What Are The Millennials Looking For In A House? – Selling A House To Millenials
According to Bank of America’s recent study and its annual homebuyer insights report, it reveals that 72% of the millennials, which the report identified as being born between 1978 and 1995, consider owning a home a “top priority” — more over than traveling (61%), getting married (50%), or having children (40%). Therefore, selling a house to millennials may be a better option to client prospecting for that matter. Trends nowadays, show that home buyers from this generation are gradually increasing. Applying the Generational Difference in marketing approach for Real Estate industry, we can identify what exactly are the millennials looking for in a house and how to sell them fast!
But before selling a house to millennials, it is important for marketers to know their segmented qualities. This generation are known to be more open-minded about tasks around the home, and won’t be too picky when it comes to homes that need work. They won’t mind the extra costs for luxuries in getting a new home, in general. The Millennials would prefer to collaborate, communicate and tag along with their friends and those in the same era. Marketers must reach out to them through word of mouth, online groups, etc. Therefore, real estate agents must be aware of these qualities before selling a house to millennials. By the way, millennials have long been touted as the generation that prefers city living over suburbs, so agents must know what to offer.
The next generation of homeowners wants smart, stylish homes that enable them to connect with friends and family. Home design is one of the top motivating factors for the millennial’s lifestyle. Given these rationales, we listed below some of the hot trends and popular styles for millennial home buyers:
- Fully-equipped Laundry room, with 55%of millennials saying they just wouldn’t buy a new home without one;
- 88% of the millennials wants exterior lighting as essential or desirable, as this affects their mood or daily lifestyle;
- Millennials prefer “Modern Traditional” as the most preferred home style, followed by “Style on a Budget”
- Outdoor living also comes out on the top styles with three out of four of those under 35 saying outdoor space is important for entertaining and 51% percent dreaming of having an outdoor kitchen sink, cooktop, refrigerator and grill;
- Popular kitchen style trends are either original period details: pure and unspoiled, or totally and completely modern. Lots of contrast;
- Millennials prefer to have “Specialty Rooms” such as Open floor plans combining family rooms with kitchen and dining areas, Media rooms, Playrooms for kids (or future kids), Wine cellars, Work-out rooms;
- Color trends for millennials are Earth-tone, soft colors. Lots of blues, greens, browns – bringing the outdoors inside. Sharp contrasts with brilliant hues of red or orange accent walls;
- Millennials home buyers are moving away from carpeting, even in the bedrooms. If carpeting is used at all, it’s used sparingly. Walls are either plaster, trowel textured or completely smooth;
- Millennials want lots of glass and stone as Designs Trend in Bathrooms.
It is important for real estate agents to recognize these segmented qualities before selling a house to millennials. And if you wanted to know more about this topic, you may contact us at CPD Homes through our landline at 216-282-4332, or shoot me an email at email@example.com ! We’ll be more than happy to assist you about any concerns on selling a house to millennials. – FAST!