Ever wonder what Millennial homeowners or home buyers want in terms of exterior and interior home design, living space layout, interior decor and other architectural elements of a house? Knowing this can help inform your remodeling choices and ultimately affect desirability and saleability of your home later on. Read on to learn how to please a millennial with your thoughtful choices of home improvements and remodeling upgrades.
Before we get started – Who are these Millennials anyway?
Millennials – those people born between 1982 and 2004 – are gradually coming of age and becoming the new first-time home buyers these days. It may be hard to believe, but the oldest Millennials are now in their early thirties! Of course, whenever a new generation takes over the mantle of first-time home buyer, the housing industry reacts: building and design trends become driven by that generation’s unique preoccupations and interests. (Remember floral wallpaper?)
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Even though there’s been a lot of buzz in the media about Millennials moving back in with their parents due to economic pressure and enormous student loan debt, they still overwhelmingly want to own homes when they can afford to. Perhaps more surprisingly, they also represent a significant portion of the home buying market. How significant? Try 35%!
That’s enough to make home builders and home designers pay attention. After all, even if they are currently buying older, cheaper, and smaller homes than their wealthier elders, those same Millennials will be the second- and third-time home buyers of the future – and they’re going to want to buy homes that make them feel comfortable. In fact, in a survey conducted by Better Homes & Gardens, 63% of Millennial survey-takers said that having a customized home suited to their tastes was a top priority. Consequently, anyone trying to sell a house in 2017 probably ought to know what qualities Millennials are looking for in a new home.