Will Maintenance Subscriptions Help “Generation Rent” Become Homeowners?

home ownership

If you are anything like me, the third reason likely jumped out at you. Almost as high as not qualifying for a mortgage and above thinking renting is cheaper than owning is the desire for the convenience of renting. For older generations, who probably took woodshop in high school and enjoy mowing their lawn as part of their weekend routine, this might not make much sense. But most younger people did not grow up working with their hands and manual labor is largely seen as unglamorous compared to professional or tech jobs. So buying a home for someone without the tools, skills or desire to fix the things that will inevitably break often seems like more of a hassle than a privilege. This is too bad because owning a home is often one of the main ways that households are able to build equity and save for retirement.

home ownership

If you are anything like me, the third reason likely jumped out at you. Almost as high as not qualifying for a mortgage and above thinking renting is cheaper than owning is the desire for the convenience of renting. For older generations, who probably took woodshop in high school and enjoy mowing their lawn as part of their weekend routine, this might not make much sense. But most younger people did not grow up working with their hands and manual labor is largely seen as unglamorous compared to professional or tech jobs. So buying a home for someone without the tools, skills or desire to fix the things that will inevitably break often seems like more of a hassle than a privilege. This is too bad because owning a home is often one of the main ways that households are able to build equity and save for retirement.

There might still be hope for homeownership yet. A company called Super just raised $20 million for their maintenance subscription service that, in a way, mimics the convenience of renting. Now it will be a lot easier for those that are less-than mechanically inclined to understand and budget for maintenance costs. It will also hopefully help keep houses from being neglected to the point of condemnation or blight. There are still a lot of forces preventing younger generations from buying houses at the same rate as before but if they are easily able to call someone every time something breaks or needs attention, lack of convenience might no longer be one.

Propmodo is a global multimedia effort to explore how emerging technologies affect our built environment.

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