What Do Millennial Home Buyers Want In A Home?

The millennials, also known as Gen Y’ers, are the generation with tons of options and a lot more ways that help them figure out the right ones for them.

Millennials love analyzing and making very informed decisions about everything in their life, given the Internet has made this process quite easy.

They have different expectations for their lives and look for uniqueness in all aspects.  The majority of real estate markets nowadays consist of a large number of millennial home buyers.

It’s important to understand what features home buyers are looking for in a home and to know how to make sure those features are being showcased, especially when targeting millennial home buyers.

So, if you’re thinking about selling your home or you’re a real estate professional wondering what really needs to be brought to a millennial home buyers attention, you’ve come to the right place!

#1 Updated Bathrooms

Many millennial home buyers are often buying a home on a budget.  This means that buying a home with dated bathrooms that need updating is often a turnoff for millennial home buyers.

It’s important to understand what the current bathroom design trends are when selling a home.  Millennial home buyers are looking for comfort in a bathroom but also the current “trendy” bathroom designs.

#2 Updated & Large Kitchen Areas

A kitchen is not just about cooking for millennials.  Millennial home buyers are looking for a kitchen that flows with the rest of the rooms in a home, especially the living space where guests may gather.

It’s important that your kitchen is stylish and updated with integrated appliances and gorgeous designs because this is important to millennial home buyers.

#3 Smart Homes

Living in the era of technology, smart home features have impacted the real estate industry significantly and they’re a must when targeting millennial home buyers.  Homes equipped with smart home features are very attractive to millennials and these buyers are often willing to pay higher prices for these homes.

One of the most popular smart home features that millennial home buyers are currently looking for include automated or voice devices that control appliances, lighting systems, heating systems, and garage doors, such as Amazon’s “Alexa” or Google Home.  These devices are appealing to millennials because they’re also able to be controlled through their smartphones while they’re away from home.

#4 A Dedicated Workspace

Technology has rapidly reduced the need to travel back and forth from an office for work.  More and more millennials are looking for careers that don’t require a physical office location but rather can be done from the comfort of their home or remotely.

Homes that have a dedicated workspace are attractive to millennial home buyers because they’re able to envision themselves working from the comfort of their home.  One great way to showcase a dedicated workspace is to consider staging a spare bedroom or area within your home as an office.

Creating a dedicated workspace within your home is a great budget friendly staging tip that can result in millennial home buyers falling in love with your home.

#5 Location

Location, location, location!  It’s a saying that’s used on a daily basis in the real estate industry.

The location of a home is very important to buyers in general.  When it comes to millennials, it becomes even more important.

For example, if you’re selling a multi family home in the country, you need to understand that many millennials prefer to be in a location that has easy access to major metropolitan areas, so targeting millennials might not be the best game plan for your home sale!

On the other hand, if your home is located close by to many attractions, bars, restaurants, and places of interest, it’s highly suggested this is highlighted in your homes listing.

#6 Open Floor Plans

Millennials typically don’t enjoy a well-structured floor plan with rooms that have a very defined purpose.  Instead, they like to float some ideas with open floor plans that they can convert based on their needs.

They look for large spaces in living rooms, family rooms, and their kitchen, which often becomes their main entertaining space.  It’s also not uncommon to see millennials converting a formal dining room into a more creative space such as an office or workout area.

#7 Outdoor Space

When it comes to millennial home buyers, the outside of your home is often as important as the inside.

Millennials are looking for a home with outdoor space that will give them the liberty to have a BBQ with friends or to simply relax.

If you’re looking to draw millennial home buyers to your home when selling, you need to have the goal of creating an outdoor oasis in mind.

The majority of Millennials will pay more for a home that has an amazing outdoor space that features a sprawling deck or patio.

#8 Strong Community

Like location, the community is also a very important aspect of interest for millennials.

The majority of millennials are not shy when it comes to getting involved with their communities and neighborhoods. Millennial home buyers have shown an increase of interest in communities such as golf course communities and pet friendly communities.

If you’re selling a home that’s situated in a strong community, you need to highlight this!

Millennial home buyers will continue to play a large role in the real estate industry.  Since they make up such a large portion of potential home buyers, it’s vital you understand the above things they’re looking for when shopping for houses.

Homeowners and real estate agents who understand these things and who know how to highlight them greatly improve their chances of a quick and profitable home sale.