Some people think of renting as a temporary condition, but communities large and small are turning to build-to-rent as a valuable, long-term solution that can meet rising demand for housing.
Economic and demographic trends mean fewer young people expect to own their own homes, compared with earlier generations, and some who do are putting it off until later in life. Many among the younger generation are choosing to stay in the rental market even as their incomes trend upward. This growing segment is looking to start families, or move into the next phase of their lives, but prohibitive cost and risk make ownership unappealing.
Build-to-rent neighborhoods have become an attractive solution that architects, builders, and developers can use to introduce greater market segmentation.
Units offering the single-family lifestyle are quickly gaining popularity among people choosing to rent. These residents want a different standard of living that offers more privacy, individual backyards, pet-friendly features, extra storage, secure parking, and an easier move-in/out process. Private home features are more important to this kind of resident than title and deed.
Build-to-rent, however, does suffer from stereotypes.Read More