The Millennial generation has different wants and needs when it comes to home buying. Especially when compared to their parents and grandparents. Most real estate markets mainly consist of buyers in this age group; their preferences have been studied and documented by the real estate industry to increase sales. What are millennials looking for that is so unique? Here are five of the many features that they find attractive:
Space for Work: Thanks to rapidly-changing technology, commuting to work is becoming a thing of the past. As, many Millennials seek out positions where they can work from home and be around their families. For this reason, a home that has a dedicated workspace can be super-attractive to this generation. Of course, whether that space is a workshop, craft room, or an office depends on personal needs.
Open Floor Plans: Many people in the younger generation prefer a wide-open floor plan, reminiscent of the lofts that many rented when they were younger. This open space is better than having structured rooms with defined purposes because everything can be rearranged easily. After all, an open space can be made into almost anything and everything. Additionally, a kitchen that opens up into the living room area makes entertaining is a breeze.
Hardwood Flooring: Hardwood is much easier to maintain and lasts longer than carpeting. This is no secret to Millennials, as they usually don’t want to shampoo every carpet in their home over and over. Hardwood is also much more versatile. The flooring works with almost any type of room.
Energy Efficiency: This generation believes that becoming a greener society is important. In addition to helping the environment, making green choices saves homeowners a lot of money on utility bills. Installing a programmable thermostat, Energy Star appliances, LED lighting, and even solar panels will draw the Millennial crowd.
Technologically-advanced Homes: This goes back to technology directly affecting this group’s choices once again. Smart home features are convenient and surprisingly affordable, and the generation that has grown up with automated and voice-controlled devices looks for homes that feature similar technology. Some homes have automated lighting and heating systems, appliances, and garage doors. Many are controlled by smartphone apps.
In conclusion, as Millennials become older, they are quickly becoming the largest group of homebuyers in the country. That is why any realtor that is not already catering to the Millennial crowd should start paying attention to the group’s preferences.