{"id":8403,"date":"2015-10-01T13:38:02","date_gmt":"2015-10-01T13:38:02","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=8403"},"modified":"2015-10-01T13:38:02","modified_gmt":"2015-10-01T13:38:02","slug":"tiny-condos-draw-millennials-to-ownership","status":"publish","type":"post","link":"https:\/\/www.anthonydidonato.net\/wordpress\/tiny-condos-draw-millennials-to-ownership\/","title":{"rendered":"\u2018Tiny Condos\u2019 Draw Millennials to Ownership"},"content":{"rendered":"

\u2018Tiny Condos\u2019 Draw Millennials to Ownership<\/h2>\n

 <\/p>\n

\"\u2018Tiny<\/a>

\u2018Tiny Condos\u2019 Draw Millennials to Ownership. Image courtesy of mapichai \/ FreeDigitalPhotos.net<\/p><\/div>\n

Real estate developers are hoping to entice young professional renters into home ownership by wooing them with tiny, more affordable condos.<\/p>\n

Downtown Washington, D.C. serves as one example of the tiny condo movement’s gain in momentum.<\/p>\n

“They definitely notice it’s smaller, so it is an explanation; it takes a little bit of an adjustment,” says Chris Ballard, principal at McWilliams\/Ballard, a marketing firm that works with the Peterson Cos., the developer of Ontario 17, a new condominium building in D.C.’s Adams Morgan neighborhood. The building\u2019s tiny studios are just 380 square feet and cost $275,000 \u2013 which is about half the neighborhood\u2019s median price. The building, which is not yet finished, is already about 70 percent sold.<\/p>\n

“Things are getting smaller, and people are starting to understand,” says Laina Lee, one of the sales managers at Ontario 17. “About 80 percent of all our buyers, including our studios and our one-bedrooms, have all been first-time home buyers.”<\/p>\n

Many young professionals are battling historically high rents that have made it difficult for them to save for a down payment to break into home ownership.<\/p>\n

Ballard says it\u2019s cheaper to buy at Ontario 17 than to rent in D.C.\u2019s booming rental market.<\/p>\n

“We’re definitely getting a consumer that’s priced out of the market,” Ballard says. “They look at older resales, and now they get to come and look at something that is brand new, and so that’s a great difference, when you’re comparing a 1970s build, older-type condominium with something that’s brand-new with all new fit and finish.”<\/p>\n

At Ontario 17 in D.C., within 380 square feet, the studio units have a bed that pulls out of the wall, a dining table that pulls down from a hanging picture frame, a sofa that is built into the bottom of the bed, high-end kitchen appliances that are slightly smaller to fit the space, and in many cases a small terrace as well.<\/p>\n

Source: \u201cWooing Millennials to Buy Condos: Really Tiny Condos,\u201d CNBC (Sept. 29, 2015)<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

\u2018Tiny Condos\u2019 Draw Millennials to Ownership   Real estate developers are hoping to entice young professional renters into home ownership by wooing them with tiny, more affordable condos. Downtown Washington, D.C. serves as one example of the tiny condo movement’s gain in momentum. “They definitely notice it’s smaller, so it is an explanation; it takes … <\/p>\n

Continue reading<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,8],"tags":[5,32,4,9],"class_list":["post-8403","post","type-post","status-publish","format-standard","hentry","category-news","category-real-estate-tips","tag-anthony-didonato","tag-news","tag-real-estate","tag-tips","item-wrap"],"yoast_head":"\n\u2018Tiny Condos\u2019 Draw Millennials to Ownership - Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.anthonydidonato.net\/wordpress\/tiny-condos-draw-millennials-to-ownership\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/tiny-condos-draw-millennials-to-ownership\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/tiny-condos-draw-millennials-to-ownership\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"headline\":\"\u2018Tiny Condos\u2019 Draw Millennials to Ownership\",\"datePublished\":\"2015-10-01T13:38:02+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/tiny-condos-draw-millennials-to-ownership\\\/\"},\"wordCount\":369,\"publisher\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"image\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/tiny-condos-draw-millennials-to-ownership\\\/#primaryimage\"},\"thumbnailUrl\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/wp-content\\\/uploads\\\/2015\\\/10\\\/ID-100276819.jpg\",\"keywords\":[\"Anthony DiDonato\",\"News\",\"Real Estate\",\"tips\"],\"articleSection\":[\"News\",\"Real Estate Tips\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/tiny-condos-draw-millennials-to-ownership\\\/\",\"url\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/tiny-condos-draw-millennials-to-ownership\\\/\",\"name\":\"\u2018Tiny Condos\u2019 Draw Millennials to Ownership - Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania\",\"isPartOf\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/tiny-condos-draw-millennials-to-ownership\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/tiny-condos-draw-millennials-to-ownership\\\/#primaryimage\"},\"thumbnailUrl\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/wp-content\\\/uploads\\\/2015\\\/10\\\/ID-100276819.jpg\",\"datePublished\":\"2015-10-01T13:38:02+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/tiny-condos-draw-millennials-to-ownership\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/tiny-condos-draw-millennials-to-ownership\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/tiny-condos-draw-millennials-to-ownership\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/wp-content\\\/uploads\\\/2015\\\/10\\\/ID-100276819.jpg\",\"contentUrl\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/wp-content\\\/uploads\\\/2015\\\/10\\\/ID-100276819.jpg\",\"width\":400,\"height\":293,\"caption\":\"\u2018Tiny Condos\u2019 Draw Millennials to Ownership. 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