Everyone has their eye on the Millennials. And there’s a reason!
66% of homebuyers today are first-time buyers. Of that, one-third are Millennials. So what do millennials want in a house?
Millennials are the generation of people who were born 1981-2000. If you are one of these people, this will resonate with you! If you are wondering how sellable your home is, keep reading!
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10 Things Millennials Want in a House
1. Updated Bathroom and Kitchen – Granite countertops, two-tone cabinets, tile backsplash, frameless shower enclosures, THE WORKS. For easy bathroom updates visit Bathroom Remodeling Blog
2. Open floor plan – we’ve all heard of this design feature in a home. It seems to be the only way to design a home these days. Millennials are more likely to want this than GenX, Baby Boomers and seniors. Read more at remodeling.
3. Separate office (or 2) – As more and more companies are implementing flextime for employees, having a home office has become a must for most homes. And quarantine has taught us that multiple spaces for work in your home is definitely a luxury.
4. Smart home – Control your home from your phone no matter where you are. The life of convenience, everything at your fingertips and instant gratification. If only this generation remembered the days that we could only watch cartoons on Saturday mornings.
5. Low-Cost Maintenance – Vinyl siding instead of wood, tankless water heaters, composite board decks and fences, the list can go on and on. I would guess they are the generation most likely to hire a cleaning service for their homes as well.
6. Energy Efficient – Millennials are the largest generation in the United States and they are also the most environmentally conscious. They care about what they buy, what they eat, and how they live their lives. Millennials care about sustainability and energy efficiency. For some tips on sustainability visit Simply Living Green with Rebekah.
7. Laundry Rooms – So here it is. Convenience is expected in life. No more bringing laundry to the basement. No more laundry closets either. A full room dedicated to laundry and bonus if it’s on the second floor.
8. Storage Capacity – Think about this…rechargeable everything. Take your linen closet, mud space, even coat closet and put an outlet in it. Where else would you recharge your cordless vacuum?
9. Hardwood Floors – This design element of a home speaks to multiple choices that are important to Millennials. Sustainability, low maintenance and high end materials in their home.
10. Space to be creative – Millennials don’t want limitations both in their physical space and mental space.
Is your home ready for this generation? Millennials are a huge part of home buyers today. Pick the items on this list that you can get done in your house for minimal cost and it will pay off. These homebuyers are ready to pay up for a home that looks like a magazine picture. Remember, a lot of this can be accomplished with just staging.
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FAQ
Q: Why is buying a house so hard for millennials?
A: The millennial generation is at the phase in their life to be buying a home. Unfortunately it’s also a time that home values are at a record high.
Q: Are millennials purchasing homes?
A: The National Association of Realtors give insight on generational home buying trends. READ MORE
Q: What are millennials looking for in a home?
A: If you didn’t get enough info on this in the post above, a study by the NAHB (National Association of Home Builders) showed that more than 80 percent of Millennials wanted laundry rooms, hardwood floors, patios, and garage storage.
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