Despite all the news features focusing on the millennials inability to purchase their own home, it still isn’t an impossible feat. Difficult, yes, but certainly not impossible. That’s why it’s highly important for builders in Townsville to figure out what exactly this new generation of home buyers truly want for their biggest life investment. After all, not only will their imprint on home design last for many decades, but their expectations on what technology should be able to offer will certainly revolutionize housing.
According to a report released by the Consumer Insights Survey in 2014 by John Burns Consulting, this generation – comprised of 92 million people – is the largest group of potential home buyers in history. These home buyers aged 35 and below have been witnesses to many things in their lives. In addition to the expansion and recession of the housing market, they’ve also seen how the economy was rebuilt. While it’s true that compared to previous generations, millennials have to wait a lot longer before they can finally have properties under their names, things are certainly making a shift. So, it isn’t surprising that this group has very particular opinions and standards about the design elements that should be included in the homes they’re planning to buy.
Here’s a brief discussion on what exactly millennials want in their new homes and why:
Options for Outdoor Entertainment
Instead of owning huge backyards, millennials are looking for properties that would offer them a bigger outdoor entertainment space. Millennials home buyers looking to purchase their first property, where it’s a townhouse or a single-family home, consider the potential of maximizing their living space both in and out of their properties.
Open concept floorplans still remain highly popular when it comes to home design due to its functionality. But, after living in small apartment spaces or rental housing for a long time, most millenial home buyers have a huge preference for houses that have dedicated areas for specific indoor activities, such as a home office, a reading or gaming room, and huge laundry spaces. Having these areas make them feel that they’ve truly purchased a space they can call their own. For many millenial home buyers, it seems there should always be “a place for everything.”
A Unique Blend and Balance of Form and Function
Because millennial homebuyers are highly exposed to a huge number of design inspirations, especially social media sites such as Instagram and Pinterest, they are very particular when it comes to choosing finish options for their potential property. Because of this, the option to personalize their new home is never negotiable. Whether it’s the smaller details such as choosing a lighting style to bigger decisions such as choosing a floorplan, millennial homebuyers enjoy being presented with a long list of options and being able to dictate which one they should have in their own homes.
It doesn’t matter which generation you belong to. Everyone wants something that not only truly defines their character, but will also allow them to live comfortably for many, many years.