Millennials are asking; Is not a good time to buy a bigger home?
All eyes are on millennials in the Cayman Islands real estate housing market. Those are the people who are currently between 25 to 40 years old. Usually, when there are more children in the family, they need space for toy rooms, additional bedrooms and bathrooms. This period of their lives is often considered prime homebuying years when many people begin to invest in real estate. Our homes have become our workspace and living space since COVID; I am sure there are many discussions, either how to make your current residence work for your family or with more space, upgraded features or selling and buying your dream home.
If you already own a home, there is an excellent opportunity to upgrade in 2022 if you need more space. “Older millennials will be able to buy bigger and better as they have owned their first homes a long time to see healthy equity gains,” says Heidi Kiss, Broker/Owner of Engel & Volkers Cayman Islands.
family moving day in Cayman
Even if you bought a property sometime in the last five years, I am sure you will have more equity than expected. Give a trusted full-time Realtor a call, and we can help you interpret the real estate market in Cayman. We have experienced the most significant average equity gain in real estate since early 2014.
If you are considering moving this year or next, join the others upgrading to other properties. Contact a local real estate professional at Engel & Volkers Real Estate in Cayman to explore your next real estate transaction.
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