Millennials, or anyone born between 1981 and 1996, are now a dominating force in the real estate market, making up the largest cohort of homebuyers at 37%. Perhaps due to the fact that many entered adulthood following the repercussions of the 2008 financial crisis, this generation is looking for qualities that drastically differ from what their parents valued in a home. With a higher regard for minimalism, as well as frequent travel prompting plenty of moving around, some considerations that stand out are that of being health conscious, practical and and experience-based.

CENTRAL AND SMART LIVING

With the delay in marriage age and the attractiveness of frequent travel, it's not a surprise that condos are doing much better than mansions or detached properties in the luxury segment. It becomes increasingly impractical to own a huge space when most activities take place outdoors, and more socializing can take place in communal areas, which also offer close proximity to popular attractions and the hustle and bustle of the city. 

PRACTICALITY AND DESIGN

Visualization is key, and these homebuyers will fare much better if they can get a clear sense of what each room might be used for, as well as whether these functions may overlap. Virtual or physical staging can enlarge the space, as well as provide inspiration about how an office can easily be transformed into an art room, or yoga studio.

HEALTHY LIVING AND COMMUNITY

Healthy living is extremely important, so make sure to point out all the amenities offered by the building, or the opportunities that lay in the neighbourhood, such as the seawall, parks, gyms, recreation centres, etc. Very closely tied to this is the sense of community, so it may be smart to bring attention to popular events, celebrations, or shared activities that are specific to the area.

Source: https://rismedia.com/2020/07/15/millennial-home-buying-trends-2020-luxury-market/

When deciding on whether you want to go ahead with investing in a property, some key factors to take into consideration include affordability, financing and the expected return on investment. One question to always keep in mind is, "How much can I make on the investment?" There are plenty of costs that might cut into your potential profits, especially ones that aren't obvious right from the start.

The budget you're comfortable with should include the purchase price and all costs of the acquisition, from initial renovations, maintenance and tax rates to vacancy period losses and rental management if that applies.

You can leverage the property at low risk by using financing in a low interest rate environment. This allows you to keep more of your cash and diversify your investment portfolio in the long run.

It's important to identify your own goals and how they might be affected by the fluctuating market. If generating income for a long time frame is your main purpose, purchase price isn't as significant compared to making sure that cash flow is positive and trending upward. On the other hand, if you're looking to maximimize proft, the price you pay upfront makes much more of a difference.

If the neighborhood you're looking in has a high risk of change, this can easily cost you the value of your investment. Conduct your own research or work with real estate professionals to identify a location that has, and will likely continue to remain desirable.

When the cash flow being generated is not needed immediately, reinvesting the income from the property into a market-based investment or additional rental properties can significantly maximize your wealth for long-term gains.

Overall, investment properties are an avenue for diversifying your portfolio, especially if you don't need to rely on it for liquid assets and can afford to own for a long period of time. Just like with any other investment, the importance of doing your due diligence in understanding the commitment and effort that is required cannot be overstated.

Source: https://www.washingtonpost.com/business/2020/07/15/how-decide-if-property-is-good-investment/

Feeling sluggish from being stuck at home all day long? Physical health is something that needs to be consciously monitored regardless of what's happening around you. While Yaletown offers an array of outdoor options, from the renowned Seawall to pockets of lush scenery right in the city, here are some alternative fitness options you can make use of right from home!

Barre Fitness

1038 Mainland St

(604-669-6906)

Virtual Sessions

Barre Fitness Yaletown is Canada’s original barre based workout studio! Located in the heart of Yaletown and only minutes away from the Canada Line Yaletown Skytrain Station, our beautiful flagship studio offers a variety of classes for all levels.

Fit to be Healthy

1038-1020 Mainland St

(604-620-0040)

Virtual Sessions

Fit to Be Healthy specializes in providing individualized one-on-one training to women from all walks of life, of all shapes and sizes, and with all different fitness levels. Available as early as 6AM to as late as 9PM, they can train with you in the comfort of your own home/work or in the relaxed atmosphere of their private Yaletown training studio at times that are convenient to you. 

