If there’s one thing that seems to ring true more than ever right now, it’s that millennials are embracing the renting game. For the longest time, we were told to stop eating avocados (sorry, but that was never going to happen) and sold the Aussie dream of owning a big house with a white picket fence and a backyard big enough for two golden retrievers. And while that is certainly on the cards for some and something to work towards, as high-density urbanisation increases and house prices are on the up, according to this report one in three Aussies are renters and loving all the benefits that come with it.
There’s no denying the renting trend is well and truly on the rise, and with the help of NRMA Insurance, we’re going to break down exactly why. From curating your dream lifestyle to decking out your digs in your unique style, here’s everything you need to know about renting and why it’s the new Aussie dream.
It’s About Curating The Life You Want
At the end of the day, renting is flexible. It allows you to be more selective on where you live—whether that be in the city so you’re in the thick of things, embracing slow regional living, or soaking up that sweet, salty air on the coast. "The Big Movers: Understanding Population Mobility in Regional Australia“ report released this year showed that within the period of 2011 - 2016 more millennials left Sydney in favour of regional areas than those who moved to the city. And with no surprises, another report conducted by the Regional Australia Institute (RAI) also predicted that COVID-19 would drive even more millennials to live wherever they want since a huge portion of us are working from home. Ultimately, renting allows us to curate the life we want and we reckon that’s certainly something worth embracing.
We Still Have Stuff Worth Protecting
Just because you’re renting it doesn’t mean it has to come at the expense of curating the home you want. We’re spending more time in our four walls, so creating a warm and inviting space is more important than ever before. While you may not be able to knock down walls or replace those bathroom tiles (heads up though, the retro look is in), you can still make your rental feel like a home by decking it out with decor. Embrace colour and hang your artworks on the walls (using stick-on hooks that won’t damage the walls), fill up your space with lush greenery and go all-out with your furniture. At the end of the day, it’s not the walls, joinery or windows that make a house feel like a home. It’s the possessions steeped in memories that turn them into homes—because you’re not ‘only renting’—you’re creating memories and moments that will last longer than any one house, and that’s certainly something worth protecting with the help of NRMA Renters’ Content Insurance.
We’re Out Here Living Our Best Lives
With rents becoming more negotiable due to COVID, housing prices continuing to climb, and work, school and life going remote for a lot of us, now is well and truly one of the best times financially to be a renter. According to this report, three in four millennials are unwilling to sacrifice their lifestyle and prefer to spend money on experiences like travelling and eating out than paying back a home loan. Ultimately, renters aren’t nailed down by a mortgage so they can spend their hard-earned dollars on more of the things they love.
It’s time to embrace renting, curate our dream lifestyle and protect all of the wonderful possessions that make a house, a home with the help of NRMA Renters’ Content Insurance.
Image credit: Luisa Brimble
Editor’s note: This article is sponsored by NRMA Renters’ Content Insurance and proudly endorsed by Urban List. Thank you for supporting the sponsors who make Urban List possible. Click here for more information on our editorial policy.