Many millennials are now entering the real estate market and have different needs than the generations before them. Here are some home buyer must-haves that may surprise you about this generation.
Location, Location, Location
Some things remain the same across all generations; the importance of location. Research has shown that millennials generally want to live close to work and things to do. This is a huge deciding factor for them when choosing a home.
You would think that urban areas would accommodate this request more than the suburbs, but this may not be 100% true. Those between the ages of 25-34 are actually less likely to live in urban areas. This illustrates that an urban lifestyle may not always be the perfect fit for this generation.
Automation is the way of the future. It allows for millennials to free up more time to do the things they want to do. When it comes to house hunting, they prefer almost everything to be automated.
Millennial buyers are interested in smart homes with the most advanced technology. This generation is the most digitally engaged, therefore, they want wireless thermostats, smart security systems, wireless speakers, Wi-Fi cooking ranges, smart locks and eco-friendly automated light and shade controls.
In the past, Gen-Xers were looking for fixer uppers. HGTV was leading the charge with encouraging home buyers to buy a house and fix it up. With their busy lifestyles most millennials are now choosing to go against that norm. They want something that is move-in ready and something that doesn’t require a lot of maintenance. They generally would rather spend their time with friends or traveling than work on their home.
Social Media Presence
Not surprisingly, millennials do a fair amount of their shopping online and house hunting is no different. They’re more likely to browse the web than visit homes they want to buy. They can see everything they need right from their comforts of the couch. If you want to sell your house to a millennial, it may help to have a dominant social media presence in order to get their attention. If you think just a few photos will fly, you’re mistaken. They need to see every room of the house.
Quality of Life
Millennials are slowly changing the housing market. Many desire some different criteria than past generations. Their priorities, to the way they shop, are different now more than ever. True value for them lies in the quality of life. They don’t want to give up their lifestyle to have their dream home.
If you’re interested in selling your property to this generation, get a realtor that can post your house on social media accounts, help you make your house move-in ready with what is on trend for millennials, and make sure it is in the ideal location for food and social activities.