Millennials Buying Luxury Real Estate

by Barry Estates
September 15, 2014
Category:   News

In recent years several factors have made it possible for Millennials to skip the condo phase and jump right into luxury real estate. One example is Matt Winter, a young entrepreneur with an interior design firm, who bought his first million-dollar-home at the ripe young age of 26.

Photo of Matt and Wife from wsj.com

Photo of Matt Winter and Wife, Tara, Copywright WSJ.com

Now, at 28, Matt purchased his second California luxury home for 1.7 million. He states that he feels real estate is a safer investment than stocks, and he would rather put his money there.

This is true for many millennials, having entered the job force during a market correction. Matt and his peers are understanding the value of investment properties from a young age.

Michael Rankin, real estate agent with TTR Sotheby’s International Realty in Washington, D.C, states that in the last two months “half the folks [he] sold homes to were young entrepreneurial types – and they were all buying homes for over a million dollars.”

Read more here.

Article by: Barry Estates

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