Residents of apartments, and houses alike, want to be free to “roam around the cabin.” A freedom that every morning sets the stage for our daily experience. In his July 29 article entitled “Suburban Garden-Style Apartments Will Be The Future of the Multifamily Sector”, Ari Rastegar makes a compelling case for why the open-space living environment of garden-style apartments holds greater appeal for virus wary renters. Mr. Rastegar writes about his observation that living in a high-rise residential property with internal hallways and closed common areas is becoming synonymous with constrained living, and an unnecessary health risk. Apparently, many Boomers are feeling the same way. Unwilling to continue being burdened by a mortgage, property taxes, insurance and HOA dues, the 60+ year old is finding it simpler to have the landlord repair the washing machine and change the light bulbs as needed. But the price must include the freedom to roam.
With built-in open areas for social distancing, exterior access, lower density, and no elevators, this garden-style product built in the 1950’s to the year 2000 is the apartment product of choice for residents, and likewise for investors. The millennial sees these well-appointed residences as a gateway to lower costs of rent, while enjoying functional features such as USB ports replacing old phone jacks, and a designated area for Amazon package delivery. Garden-style apartments offer legitimate reasons for not living in a crowd. The attached article explains why VisionWise Capital is setting a trend by getting to this market early and making a way for you to invest directly in Garden-Style Apartments.