While Millennials are often considered the generation unwilling to settle down—not buying cars, not buying houses—the fact of the matter is that certain segments of the millennial population are doing just that. Here’s what millennials are looking for in homes, and what more and more modern homes are being constructed to reflect. These trends in the real estate market aren’t going away any time soon.
1. Updated Kitchens and Bathrooms
Everyone likes updated kitchen and bathroom features, but for Millennials this is more of a selling point than for older generations. There’s less expectation among the younger crowd that they’re going to be able to replace anything that they don’t like. Most will be using a lot of their disposable income in order to pay the down payment. If they’re going to sink a lot of money into it, they want it to pay off.
2. Open Floor Plans
Compartmentalizing is a thing of the past. Open floor plans, especially large, open kitchens that bleed into an informal sitting space, are all the rage with the younger crowd. This influences current new home designs.
3. Space for a Home Office
The one thing that Millennials do best is work from home. It’s also the one exception to the open floor plan rule. Having a home office set aside allows younger people to keep their home and work life separate even when they’re earning money at home, or putting in a couple of hours on the weekends.
4. They Don’t Want a Fixer-upper
Millennials want it replaced, not repaired. They also value their free time highly. They’re not likely to want a home that needs a lot of TLC. Rather than spending their time completing home repairs like their parents, they want to spend their leisure time on leisure—not putting in another 8 hours around the house.
5. Good Internet and Mobile Service
These days, how a home does with cell reception is more important than if it has cable. A home that’s located near to a fast Internet zone is also more likely to snag the attention of these younger shoppers. A rural house without a lot of carrier options might find itself hard pressed to pick up a buyer under 35.
6. Home Owner’s Associations Are on the Way Out
At least, no one wants to pay high HOA dues anymore. With dues coming monthly, quarterly, or yearly, Millennials aren’t enchanted by these upkeep costs. They’re gong to be factored into the mortgage price, and could put an otherwise desirable home out of their interest. Low cost, low fuss is the way Millennials want to shop. Local neighborhood government and regulation? They could do without it.
7. Online Fact Checking and Research
Millennials like to comparison shop. They also like to do their research from their smartphones, their tablets, and in cafes on their lunch break. Homes that are posted online (complete with flattering pictures and a little curb appeal option) are the most well received by buyers in this age bracket.
Tamra Wade may be a Realtor, but making dreams come true is her real business. “I love new homes,” she explains, “and my goal is to meet the needs of Atlanta-area homebuyers even as I help create money-saving solutions for builders.” This approach to her work has made Tamra Wade and Partners a leading real estate firm. In this year alone, her company has been named the No. 1 RE/MAX team in Georgia (an honor...
Tamra Wade & Partners’ client Chafin Builders is offering a $10,000 “any way you want” incentive* on select homes. The deal is being offered at its community Willow Leaf, which is located in Flowery Branch. This community features beautiful two-story, Craftsman-style homes priced from the $170,000s. Homes in Willow Leaf offer three and four bedroom floor plans with brick, stone and shake accents per elevation. In addition, homes in Willow Leaf offer two-car garages and...
