Keeping Up With Millennials in Real Estate

September 5, 2022

Relocation and ownership concept. Happy young black couple making selfie after moving to own house, sitting among cardboard boxes and capturing happy moments.

The majority of home seekers today are millennials, many of whom are entering their 30s and preparing to purchase their first property. Their housing needs are very different from those of past generations due to their tight finances, flexible work schedules, and tech-heavy lifestyles.

According to Wellington Florida Real Estate, people born between 1980 and 2000  are perfectly aware of what they want: light, simple homes that reflect their individual aesthetic and natural surroundings.

Not Quite Ready to Settle Down

  • Millennials are researchers

The development of the internet and cell phones has given millennials the power to independently examine any financial commitment—big or small. They are researchers by nature, whether they are looking for a great restaurant downtown or watching a video walk-through of their dream home.

They have access to more information than any generation, which gives them the power to change the housing market in favor of prepared and knowledgeable homebuyers.

  • They know what they want

Millennials tend to look for homes that they can still afford in the event that the economy takes a hit because they grew up in the wake of the Great Recession or on minimum wage.

  • Not afraid to move out

One thing about this generation is that they are prepared to do things their way anytime. They’re prepared to move and travel in search of stable employment, secure surroundings, and the lifestyle they desire.

A Millennial Home

  • What do millennials look for in a home?

As mentioned earlier, millennials seek a light and simple homes. But sometimes, depending on their lifestyle and budget, they take it to the next level and consider bringing in modernity. Smart Home Technology is, of course, included. Millennials had front-row seats watching the world of tech evolve so they have a desire for technology that allows them to control their appliances with a clap or a simple tap on a screen.

Open concepts and outdoor access are also a great hit with millennials. The typical “close-knit family” type of interior doesn’t really appeal to a lot of millennials today since they are more charmed by social gatherings and entertaining guests. They are also more active, therefore a nice yard with lots of space for fire pits, cookouts, and maybe a pool gets the attention of millennial home seekers.

Home seekers always look for good bathrooms, an updated kitchen, and spare space for an office or leisure area. Although they love low-maintenance houses to avoid paying for renovations and furniture, this generation has impeccable taste when it comes to design. So to effectively target millennials, it’s best to offer turn-key homes with manageable square footage.

Conclusion

The real estate market will continue to be heavily influenced by millennial home seekers. Gaining their interest can be more easily accomplished by adjusting to how they view homeownership. Make sure to keep up with classic and modern trends because millennials are always down to upgrade their homes to their full potential.