Top Five Things 2020 Graduates Want in Housing
The college class of 2020 is moving into a different reality. The same coronavirus crisis which ended the school semester earlier than expected has changed the world as they knew it, including the real estate market. Now, as these new college grads head out into the professional world, they dream of living somewhere with the following criteria.
Affordable Housing
Most college graduates will continue to pay student loans even years after graduating, making affordable housing a must. A home’s affordability depends on how much the individual earns and how much of it can go into housing. Senator Elizabeth Warren popularized the 50/30/20 strategy, which suggests that no more than 50% of a person’s income should go into mandatory expenses. Whether renting or buying, a new home must be budget-friendly—considering the cost of home or renter’s insurance, utilities, monthly rent or mortgage checks and property taxes. A reasonably priced place will allow the owner or renter to still save up while meeting his payments.
Safe Neighborhoods
No one wants to live in a crime-ridden area, especially single young people with no homeowner experience. Having faced the repercussions of the recent riots and protests all around the country, college graduates are looking for spaces they can afford and still feel secure from robbery and violence. Several websites and crime mapping services are great tools to determine an area’s security. Living in a safe neighborhood brings both guaranteed protection of assets and peace of mind.
Public Transportation
Most college graduates can not afford a car of their own or the extra costs that come with it. Public transport offers a timely and reliable source for the young professional. From buses to trains to city bikes, the low-cost options abound.
Pedestrian-friendly Places
Similarly, recent graduates look for cities where they can commute on foot from home to work. This helps them save up on gas and car maintenance, in addition to lowering the famous carbon footprint. A pedestrian-friendly place promotes community, exercise and safety.
Corona-free Zones
Finding themselves finishing classes online, college graduates are sick of the coronavirus. With a few cities around the nation still highly affected by the pandemic, the idea of moving into metropolitan areas has subsided. But the American economy is reopening, and with it the country itself. The Center for Disease Control and Prevention’s COVID Tracker can help young house-hunters discover where to move next.
