Table of Contents
- Walkable Location and Accessible Amenities
- Move-in-Ready, Single-Family Homes
- Technology and Energy Efficiency
- Luxurious Outdoor Space
- Entice Millennial Buyers With Premium Real Estate Photography
Millennials account for the largest share of home buyers at 36 percent. And in 2018, millennials were responsible for over one-third of all home purchases. This generation will continue to drive the real estate market, especially as millennials become older and more financially stable.
It’s important to understand what millennial buyers — born between approximately 1980 and 1995 — want in their next home. Location, community amenities and energy-efficient features all factor into their buying decisions. Here’s what you need to know about what millennial home buyers expect in their future home.
Walkable Location and Accessible Amenities
Proximity to work and entertainment options is a top priority for this generation. Yet contrary to popular belief, the majority of millennials want to live in the suburbs, not crowded urban areas. Millennials target walkable suburban communities that are a short drive to a metropolitan area and offer opportunities for social interaction.
Move-in-Ready, Single-Family Homes
In their transition to suburban living, millennial home buyers are eager to swap their rental apartments for more spacious single-family homes. This generation focuses on updated, move-in ready houses that will require little maintenance. They want features such as new windows, hardwood floors and low-maintenance vinyl siding. That way, they can spend their weekends relaxing rather than attending to home repairs and maintenance tasks.
Technology and Energy Efficiency
Smart home features and energy-efficient systems influence millennials’ purchasing decisions. This generation is prepared to pay more for automated or voice-activated devices that control HVAC systems, appliances and garage doors.
Millennials’ desire for in-home technology also corresponds to their focus on going green. A high-efficiency heating and cooling system that homeowners can program remotely is an important selling point. Millennial home buyers want to have complete control over their system, waste less energy and save money on utility bills — be sure to mention these features in your listings.
Luxurious Outdoor Space
The millennial generation wants outdoor living spaces where they can entertain on the weekends. Must-haves include a fenced-in backyard for pets and a patio area for grilling and socializing.
Many millennials dream of upgrades such as an outdoor cooktop and refrigerator, while older generations are not as driven by these features. Millennial buyers want to create a relaxing outdoor retreat, so large yards with high-end features are especially appealing.
Entice Millennial Buyers With Premium Real Estate Photography
Most buyers, especially millennials, start their search for a new home online. It’s critical for your listing to create a powerful first impression with professional photography and virtual media.
Our products and services help realtors attract buyers and seal deals more readily. In fact, we’re dedicated to helping real estate agents sell homes up to a month faster, and our team boasts more than nine years of experience and has photographed 7,000 properties.
Interested in learning more about Real Estate Exposures (REX)? If so, read what our clients have to say, then contact us online or by calling 717-747-3235. We’ll gladly help you get your next property sold in no time at all.