Some may argue that dogs are better than humans. They’re (usually) cheaper, require less work and let you snuggle them for way longer. Turns out a lot of millennials agree. In a recent survey by Suntrust Mortgage on why millennials are buying homes, dogs were listed more often than marriage or children.
The people surveyed were between 18 and 36. They listed features such as a large fenced-in yard and dog-friendly neighborhood 33% of the time, just behind building equity (36%) and more living space (66%). Marriage came in at 25% and the birth of a child at 19%.
As more people move out of their cramped apartments and buy their first home, the need for more space for themselves and their furry friends is extremely important. For some people, owning a pet is a less daunting step in life than marriage or children, so it makes sense for it to be at the forefront of these young homebuyers’ minds.
Millennials make up 60% of the home buying market, which makes them a pretty attractive target market. Home builders better get to work on those large backyards and maybe even a dog house to court these pet-focused purchasers.