Being one of the most active demographic groups out there, it was only a matter of time before millennials entered the housing market as well. This tendency sparked interested, but also brought up a number of questions. People are wondering what sort of houses millennials are buying, how their philosophy of life determines their real estate preferences, and if can they actually change the housing market for good. Those who follow the trends say that a change is quite visible and here’s why it is so.
Millennials Are Buying The Perfect House
One of the reasons millennials are so different from every generation before is because that they want to achieve perfection in everything they do. They might not show this tendency, yet it’s still there. That’s why they won’t just settle for any type of property, but take their time choosing something that suits them perfectly. They want a certain type of home and therefore look for spacious places equipped with at least one master bedroom, a huge garage, an outdoor deck and lots of new and top-of-the-line gadgets.
Can’t Buy A House Without Using Their Smartphone
Another thing millennials are great at is using their smartphones as an extension of their brain and relying on these nifty little things to help them get the info they need. They often use social media and real estate apps to find available houses in their area. While finding a home via a hashtag sounds quite extreme, this approach is actually working.
Millennials are hence able to find great homes in practically no time, which makes real estate agents a less crucial piece of the buying process today. If you are a real estate agent who wants to get into the game with millennials, you need to upgrade your social media skills and work on your online presence as soon as possible.
Invest As Little As Possible
The aforementioned need for perfection also means that millennials aren’t that big on home renovations and DIY projects that are required to turn a house into a home. They are after already decorated and renovated places that allow them to move in their personal belongings right away. Millennials are looking for comfort and coziness, which also means they’re not afraid to take a look at dozens of different home design options before choosing the right place.
Hang some interesting photos, place a decorative jute rug or opt for patterned blankets to lift up your furniture. Thinking long and hard before opting for a certain property is just another way of making sure they don’t need to invest more time, money and energy into their new home in the future, but can, instead, start enjoying it from day one.
The key here is that millennials may aim for a finished home with all the nicest features. They will spare no expense to make sure they are having their needs met today. This, of course, does not apply to every millennial. In fact, many millennials are more likely to live in a small, frugal space, but for those who are buying a home, they will stretch the budget as they aim for comfort.
Socially Responsible Real Estate
Eco-friendliness and sustainability are two of the most pressing issues of our era and millennials definitely have something to say about this. Since they are probably the first generation born and raised right in the middle of a major ecological disaster that regular people like to call “the 21st century,” these young individuals are trying to do their share and help the planet as much as they can.
Being programmed to think in an eco-friendly way, millennials prefer houses that combine sustainable materials, recycled resources and reupholstered or renovated furniture. They also prefer home-made décor, low-flow faucets and are ready to try out things like solar panels, wind turbines and home solar batteries. After all, this trend is more than positive because millennials are actually doing something for their own future and even inspire their parents to become a part of the green movement.
Fleeing The City
In the end, there’s one common feature that surpasses the generational gap between millennials and their elders. It’s a desire to live outside the urban area. As millennials start and grow families, they don’t want to spend their lives in small spaces, so they move outside the cities and into big suburban houses.
The housing market is always changing and it’s only natural that millennials are the ones introducing the most changes at the moment. They want comfortable homes for themselves and their future families, and their willingness for perfection and eco-friendliness is something we could all learn a thing or two from.
Happen to live in the city? Here’s how to make it financially feasible.
Author Bio: Emma B. Joyce is blogger based in Australia. She is a true home decor and DIY fanatic. Emma is interested in music and also is a big reading enthusiast. Finding new designs and patterns is her daily task. She got hooked on home accessories and decorations during her traveling and now cannot stop searching for new inspiration. Find her on Facebook and Twitter.
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