Form Body Lab

310-1152 Mainland St

(604-687-6870)

Virtual Sessions

Form Body Lab is a rehabilitation focused Vancouver pilates studio specializing in an integrated, client-focused approach to wellness. Their team includes physiotherapists, registered massage therapists, and pilates & yoga instructors who collaborate to provide the best possible care for you!

Pure Barre

1128 Homer St

(604-695-9507)

Live Streaming Sessions

Pure Barre is the largest, most established barre franchise in the nation, with more than 375 studios across the country, and more opening every month. Pure Barre is a total body workout that utilizes the ballet barre to perform small, isometric movements, which burn fat, sculpt muscles and create long, lean physiques.

Rize Fitness Inc. 

188 Smithe St

(778-709-8483)

Virtual Coaching

Rize Fitness is a Vancouver-based company built by a team of elite strength and conditioning coaches. Whether clients are looking to get strong, start weight-lifting, or improve their current workout regime, Rize Fitness can create a program tailored to their specific needs. Their goal is to help clients improve physical strength and mental well-being.

YYoga

280-1050 Homer St

(604-684-3334)

Virtual Sessions

Located in the heart of Yaletown is one of their founding studios offering a variety of yoga classes. Enjoy the support of an incredible community, intimate space and historical vibe.

Source: https://yaletowninfo.com/takeyaletownhome/

2020 so far might not be the year we envisioned counting down to midnight on the 31st of December, but when we look back at this extraordinary experience in half a year's time, how do you want to feel?

Getting started on whatever your goal is can often be the biggest hurdle to overcome, but staying motivated and disciplined day in and day out despite uncontrollable circumstances is a skill only the strongest of us will learn to master. Think about that DIY home project that you embarked on in the spring, with all the materials now laying somewhere in the shed. Think about that new diet you promised yourself to stick to a few weeks ago, before all the restaurants started offering amazing discounts on delivery and takeout. Think about that personal development course you were so excited about, skimming through the first few minutes of the video, before pausing it for the newest episode of your favourite TV show. It's almost impossible not to get sidetracked by everything else life has to offer, but here are some practices to get you re-started on the path to success.

1. DON'T EXPECT PERFECTION

It's almost impossible not to hold ourselves to a higher standard than the people we care about, but that can often do more harm than good when it comes to building the confidence and momentum to get going. If you want to try something completely out of your comfort zone, don't expect results similar to someone who's been practicing for ages. Instead, expect mistakes, and expect a lot of them, because they're the ultimate sign of growth.

2. START NOW

Perhaps you've successfully convinced yourself that you'll start the next month, the next week, or the next day even. How many times have you actually stuck to those deadlines? If there's something you want to accomplish, take a small step as soon as the thought occurs to you, otherwise it'll remain just that, a thought. Momentum builds as you take action, and soon you'll be well on your way to achieving success without a hint of desire to pause for a break.

3. LEISURE CAN WAIT

There's a difference between self care, and mindlessly robbing yourself of valuable time, time that will never come back. Figure out which activities are most effective as a reset button for yourself, make you feel better, and further invigorate you. A tip to follow is that these activities should renew your enthusiasm for getting back to work, rather than induce dread at the idea of it stopping. Schedule start and stop times for breaks, so that a 10 minute pause doesn't snowball into 3 hours of scrolling on your phone.

4. SAY YES

One takeaway we should all have in response to current events is that time and opportunities are limited. Think about all the projects, activities, and hobbies that you would usually say no to, and reflect upon the reason behind your reluctance. Patterns and habits are great for maintaining routine, but if you're finding your day-to-day a little dull and discouraging, sign up for something spontaneous or agree with no questions asked the next time your friend extends a questionable invitation.

There are so many ways to spearhead change if you're finding yourself butting heads with internal or external resistance. Keep in mind that nothing is permanent, and you have all the power you need to make a difference. Cheers to the second half of 2020!