What is driving the preference for renting over owning? Marcus Hiles notes that, in Texas and around the country, people enjoy the flexibility that accompanies the rental lifestyle. “We’re a mobile population,” he demonstrates. “The idea of settling in one place for a decade – or for the length of a 30-year mortgage – doesn’t hold the same appeal as it did a generation or two ago.” Debunking the idea that owners have an edge in personal fulfillment, Hiles points to research explaining that renters come out on top. He adds, “People who rent actually spend more time engaging in leisure activities and interacting with their friends and neighbors.”
As young professionals are buying a home later in life, Marcus Hiles plans for continued success of his communities and residents. Renting a home has become fashionable across all income tax brackets, and conveniences such as concierge services, fitness centers, club rooms, infinity pools, and tanning decks provide an upscale standard of living for successful young professionals and families. Community social gatherings and sustainable development have become a standard of living for environmentally friendly and socially connected millennials. Modern technology and the “Internet of Things” (IoT) is making townhomes and apartments a better option for Texans looking to live conveniently.