Millennials Say They Don’t Want a Home Like Their Parents’
The millennial generation is showing differing housing tastes than their parents’ generation. For example, millennials say they prefer smaller, functional homes than sprawling “McMansions,” and they’re not interested in “cookie cutter” homes that look like everything else on the block. Instead, this generation of do-it-yourselfers wants to put their individual stamp on their home and make sure it reflects them and their tech-driven lifestyle.
I agree they millennials don’t want a home like their parents, they don’t want superfluous rooms, they don’t even want a living room. I have not seen a DYI mentality in the western suburbs of Boston at all. In fact I see a reluctance to do any work, painting seems overwhelming to many.
Mllennials are the next big demographic of home buyers emerging in real estate.
“It’s critical that real estate professionals understand what embodies a quintessential home for the millennial generation, which vastly differs from the traditional norms of generations before them,” says Sherry Chris, president and CEO of Better Homes and Gardens Real Estate LLC. Better Homes and Gardens recently conducted a survey of 1,000 adults aged 18-35, known as “Generation Y” or the millennial generation. “Understanding technologies to communicate with this generation is now only one piece of the puzzle for agents; smart technological capabilities must now be ingrained into the home itself.” The search for the home is online and a possible drive by, more likely satellite imagery will be used.
I currently have a relocation buyer that knows what every home/building within a few blocks of any house he will be looking at by using google walk. If he can’t figure it out I get a text to see whats what.
About 30 percent of millennials surveyed say they prefer a “fixer-upper” home rather than a home that needs only a few repairs.
I am sure there are some out there, but I haven’t seen them especially in the higher price points.
They desire homes where they can entertain, and they don’t necessarily need all the upgrades. Fifty-nine percent said they prefer extra space in the kitchen for a TV rather than having a second oven.
They’re also technology driven and they want their homes to reflect that too. Forty-one percent of Millennials surveyed say they are more likely to brag to a friend about a home automation system rather than a newly renovated kitchen. Seventy-seven percent say they want a home with technology capabilities.
This seems a bit overstated, millennials want renovated kitchens AND smart home capabilities.
They also want each room in their home to have a purpose. One in five of Millennials surveyed said they’d prefer the name “home office” be used for their dining room since that’s how they would usually use it. Forty-three percent said they’d like to change their living room into a home theatre, according to the survey.
This is an absolute, younger buyers want a kitchen, family room as one huge room and possibly an office on the first floor. Gone are the days of the dining room. I understand the living room being wasted space but a dining room? One day they might want it. I’ve seen a definite preference for a tricked out basement rather than living room home theatre, but they want the living room to be anything other than another under utilized space; perhaps that home office.