The Millennial Housing Dilemma
My name is Mike Benkert, I am an Architect, a Millennial, and like many others in my generation, I am in the process of entering the home buying market for the first time, looking for that perfect 'Starter Home'.
A Starter Home, which is the first house a person or family can afford to purchase, is typically an older home in an established neighborhood, and sometimes, a new home in a low-cost land development in the outermost suburbs of a city. Unfortunately, neither of these options are ideal for Millennials seeking contemporary, affordable residences in walkable neighborhoods close to jobs and entertainment. Hence, the Millennial Housing Dilemma this generation now faces.
- The Millennial Housing Dilemma
- Do I buy an affordable old house in a walkable neighborhood that lacks the amenities, energy efficiency, and durability of a newly constructed home?
- Do I buy an affordable new house in an isolated outer suburb that is highly car-dependent and lacks convenient access to jobs and entertainment?
- Is there another option? A Starter Home 2.0 option?
The Starter Home 2.0 Project
Frustrated with the current Starter Home options available, I made the decision in 2013 to undertake what I call the 'Starter Home 2.0' project, which aims to offer contemporary, affordable residences in the context of established walkable neighborhoods, close to jobs and entertainment. The first of these Starter Home 2.0 houses, which I will own and occupy, is starting construction this Spring, and the aim of this blog is to document that project's process and progress, and to share additional thoughts and insights regarding this Starter Home 2.0 concept. I hope readers enjoy following this blog as it develops and please feel free to post any thoughts or questions in the comments section and I will try my best to respond.