The world is becoming increasingly interconnected and tech-savvy, and the conventional concept of homeownership is undergoing a significant transformation. The rise of the travel lifestyle challenges the idea that owning a permanent residence is the ultimate life goal. Instead, it offers a new perspective, where freedom and experiences outweigh the burden of a fixed home address. Herein, how the travel lifestyle is redefining homeownership as we know it.
Minimalism and the decluttered life
Owning a home is a distant dream for many Kenyans, especially now that property values have increased, economic inflation being a culprit. For those who accomplish this dream, the feeling cannot be explained. Knowing that nobody will knock at your door or call to ask for house rent is a relief. Homeownership comes with several benefits:
- Build home equity
- Financial security
- Design your dream house
- Upgrade of social status
As much as homeownership comes with these benefits, you’re responsible for maintaining the property, paying property taxes, and dealing with the inevitable accumulation of possessions. On the other hand, the travel lifestyle embraces minimalism and the idea that less is more.
By living out of a backpack or suitcase, you can reduce material possessions to the essentials, focusing on experiences and personal growth rather than accumulating stuff. This minimalist approach simplifies life and reduces the environmental footprint, contributing to a more sustainable way of living.
The freedom of location independence
The travel lifestyle is significantly admired due to its location independence. High-speed internet and the growth of remote work opportunities are the core contributors to digital nomadic life. People can choose where to live and work without being tethered to a single place. This newfound freedom has made owning a home in one location less appealing for many.
Digital nomads are growing to live in different cities or countries for a few months. They focus more on experiencing diverse cultures and enjoying the flexibility to adapt to changing circumstances. Instead of investing in a single, static property, they invest in experiences, self-growth, and a dynamic way of life.
Financial flexibility
Life doesn’t have to be complicated. Buying and renting have merits and demerits, but which options favor and support your lifestyle more? Properties to rent and buy are numerous, as you can see when you visit this website. But, owning a house can be a financial burden due to mortgage payments, property taxes, and maintenance costs eating into one’s budget.
Also, you’ll be stuck in one place. However, digital nomads can allocate their resources flexibly. They can invest in experiences, education, and personal development instead of tying up their finances in a property. Blueground is now offering an ideal solution for long-term stays.
Renting accommodations as needed can minimize long-term financial commitments. Digital nomads can quickly adapt to changing economic conditions and opportunities. This financial flexibility is a crucial aspect of the travel lifestyle, allowing individuals to pursue their passions and career goals more freely.
Co-spaces
The rise of the travel lifestyle has led to the creation of innovative co-living and working spaces worldwide. These spaces are specifically for the needs of remote workers and nomads. They offer a community of like-minded individuals, shared resources, and a flexible living arrangement.
Digital nomads use these spaces as their temporary homes, providing the comforts and amenities of a traditional residence without a long-term commitment. This shift towards communal living challenges the conventional idea of homeownership, emphasizing the value of shared experiences and collaboration over individual ownership.
The travel lifestyle is reshaping our understanding of homeownership. It is challenging the conventional notion of settling down in one place. As remote work grows, digital nomadic will attract more people, and the homeownership concept only continues to evolve.
Homeownership will never run out of fashion, as it’s a valid choice for many. The digital nomadic lifestyle only demonstrates that there are alternative paths to a fulfilling life where the world becomes your home. The question, “Where is your home?” will change to, “What adventures are you embarking on next?”
