Today, millennials now composed the largest cohort of home buyers. According to Statista, about 357,000 first-time homebuyers are recorded in the U.K in 2019 — the highest value registered in years.
As the oldest of this generation is entering 40, millennials redefine their priorities — that is, getting married, starting a family, and buying a house.
Since this generation is now dominating the real estate market, sellers and agents alike wanted to know what piques the millennial interest. What exactly do millennials want in their homes?
Each generation wants something different, and millennials are no exception. Just as millennials are revolutionizing every industry, millennials impact housing development and the overall real estate industry. Thus, it is worth knowing what features and amenities these new generations of home buyers want in their future homes.
Home Features & Amenities Millennials Want in Their Homes
1. Location, Location, Location
The location has always been a crucial factor when choosing a home. Regardless of what generation you are from, it will always be one of the deciding factors whether to buy the house or not.
For millennial homebuyers, they prefer to live in homes that offer the three important elements: live, work, and play. Neighbourhoods that resemble their suburban childhood experience and proximity to major commercial centres, workplaces, and schools are necessary.
2. Plenty of Outdoor Spaces
Millennials truly love the planet Earth. The majority of millennials are advocates of sustainability. Thus, it is not surprising that this generation enjoys outdoor spaces so much. They want to be one with nature.
Plus, having a huge lawn or yard allows millennial homeowners to relive their childhood days. So, to make your property sellable to millennials, do not forget to vamp up your property’s outdoor space.
3. Large, Open Kitchen Concept
While boomers prefer a more formal dining room set up, millennials wanted an open floor plan.
Millennials prefer larger and wider kitchens that allow easy access and smooth traffic flow to other areas of the house like the living room and dining area. Millennials value interaction and sociability in that they prefer to entertain guests while they are busy in the kitchen.
4. Modern Amenities
For most millennials, space is not a huge issue. In fact, a lot of millennials fancy tiny houses. Most millennials adhere to the concept of minimalism, be it in managing their finances or their lifestyle.
Nonetheless, millennials do want high-tech and modern amenities in their future homes. This generation understands the value of technology in keeping homes more energy-efficient, secure, and comfortable.
5. Environmental Sustainability
As mentioned, millennials are more environmentally conscious than the older generations. Carbon footprint reduction is the priority for most individuals from this generation.
Considering this, it should not be surprising if millennials prefer homes with solar panels and wider windows.
Millennials also prefer growing their own food. Whether renting an apartment or actually owning a home, millennials strive to grow their own kitchen garden in any available outdoor space they have — even if it means just the window sill.
6. Low Maintenance
Dubbed to be the “microwave generation,” among others, millennials want their future homes to be low-maintenance. This means flexible furniture pieces, hardwood flooring, and strategic landscaping.
But do not fret. There are still those millennials who prefer the typical carpet and flooring. Opt for materials, however, with low VOC content. Some of the best choices are wool, sisal, seagrass, jute, and nylon. Though nylon is synthetic, you can be assured that this material stays durable for a long time.
7. Home Office
Millennial employees value work-life balance so much that they popularized the concept of telecommuting. Remote work is not an unusual concept among millennials. Pretty much these days, it is common to hear of a young professional who works from home.
Given this fact, millennial homebuyers are also looking for homes that have a built-in home office. If there is none, a spare room that can easily be transformed into an office space is still a good option.
8. Separate Laundry Room
It is not a common fact, but many millennials actually prefer buying houses with a separate laundry room. This feature is one of the top priorities of millennial homebuyers hunting for houses. Statistics showed that an overwhelming 90 percent of millennials agree that a separate laundry area at home is a must.
In fact, most millennials are even willing to sacrifice the extra spaces in the living room or bedroom. But not the same thing goes when it comes to laundry areas.
With these ideas in mind, you can see what millennials consider important in their homes. What other features and amenities do you think millennials want in their future homes?
