Wants of Younger Buyers
Tech savvy and always on the go, millennial buyers have different expectations when it comes to buying a home. They are often in different places in their lives and most aren't even married yet.
We have below a handful of interesting features millennial buyers are adding to their 'want' list when it comes to searching for that perfect home.
#1 Eco Friendly Options
Green home options are now becoming a housing staple. Today's younger buyers are greening out in an effort to reduce their utility bills. Energy-efficient windows and appliances, as well as solar panels, are all the rage in today's market, and according to a recent housing survey, energy-saving washers and dryers were millennials' most sought-after appliance.
#2 High-Tech Homes
Nearly two-thirds of Millennials wouldn't live in a home that wasn't tech-friendly. Apps and security systems aside, Millennials are also interested in luxe home tech, they would gladly transform a living room into a home theater, and when it comes to the kitchen, they would rather have a television screen than a second oven. Each generation makes decisions that are synonymous with the technology and advancements available to them. The home-buying decision made today by the Millennial generation proves to be cutting-edge and technology driven.
#3 Versatile Space
Today's buyers want space they can custom-feed to their interests; buyers are looking for flexible spaces that can be used for multiple purposes. While they may not be looking for that room for baby right now, they may want a game room, a home office or a home gym. Giving them extra spaces to get creative and provide them with the ability to change their space along with their lifestyle as their needs evolve.
#4 Smaller Room
Smaller living spaces are becoming popular nowadays, which are both more manageable and efficient for younger buyers. Square footage is not the only thing younger buyers are cutting back on; some are also ditching the stairs. Younger buyers who are used to and enjoy apartment-style living are now also surprisingly looking for one-floor homes.
#5 Move-In Ready
Many new buyers aren't feeling up to doing it themselves. Scoring a deal on a fixer-upper is less appealing than paying more for something move-in ready. Millennials are looking for spaces that are easy to maintain and do not occupy a lot of their time.
Be sure to be mobile friendly when working with younger buyers. We have entered real-time real estate. It's like mobile technology was made for young buyers. They have their GPS-enabled mobile real estate apps, receiving instant updates when new listings come on the market in their selected area and instant communications with their network of friends for recommendations and suggestions.
Millennials are a very social generation. They like putting their life out there for everyone to see. If they are doing it, they are sharing it. Therefore, the homes they live in share those characteristics.