This April 2023 article cites Zonda’s sixth annual millennial survey, reported by Zonda chief economist Ali Wolf as a national survey of more than 1,000 respondents. In her March 21, 2023 coverage, Ali Wolf reported: “98% of millennials want to become a homeowner at some point if they aren’t already.” It is historical national survey context, not a measure of current Telluride demand or an outcome for an individual buyer. The graph below remains attributed to the published Zonda survey coverage.
This graph reports reasons respondents gave in Zonda’s sixth annual millennial survey. The listed reasons include building equity, a change in life stage, stability, past home-value experience, and wanting a place of one’s own. These motivations are not forecasts of prices, equity, or local market conditions.
Building equity – Some survey respondents identified equity as a motivation. Equity, ownership costs, financing, rent alternatives, and resale results vary; owning a home does not guarantee wealth, net-worth growth, or financial stability.
A change in life stage – A change in household needs may lead you to consider more space or a different location.
Stability or settling down – This could mean establishing your career or just generally deciding more concretely what you want your life to look and feel like. As that idea becomes clearer, you may want to establish that lifestyle in a particular place and put down roots.
Past home-value experience – Respondents identified rising home values as a motivation. Property values can rise or fall, and a future resale value is not assured.
Wanting to make somewhere “mine” – The survey identified having a place of one’s own as a motivation. If you plan alterations, check the property’s applicable rules, approvals, and costs before deciding to buy.
If these historic survey motivations resonate with you, use current local listings, closed comparables, financing information, ownership costs, and personal plans to evaluate a purchase. Mountain Rose Realty can provide property-specific real-estate information for Telluride; a home or financial outcome is not assured.