A local realtor is on-side with a recent report stating Prince George as one of the top 40 affordable markets for Millennials when investing in a home.
According to Point 2 Homes, the average housing price in the northern capital is $350,000, meaning the down payment is under $18,000.
Bob Quinlan with Doucette Realty says a major project in downtown Prince George, should attract the younger audience and could become a game-changer.
“The apartments, the townhouses, which are a lot more affordable than what we are seeing which is going up right downtown that the city is involved with where we’re going to have 150 units one and two-bedroom apartments and that’s where we see the market going,”
The younger audience is taking note of the northern capital thanks to its affordable prices and diverse economy.
“We are seeing more millennials who have become more minimalists and they are also purchasing a home that not only has basically what they need, they don’t need extra large rooms but if there is a large house they’ll also look at an income helper like a suite or an in-law suite.”
He adds Millennials are wanting a more diverse lifestyle that includes job flexibility with the ability to travel, making the big home less of a need.
“When we grew up, we focused right on the home, the family and the job and everything was centred around that. Millennials want to have a more diverse lifestyle, they want to be able to take some months to go travel and they want to have not a career but a job that they can have with more flexibility, which a lot of employers are allowing them to do contract work, that diverse lifestyle they don’t want to spend a lot of money, they don’t need to have that fancy home and Prince George just makes it that much more attractive.”
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