You’ve all probably heard this word constantly:
“Millennials”. This is the new generation of investors that was born between
1980 and 2000. They have all grown up and now they are looking for new horizons, so buying a home is their next step
in life. Technology is their anthem and social media is their flag, the
real estate market is of a whole different shade for them than it was for prior
generations. Keep reading to find out what millennials want when looking for a
home, it might even change your own perception of the market.
Millennials have one
thing straight: being practical is a priority. This is the generation of fast,
easy, and immediate transactions. Saving time is saving money, it all has to be quick and instant. This is why millennials usually look for
properties that are close to their jobs. It seems like location is still a
must in the real estate industry, but millennials are no longer thinking about
families or kids, but rather their own comfort and time-saving. However, near the city is more popular than in the city, they rather live outside
the urban center, just close enough to get there fast.
Convenience and time-saving are also why millennials
are searching for move-in ready homes where they don’t have to spend too much
of their time fixing and accommodating. And if the home is tech-friendly, then this will definitely be their first
choice when looking for a new house. So, their perfect match is a new home where
they don’t have to spend any more money renovating and where they can move the
very next day after closing the deal.
Regarding the property itself, space distribution is
essential for millennials. They are not looking for a normal home, with a
normal living room, a normal kitchen, and a normal bedroom. No, this is
definitely not the definition of a home for a millennial. This generation often searches for modern kitchens, open floor plans,
and big bedrooms. The master room is a key point for them; the bigger, the
better. They appreciate their personal space, and the bedroom is their
sanctuary. As for kitchens, the most popular ones around millennials are those
with new appliances, they want new and cute. Plus, since the kitchen is their
main hangout center, it is important that it connects to other rooms, such as
the living room, so open floor plans are very popular among this generation.
Another important factor for this generation is work
space. Every day, working from home is
getting more attractive for millennials (as well as for other generations). The
internet allows us to keep connected to the world without having to go out. So,
a working space at home is a very important thing to keep in mind when showing
a house to a millennial.
Having a home office is a convenient, money-saving
solution. And this should come along with new technology, which is a must for
millennials. Fast internet and great cell reception are essential for a
millennial. If one of those fails, a millennial won’t probably invest, since
they are important parts of their daily life.
