ORLANDO—Most Millennials are still flocking to multifamily communities. But the reasons may be different than you think—and all Millennials aren't in the multifamily mindset.

GlobeSt.com caught up with Bob Kanjian, sales manager of AV Homes, to discuss this topic in part three of our exclusive interview. You can still read parts one and two: What Millennials Really Want In Single-Family Homes and How Millennials Wants Are Different Than Boomers.

GlobeSt.com: Why aren't more Millennials currently buying their home now?

Kanjian: The mindset has definitely shifted about homebuying from the older generations to the Millennials. Recent graduates are experiencing high student loan debt that's forcing them to put off purchasing a home right away.

The Millennials have also lived through a changing marketplace over the past few years, and they've seen the dramatic housing bubble come and go. The older generations never witnessed that, as the housing market had always been on an even keel or a steady rise for decades.

It's important to note now that there's no reason to believe that the market won't continue to move at a decent pace, and couple that with a tax deduction it's a great move. Also, since the market is fluid, Millennials can always sell fairly easily if they need to change locations for jobs or whatever reason.

Millennials should search for homes in locations with a strong job market, if possible. For example, AV Homes' communities in Jacksonville are fantastic choices for this generation because there's a lot of new business and entrepreneurial growth in the area with quick commutes to the downtown area.

GlobeSt.com: What advice do you have for Millennials on the fence about purchasing a home?

Kanjian: You always hear people discuss home ownership as a ladder. However, I don't view homeownership as a ladder, instead, it's an escalator. Once you step onto an escalator, you can stand still, yet move forward.

It's the same thing as the home market. Once you step into the home-buying game, you can then stand still yet move forward.

So, my advice would be to get on that escalator quicker. As the market goes up, even if you're standing still, you're going up with it.

ORLANDO—Most Millennials are still flocking to multifamily communities. But the reasons may be different than you think—and all Millennials aren't in the multifamily mindset.

GlobeSt.com: Why aren't more Millennials currently buying their home now?

GlobeSt.com: What advice do you have for Millennials on the fence about purchasing a home?

It's the same thing as the home market. Once you step into the home-buying game, you can then stand still yet move forward.

So, my advice would be to get on that escalator quicker. As the market goes up, even if you're standing still, you're going up with it.

Instant Insights /

The Real Reasons More Millennials Aren't Buying

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