Increasing numbers of Millennials are purchasing properties... primarily for their canine companions
Millennials Prioritizing Pet-Friendly Homes for Comfortable Living
In a growing trend, millennials are buying homes specifically designed to cater to their pets' needs, viewing them as integral members of their families. This shift in housing priorities is particularly noticeable among older millennials (ages 30 to 39), with 75% of them owning dogs.
Shannon Quinn Lewis, a millennial from Atlanta, is one such example. Along with her husband, Shannon moved from a 250-square-foot (23-square-meter) yard to a half-acre (.2 hectare) greenspace, providing ample room for their dogs to play and exercise. The move was driven by the desire to enhance the quality of life for both Shannon, her husband, and their dogs.
Amber, another 30-something millennial, embarked on a six-week search for a home that met specific criteria. A real estate agent named Slocum eventually found Amber a four-bedroom ranch house with a huge yard and privacy fence, perfect for her dogs, one of whom has hip issues and can't navigate steps easily.
This prioritization of pets' needs is evident in various aspects of millennial home-buying decisions. Studies show that seven in ten male millennials and three in five female millennials now own dogs. Millennials are increasingly treating their pets as family members, prioritizing their comfort above other considerations.
Outdoor space is a significant factor in this decision. A fenced yard or a yard in general is highly desired to provide safe outdoor areas where dogs can run and play freely. The emotional connection millennials share with their pets also plays a role in their lifestyle choices. They are willing to invest in homes that accommodate their furry companions' well-being.
This trend reflects how millennials view pets as central to their households. As a result, home purchases are being made with the primary aim of enhancing the quality of life for both owners and their animals.
In 2015, 31% of millennials owned homes according to Harvard's Joint Center for Housing Studies' Improving America's Housing 2017 study. This figure is expected to rise as more millennials prioritize pet-friendly homes in their housing decisions.
A survey released in late July 2017 by Harris Poll and SunTrust Mortgage found that 33% of millennials who purchased their first home did so for their furry friends. This number underscores the growing importance of pets in millennial home-buying decisions.
Shannon Quinn Lewis, an avid volunteer and foster with Atlanta's Angels Among Us Pet Rescue, currently has 10 dogs of her own and was fostering three at the time of moving. Her commitment to her pets and their well-being is evident in her home-buying decision.
Research has shown that children who grow up in homes with dogs are less likely to have allergies and be obese, due to higher levels of "gut microbes" from the exposure to dogs. This further emphasizes the importance of pet-friendly homes in promoting a healthy lifestyle.
As the largest generation in U.S. history, millennials are making their mark on the housing market. Their unique priorities, such as the need for pet-friendly spaces, are shaping the future of home-buying decisions. In 2016, Americans spent $66.75 billion on pet-related expenses, a testament to the significant role pets play in millennial households.
- Shannon Quinn Lewis, with her commitment to her pets' well-being, prioritized a home with a larger outdoor space, moving from a small yard to a half-acre greenspace, reflecting the trend among millennials who view their pets as integral family members.
- In line with this trend, millennials are increasingly treating their pets as family members, prioritizing homes with outdoor spaces like fenced yards, as evident in Amber's search for a four-bedroom ranch house with a huge yard and privacy fence, catering to her dogs' needs.
- The growing importance of pets in millennial home-buying decisions is further highlighted by a survey that found 33% of first-time millennial home buyers made their purchase for their furry friends, showcasing the significance of pet-friendly homes in millennial lifestyle choices.
