There’s a general sense out there in the ether that people born between 1980 and 2000 are poor. They’re a lost generation, we’re told, living in the shadow of the 2009 recession. But on closer inspection, that doesn’t appear to be the case. In fact, millennials are now the largest segment of the house buying market. Right now, millennials make around 35 percent of all new home purchases. The generation before them – Generation X – only buy 26 percent of all new homes.
So now the focus of those who are selling their homes has turned to pleasing millennials. What is it exactly that millennials want?
Modern Kitchens And Bathrooms
Millennials don’t want to have to spend lots of time fixing up properties they buy. Instead, they want properties to be ready to go from the moment they move in. They also want kitchens and bathrooms to come with the right fixtures and fittings because of their limited budgets. According to a real estate agent from Ohio, fixtures are a major financial consideration for millennial buyers. They want updated kitchens and bathrooms because they know that they’re unlikely to be able to afford new ones of their own in the future. Just be careful which fixtures you choose to install; some might not be to the buyer’s taste.
Big, Open Plan Kitchens
If you go onto a site like www.searchhamptonroadshomes.net, you’ll find many properties with open plan kitchens. Millennials don’t see their kitchens as a separate cooking space, away from the rest of the home. They see them as a place to hang out, almost like an extension of the living room. For this reason, millennials are particularly attracted to homes that blend living and cooking spaces. Millennials want to be able to do things like chat with their friends and watch TV while they’re in the kitchen. So bringing the kitchen and the lounge together makes a lot of sense to this generation.
Younger owners also entertain in a different way to their parents. They want to be able to stay connected to their guests while they prepare the evening meal. They don’t want to have to continually disappear into the kitchen, only to reappear ten minutes later.
A Home Office
Millennials have different work expectations to the generations that went before them. Most millennials don’t expect to have to go to an office or a factory every day. Instead, many see themselves as working from home. According to www.bankrate.com, more than 13 million people already work from home. With the rise of the gig economy, this figure is set to explode in the future.
Most estate agents will point out to guests whether a room can be used as a home office or not. But this often leaves too much to the imagination of the people being shown around. A better idea is to stage a room as a home office. This way you can create an instant visual association between your home and a potential place for interested buyers to work.
Millennials, as people born from the 1980s to the early 2000 are called, are often described in words like fearless, entitled, and realistic. I believe though that there is one description that describes them best and that is they know what they want and they make sure to get it. This is probably the reason why many product and service providers tend to cater to what they want. Add to this the fact that most have the financial capability and opportunities and that makes them a consumer group to reckon with.