What does the term millennial stand for? And why is there such a hype about it? Millennial is a term used to describe people who were born between the 1980s to 1990s. The limit might go a little above and beyond this range, as this is not a hard-core starting for millennials. We can go a bit over 5 years before and after that.
They are both blessed and cursed in some ways. On one hand, they have plenty of options and opportunities to score high in life, on the other hand, they do not have enough investments to reach the sky. This way they are limited in one manner or another. The rates of inflation and how the economic landscape is changing, are affecting the millennials the most.
Genx which is the ancestors of the millennials is the generation that was blessed with real estate investments. They were able to secure good investments in real estate because they had enough capital and enough opportunities. Not only were they able to secure good deals but their investments were long-lasting and rewarding.
This one is not a mass generalization. This hypothesis is very much alive in the case of millennials who do not own anything of their own and have no capacity for owning such things. So the point at hand is how are they going to invest in real estate and how the real estate industry can serve them.
What is the Current Financial Status of Millennials?
Millennials are people who are at this present moment either studying or doing jobs – hence making their careers one way or another. Most of them are either doing in-house or remote jobs or are serving the corporate world, building capital and revenue because they do not have the inheritance to sit back and relax.
Here are some of the common ways millennials are making money:
- Online Selling
- BPO Ventures
- IT Startups
- Online Arbitration
- Trading Businesses (Turning Dollars Into Rupees)
They do not prefer to get themselves associated with traditional outlets and rather outdated ways of corporate handling. They are a fan of robust ways of money making and like to become a part of things that matter. It is their bad luck that they are stuck in an economy that is not evolving and is subjected to failure and setbacks.
That is why saving money is a distant dream for them. From global recession to COVID-19 problems, everything is in a slump.
Here is how they can secure real estate investments in projects such as Royal Orchard Multan and many other projects:
Buy Low to Medium Cost – High-Interest Residential Apartments – On Installments
Vertical developments are the latest rage and that too for good reasons. This is mainly because these sort of adjustments take less space and allows enhanced metrics of efficiency and architecture. Now cities are not expanding horizontally because this expansion creates commute problems which are not sustainable in the long run. That is why millennials should opt for such sorts of apartments which are available in installments.
Developers are offering stunning payment plans that offer both affordability and ease. One such example is the Hateem City Multan payment plan. This sort of investment is the perfect fit for the millennials because it does not require a substantial amount of money and also comes with the option of added land appreciation.
Buy Townhouses – Compact Living
Another great option for millennials to secure a good real estate project is buying townhouses. Townhouses are a rather novel real estate project but one that offers community engagement because it is built on the prospects of community living.
These are usually composed of three buildings which are stacked together to provide more space and offer a better lifestyle in the process. As millennials are still finding their footing in the financial world, it is better for them to invest in such places. But there is one issue with this one, as the amount of townhouses is less, the rental value might be jarring for people.
Buy Small Commercial Units – Smart Installment Plans
Another area that can turn out to be a great investment venture for millennials is investing in commercial units. Commercial units are real estate establishments that offer great economic potential. Not only are these sorts of projects less expensive but also offer great returns once the investment is done.
Some of the best venues for such investments are as follows:
- Roman grove Islamabad
- RJ’s Square Islamabad
- Boulevard Heights Multan
- Lahore Smart City
The Bottom Line!
As a millennial, it is very tough to exist in a country and time that is fighting a lot of battles. Securing a real estate investment is also tough. That is why make sure to try the aforementioned tips.