There’s an idea running through marketing and business circles that anything that is popular, the opposite will likely be popular as well.
Consider that sugar and caffeinated beverages such as Coca-Cola have seemingly opposite products like Coke Zero. That product, in turn, is offset in the marketplace by high-sugar, high-caffeine energy drinks such as Monster and Red Bull.
In the housing industry, reverse living homes enjoy popularity. Basically, the bedrooms are downstairs while the kitchen, living room and other gathering spaces are upstairs. This concept of doing the opposite brings us to the idea about buying a first home.
The vast majority of potential buyers focus on starter homes as they build financial success. Some think about how that first home could be expanded to grow a family or sold when marriage and young ones come along. But Millennials enter the housing market may want to consider doing the opposite. What if you bought your last home first?
Consider these reasons for starting with your retirement home.
1: Lifestyle Suits Renting First
Millennials are flooding the job market and beginning to earn wages that prompt them to make major life purchases. But Millennial jobs tend to be different from the traditional ones of previous generations. Tech companies are trending in hip cities across the country and places with excellent weather. That means these first-time home buyers would either find themselves commuting through rush-hour traffic from the suburbs or paying urban real estate prices. Young Millennials may be better off renting and investing in property elsewhere.
2: Rent Out Your First Home
By taking your initial down payment and investing in a rental property, Millennials can make money or maintain a zero-expense real estate buy.
By purchasing your future retirement home in a vibrant community with a relaxed environment, it can pay for itself while strengthening your economic portfolio. The equity building in that first property will position you for a second home to live near work or build a family. That retirement rental may even put a few extra dollars in your pocket.
3: Pursuing Career Opportunities
Whether you are fresh out off college, completed military service or rising in a compan