Millennial buyers are feeling optimistic, if not a little overwhelmed about taking the plunge into home ownership. According to the 2019 Better Homes & Gardens New Home Buyers report, 65 percent of Millennials see purchasing a home as a good investment, compared to 56 percent of both GenX and Baby Boomer buyers. Nearly 40 percent of Millennials are concerned about managing their anxiety level during the home buying process, which seems particularly on-brand for the “most anxious generation.”
But the home buying scaries quickly subside for Millennials with the help of a knowledgeable realtor and research conducted via social media, leading 83 percent of home buyers to report satisfaction with their big-ticket purchase. Whether you’re looking to appeal to Millennial home buyers or are one yourself, these five sought-after features gleaned from the report shed some light on the generation’s home buying preferences.
1. They want their homes to be social-media ready
Photo: James Bombales, design by Jo Alcorn
Doing it for the ‘gram is a Millennial pastime, so it makes sense that one in three recent Millennial buyers say they need their future home to be “attractive enough for social media.” About half of those surveyed report posting photos online of their Insta-worthy digs and another 47 percent say they use social media to decide what changes to make to their home. Pin to your heart’s content, young buyers!
2. They crave urban amenities and quick commuting options
Photo: James Bombales
Contrary to popular belief, Millennials aren’t killing the suburbs — they’re just demanding more from them. Neighborhoods that offer reputable schools, access to public transit, and daily conveniences [like grocery stores or shopping centres] are highly sought-after among the 25- to 39-year-old home buying crowd.
3. They require their homes to be pet-friendly
Photo: Kelsey Pudloski
A whopping 77 percent of recent Millennial buyers own at least one pet, which has shaped their home shopping preferences. Fenced-in yards, proximity to dog parks and central vacuum systems could win over pet lovers in search of their fur-ever home.
4. They plan to entertain frequently or host holiday gatherings
Photo: James Bombales, design by Kelsey Pudloski
“We need space for entertaining” is an oft-repeated line on HGTV’s House Hunters, and it seems to have penetrated Millennials’ psyches. Eighty-nine percent of Millennial buyers say they plan to entertain or host holiday gatherings in their new homes, beating out GenXers and Baby Boomers. Word is still out on whether this youthful optimism will subside once Thanksgiving turkey prep lies solely with us.
5. Their dream home features include a state-of-the-art kitchen, outdoor pool and his-and-her bathrooms
Photo: James Bombales, design by Sara Bederman
Surprisingly, Millennial, GenX and Boomer buyers all wish for a state-of-the-art kitchen and outdoor swimming pool when it comes to their dream home features. Millennials’ third choice — his-and-her bathrooms in the master bedroom — differed from GenX (who prefer a media room) and Boomers (who are jonesing for a three-car garage). Sometimes you just need your own sink to maintain sanity in a relationship!
Article Courtesy of Kelsey Pudloski @ Livabl by BuzzBuzzHome