The emergence of millennials who have the capacity to buy their own homes has prompted real estate agents with new challenges and different criterias to work on. Millennials have vastly different needs than their predecessors, the baby boomers, sparking new challenges for home builders as most of them have quite different tastes. That being said, there are some common preferences that link them all together.
1. Clean and Simple Modern House Designs
Clean and clutter free environment with minimal maintenance. Though not entirely with less furniture or gadgets, millennials like things to be simple and hassle free. They prefer houses they are satisfied with that no longer needs to be renovated. This holds especially true in regards to the kitchen as it is one of the central parts of the house according to them.
2. Work or Gaming Room
There are a lot of millennials who are either freelancers or work at home. Some are even game streamers who really love to have a dedicated room for gaming. Video Conferences and live streams are only part of the reason why millennials would want to have that room.
3. Good Neighborhood
By no means are millennials hermits in their homes. While it’s true that some do prefer to stay shut inside their homes, there are just as many who do love to mingle with their neighbours. Millennials also prioritise a location that is just walking distance to work, cafes, gyms, malls, and other crucial establishments. They love to eat out and be social with friends
4. The Smart Option
Being the first to experience the advance in technology during their younger years, millennials welcome smart devices that make everyday living easy and convenient. Unlike Gen Z and Gen Alpha, millennials are born before the internet, but are living through its evolution.
5. Affordability
While this is not something new, millennials still have low buying power and that makes it hard for them to decide on a house that they truly like. They will opt not to buy if they can’t afford it rather than settling on something that they don’t really like.
In the next few years, millennials will become one of the biggest populations looking into buying houses. Although they have diverse preferences, there are some areas that they will agree on. It’s also an increasing trend that they can’t do without technology in their lives. Home builders should take note of these as they will soon have more requests for innovative modern homes.