Aside from starting a family and purchasing your first car, receiving the key to your dream home is a huge fulfillment for any individual. Though in recent years, owning a house seems to be a foreign and unattainable concept. This especially rings true in the U.S., where “home ownership has dipped to 63.5 percent, near a 48-year low,” according to the Chicago Tribune.
The cause for the decline in homeownership points to the rise in the price of property, as well as today’s low pay in terms of entry-level salaries hence why many young professionals are worried about committing to buy their first property. Millennials, in particular, have it hard because aside from making do with weak starting incomes, they have to deal with huge amounts of college debt.
Since owning a house is a lot more difficult today than it was a decade ago, a large number of millennials see the appeal in renting. CNBC reported in a recent article that “in 2016, 65% percent of households headed by young adults were renting, up 8 percentage points from 2006.”
Renting a house or an apartment is a cheaper excuse to move out of your parents’ homes and live on your own as a fully-fledged adult. Yet it also comes with several drawbacks.
Renters are essentially at the mercy of their landlords, so it can be a major problem if the owner is difficult to deal with in the first place. Another pitfall is the fact that those who share rooms have to sacrifice privacy. This, of course, leaves your assigned space exposed to your housemates and their visitors. This is why we stressed the importance of having renters’ insurance in our article ‘How to Protect Your Stuff’.
Most of all, occupants have to deal with the furnishings provided by the owners. It’s all well and good if your furnished apartment suits your living preferences, but this isn’t always the case. Since only a handful of people starting out are blessed with a variety of renting choices, the rest of us tolerate dull-looking rooms.
Due to the increasing demands in the workplace and meager pay, millennials essentially look for a place to stay the night in rather than a place to live in. Millennials spend most of their time working long hours away from home to earn extra money.
What’s concerning is that even though they work long hours, many young adults experience sleep deprivation or insomnia. Forbes stated that only 29% of millennials get sufficient sleep. Several aspects are to blame: money troubles, loneliness, stress from work and commuting hours. But it could also be attributed to something much more subtle like your bedroom not being a conducive environment to rest in.
A blog post by Leesa notes that the colors of your walls play a factor in your quality of sleep. For example, walls painted in shades of red evoke a sense of passion and energy, while blue walls bring an aura of calmness to your bedroom. Comparing the two, the latter hue is ideal for the bedroom, and will undoubtedly help you to relax at night.
Going for a rented home leaves you with little control over your living environment. The best compromise for a working millennial is to at least figure out solutions to improve the sleeping conditions. With a lack of sleep eliminated from the list, it will be easier to deal with the rest of your life.