The costs of living in the city are steadily increasing. Although most young professionals can manage these costs given their smaller household sizes and limited financial responsibilities, most are migrating back to the comfort and familiarity of the suburbs instead. Here, they’ll have easy access to shopping, fitness clubs and many of the amenities their parents enjoyed. They’ll also have far more manageable budgets.
Commuting Costs Are Less of a Concern
The drive to find condos in Irvine right near the bustling business district was largely motivated by soaring gas prices and a need to be physically present in the office every morning. With the recent dip in fuel costs and an increasing ability to work remotely, young professionals are far less concerned with the cost of commuting. Telecommuting and flex hours have also helped to limit the amount of freeway time that suburban dwellers are required to endure each week.
Frugal Living and An Eye on Long-Term Goals
Millennials are believed to be far more informed than any of the generations before them. This has lead to an increasingly frugal generation that is less concerned with immediate gratification and highly focused on long-term goals. Millennials are finding that they can buy their own Irvine homes for sale in suburban areas rather than renting high-end condos downtown. They also know that these properties are large enough and flexible enough to support any future growth that occurs in their households.
Fewer Safety Concerns
The suburbs are statistically safer than most inner-city neighborhoods. This gives buyers access to lower car insurance rates, lower home insurance premiums, and far greater peace of mind. Best of all, they can enjoy this added security while still having access to many of the same shopping and dining options that are available in downtown areas.
The Ability to Invest in New Properties
New homes have always held a far greater appeal for buyers than previously-owned properties. By opting to live in the suburbs, young, first-time homebuyers can take advantage of some of the latest property developments and can even customize their purchases. Ultimately, these buyers are finding that the suburbs are the best place to make their earnings go further. Maybe you’re thinking of moving back to the ‘burbs because you and your significant other are planning to start a family, or maybe you’re simply looking to rein in your budget. Whatever the reason, we can help you find the right Irvine house for sale for your changing priorities. Check out our current inventory and give us a call at (714) 454-6304 to schedule a showing!