Are you ready to cater to the next wave of homebuyers? The millennials have joined the party and are gearing up towards homeownership as their first and foremost priority.
Catering to millennials’ demand has been quite a challenge for the agents. While some are looking for a hip, urban, and contemporary lifestyle, others are interested in more of an old-school, traditional vibe. In other words, there is no common approach despite all of them belonging to the same generation.
However, a few factors bring millennials on the same page. To know what factors millennials consider when they look for a new home, keep on reading this article.
In comparison to previous generations, Millennials are more sorted in their approach and are clear-headed about their wants and needs. Speaking of their house needs, they have more of a pragmatic approach. For instance, the concept of a living room is slowly diminishing as Millennials look for a multifunctional space. They are now hunting for spaces that can be easily turned into a work or learning station.
Whether they are looking to rent out the property or make a purchase, they take into account everything from their professional to personal life.
If they are married, they would want to move into a house that does not add much length to their commute and whether the location facilitates their school-going children.
Moreover, their priority is to look for a home near their job location to minimize any potential delays when it comes to both reaching the workplace and arriving back home on time.
As they are all set to embrace marriage or parenthood, they are beginning to realize that they cannot just move anywhere and expect prosperity to come after them. What they are looking for is a practical, convenient, and enduring investment!
Pets over parking
When talking about urban millennials, we cannot deny that pets are of great importance, and they are willing to forgo parking space for the same.
To put it exactly, millennials are looking for homes in pet-friendly buildings. They categorically ask whether or not the building comes with any restrictions or limitations with regard to pets. Regardless of what they are looking for, the requirement to have a yard for their pet dog remains constant even if the size of the home is small or isn’t spacious enough.
Pets are as much a priority as the family for millennials. This is why; they search for more outdoor space to strike the much-needed balance.
Some of them are even willing to upon a bedroom space to enjoy a little bit of more outdoor space.
Millennials have grown accustomed to the digitization of almost everything. Hence, they look for a home that is tech-savvy and offers connectivity.
If a home offers a kitchen with charging spots or smart doorbells, millennials feel compelled to give that home a second look, and therefore, a keen consideration to take is as their permanent abode.