First-time Millennial Home Buyer Mistakes and Tips
When actress Daniella Monet (Nickelodeon’s “Victorious,” “Baby Daddy,” “The Fairly OddParents Movie”) moved into her new Los Angeles home, she discovered that her closet space was non-existent. Turns out that was just one of many common mistakes that Millennial home buyers make.
In the fifth and final installment of my series with Daniella, she talks about her experience as a first-time home buyer and warns others like her what to watch out for.
Millennials Are Entering New Territory
Millennials are in a unique position as well. For many, owning a home has been largely out of reach in recent years thanks to economic conditions. As the forecast is changing, however, more and more are now finding themselves in a position to buy a home.
In a recent survey by the National Association of Realtors, 65 percent of Millennials believe that 2016 is a good time to buy their first home. However, there are a number of fears associated with buying a home, as Daniella experienced.
“It’s all very new territory,” Daniella admits. “Unfortunately, with the charm that an older home brings — this house was built in the 1941 — there’s a very huge lack of storage. So our closet space is minimal. Were spreading our clothes and shoes and storage throughout four closets in this house, two of them being coat closets.”
“That makes for a fun life,” she adds sarcastically.
Think Down the Line
“Oddly enough we sold the dresser when we moved to the house thinking, ‘Oh we’ll get a better dresser, or closets, so we won’t need it.’ Bad move, because we had nowhere to put our clothes,” warns Daniella.
Storage space is often overlooked. First-time buyers, Millennials included, can easily get swept up in the glamour of purchasing and owning a new home. They can see themselves in it when they’re walking through it, but many don’t take the time to envision themselves getting up in the morning, getting dressed, and going to work. Those details add up over time – just like with every purchase, a house also loses it’s shininess over time, and functionality becomes more important.
“Maybe you don’t think it through: ‘is this going to be convenient to my lifestyle?’” asks Robert Hill, CEO of the Harrisonburg-Rockingham Association of Realtors. “You get in and you get over the cosmetics and all of a sudden you realize…there’s just a lot of pieces to the puzzle. Not just what you can afford, but is it in the right location and is it going to be convenient to your needs.”
Don’t Be Afraid to Ask for Help
“Don’t be afraid of asking for help and getting a professional involved. This is a project you do once, and if you use the right company or person, you’re going to have a closet that will be adjustable and flexible into the future,” says Joanna Forbes, the Closet Factory designer who helped bring Daniella’s closet vision to life.
“It’s an investment. And I find so often that people are afraid to make that financial investment. But this is something where in the morning you’re going in there, and in the evening you’re typically in your closet. So it starts your day, and finishes your day, every single day. So you want it to be a place that’s super function, enjoyable to be in, and its really the way you stat you day. If you can find your clothes easily your day goes smoother.”
When expectations aren’t meant, Millennial home buyers are bound to experience buyers remorse.
Knowing that the layout of her home wasn’t conveniently meeting her needs, Daniella decided to give Closet Factory a call.
“Usually when you move into a home you kind of just inherit whatever closet there is,” says Daniella. “So now to have something that’s really true to me and suits my style, my lifestyle, my clothing and shoe needs – it’s amazing. It really helps save time and space and gives everything a home.”
Watch the full Daniella Monet closet makeover video here:
If you missed previous parts of the series, be sure to head over and read:
Part 1: A Closet Makeover Sparked on Twitter (or How I Met Daniella Monet)
Part 2: Daniella Monet’s Boutique-Style Closet Guide & Tips
Part 3: An Inside Look at Daniella Monet’s Wardrobe
Part 4: Applying Zen Principles to Wardrobe Organization
Thanks for reading our five-part series with Daniella Monet! Visit Closet Factory or call (800) 838-7995 to schedule your FREE in-home design consultation.