Gen Z have made a name for themselves by questioning the established systems previous generations have accepted as the norm. But, they do more than cast shade at their predecessors. They demand better. And with Gen Z’s purchasing power expected to grow exponentially over the next decade, marketing, political and entertainment sectors alike are paying attention.
Gen Z is shifting their focus to industries like real estate. But while they want to own a home, like the millennials before them, the cost of entry is too high. But they are finding a way and at the same time revolutionizing real-estate investing
As millennials struggle with a wage gap that’s made home buying in its traditional sense, unattainable. Gen Z is marking their fate by redefining homeownership. Instead of purchasing a home to live in, they’re leveraging crowdfunding and the sharing economy to take ownership in houses, buildings and even commercial properties. They’ve realized being a homeowner doesn’t mean they have to live where they’ve invested. In fact, there are advantages to not going all-in on one property.
Breaking with tradition
Traditional homeownership, makes the the process stressful, drawn-out and brings along heaps of responsibilities like mortgage payments, property tax, maintenance and insurance. But, by not living where they invest, Gen Z is realizing the benefits of a lucrative long-term investment without giving up the freedoms they enjoy now. They get the capital appreciation while someone else deals with landlord responsibilities.
Realizing real-estate investing is no longer reserved for the wealthy, Zoomers are bringing the market out from behind locked doors and into the community. The pandemic helped spark new interest in investing. Confined to their homes and concerned about their future, young investors took to their devices to educate themselves and make their money work for them.
Zoomers are building online communities and using their influence to educate their peers on what they learn, allowing Gen Z to ask questions in a way they’re comfortable with, engaging on their own terms.
The power of tech
Ever-mindful of the power of tech to disrupt how things have traditionally been done, they are using the internet to democratize investing and bring their peers into the fold. Transparency is the priority and authority takes a backseat to the community.
Under Gen Z’s influence, exclusivity is out; inclusive investing is in, wanting everything from their employers to their purchases to reflect their. Instead of thinking of how their purchases can benefit themselves, they’re looking at how they can benefit others and the world around them. Consumption is being redefined as an act of activism, changing the world through purchase power.
Thanks to the cultural shift demanded by Gen Z, the path to property ownership is due for a makeover. If we follow their lead, we can look towards a future where ownership is possible for anyone who feels compelled to invest in their community.
Resonance in Costa Rica: the ideal real estate investment for Gen Z
Have you been dreaming of working online while enjoying a tropical paradise? Do you embody a lifestyle of conscious living and are looking for similar minds and hearts to share your dreams? We offer co-working locations for our community members.
Our Ethos is simple. Less environmental waste, more personal growth. Resonance is uniting a conscious community of Digital Nomads, Entrepreneurs, Healers, Nature Lovers and Alternative Thinkers. All set on making this world a brighter place to live.
3 different projects are being developed. Resonance Retreat Center & Residences, CoFarming Neighborhood and Resonance Experiential Park & Venue.
Join Us In Resonance. Costa Rica is calling you home? Our incredible retreat center is located 1.5 hours from San Jose airport, next to Hermosa Beach, Jaco. We are located in the mountains with a 270-degree view of the ocean from the infinity pool. For more information visit: https://resonancecr.com/