Millennials is a generation that is now between the ages of 16 and 36. More than 60% of them are at an age to buy a home. What makes millennials so special homebuyers is that they aren’t looking for traditional floor plans. They look for high functionality and don’t want any space to be wasted.
Proper dining rooms are becoming outdated as modern families are enormously busy and tremendously dynamic. The previous generations used dining rooms every day.
Besides longer school time and more options for after school activities, there are also more nontraditional families these days. This explains why people aren’t spending time in the formal dining room every day. Millennials like a dining area to be a part of their kitchen.
Millennials are typically getting married later. They spend more time for drinking and entertaining. This might be the reason why they also prefer to dine in the kitchen. This generation is very social and drawn to spaces that are comfortable for interacting with others. They also want modern furniture that’s convenient to their social lifestyle.
Millennials value functionality and hate wasted space. If a basement only takes up space or harbors a washer and dryer, it doesn’t realize its full potential. There are several ways how millennials can use their finished basements: for extra bedroom or guest room; for home theater and entertaining room; for “man cave”; for fitness area.
Most millennials have a tendency to search for homes that are nearly move-in ready. While the generation prefers to complete work themselves when they can, they also want to choose a home that requires little work upon moving in. What’s the reason for this? A lot of millennials who buy homes don’t have the time or money to spend on a fixer-upper and many of them don’t have patience for a long renovation process after moving in.
Whether it’s home cinemas, gaming rooms, elaborate home offices or security systems, millennials worth technology. A home that is conducive to rapidly-changing technology or comes with an upgraded security system is going to be extremely attractive to this generation. And real estate with outdated technological features such as old garage doors, appliances or lighting fixtures won’t be as attractive to the newest generation of purchasers.
Today the increasing numbers of millennials make their way to the housing market. They are an eco-concerned, more sophisticated and very active group of individuals. Their home buying patterns reflect their unique set of characteristics and their style of life.
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