it can be very freeing to be able to not feel shackled to an apartment or house any longer.
Traveling
Traveling certainly appeals to millennials and it isn’t unusual for millennials to want to travel while working. You can definitely argue that traveling isn’t wise during the pandemic but that doesn’t necessarily stop some people. Traveling and living in an RV or a large van instead of a home is possible. Some millennials choose to live this way and enjoy road trips as they keep on working remotely.
You’ll even find people spending cash on nice AirBnB rentals instead of renting an apartment. They could work remotely from some unique location that they have always wanted to visit. Once they’ve had fun exploring that area, they’re able to move on to do something else. This might seem as if it is a chaotic way of living to some but there are portions of the millennial and Gen Z population that will like this.
Will Millennials Return to Homes?
Will millennials return to wanting to rent or buy homes in the near future? Time will tell and it’ll have a lot to do with how things shake out with the pandemic. Economic uncertainty could keep some people from wanting to commit to things such as mortgages or apartment leases. However, it’s unlikely that most millennials would want to simply travel forever.