Millennials are a generation that doesn’t have a high rate of home ownership. Many millennials are content to rent and wait until they have enough money to afford something that they really like. When they are ready to purchase a home, they want a home that is just right for them, and they are willing to look until they find it.
Those who study real estate trends find among those things millennials want most in a home are an updated kitchen and bathroom, and they favor newer appliances that are modern. They want a bathroom that is stylish and functional at the same time.
Overall, Millennials do not want to purchase a home that will require a great deal of maintenance. For the most part, they aren’t looking to put a lot of energy into fixing up a house. They also don’t favor homes that will require a lot of lawn maintenance.
The majority of millennials are environmentally aware, so they will be most attracted to a home that is energy efficient. Oftentimes, they look for items like solar panels, and environmentally friendly windows and doors.
Another major feature of a home that is important to millennials is an open floor plan. They favor a home that is bright, breezy and easily accessible from one room to the next. Homes with lots of small rooms divided by doors will probably not attract too much interested from those in the millennial generation.
Location is very important to millennials. They want a home that is close to work as studies show that millennials do not want to commute a long distance back and forth to a job. Millennials also want to be close to entertainment options so that they are close to restaurants and events.
This generation grew up during the advent of the internet, and they will naturally gravitate towards homes that are technologically up to date. A home needs to have access to a fast internet connection as the millennial generation is highly computer literate, and many spend hours a day connected to social media.
These are just a few of the most important factors that Millennials are looking for in a home. As with any group of people, there will always be exceptions.