The millennial generation is becoming an increasingly important aspect of the housing market. In fact, a 2015 National Association of Realtors study on generational housing trends showed millennials (born between 1980 and 2000) make up the largest segment of today’s homebuyer market. According to Inman, here are some amenities this newest generation of educated, discerning, socially conscious and global buyers is seeking in a home:
They want to live close to downtown areas, bars, cafes and shopping. Even as responsible homeowners, these things matter. They’re buying homes and care about their social lives.
They want to enjoy a posh lifestyle, even on a limited budget. They should have proper parking for their car, while still being near the local metro. They also want to be able to walk to their favorite trendy cafe, bike to the pier on weekends or ride-share across town to the newest bar or restaurant opening. The comforts of city living need to be accessible, and the glam life needs to feel within their reach.
They want to be central to the social settings they frequent and the services they use (like doctors, dentists, pharmacies and pet and grocery stores).
Conveniences aren’t considered nice-to-haves; they are must-haves.
They Want What They Want
Millennials have simple, yet sophisticated, tastes. They are looking for a multifunctional, modern (but with character) oasis that they can deck out with noteworthy features—like a wine cellar; a classic home that’s been restored with modern conveniences; modern, European-style kitchens with stainless-steel appliances; interesting gadgets (think espresso machine); and the latest technology.