It’s no secret that millennial home buying trends are different than earlier generations. Millenials are waiting longer to become homebuyers than older generations. In fact, 21 percent of millennials surveyed said they haven’t bought a home yet because they can’t afford one. However, as more millennials are getting married and having children, they are also entering the real estate market as homebuyers, usually first time homebuyers. This begs the question – when millennials decide to purchase a home, what exactly are they looking for?
According to the NAHB, there are a few specific things that millennials hope to check off on their list when looking for their ideal home:
Style & Location
While many things have changed in the way younger generations view the world, there are a couple things that will always remain constant and this is also true of the homebuying experience. Millennials still look for a single-family home with a yard, and what matters most as is the location. This is true of most homebuyers – having a location that is central to good schools, built in a safe upcoming neighborhood and that provides easy access to urban areas for work and recreation will continue to draw buyers regardless of age.
Features & Details
Once inside the home, millennials also have strong preferences for the layout and features of their house. Design is important to this generation and they strongly prefer flexibility as an option, for example being able to utilize the open space of a dining room as a place for events but also as a workspace as needed. Not only does the millennial generation want a flexible arrangement of their home design but they also show a higher preference for specialty rooms such as exercise, game or media rooms.
Luxurious additions such as quartz countertops, his and her bathroom settings, and energy efficient materials are also draws for the millennial homebuyer. They want their home to tell a story and look for a space where they can create memories for years to come.
Tralon Homes is the ideal place for anyone to find a home, whether they are a millennial or not. Our attention to detail, variety of floorplans, incredible neighborhoods, and focus on creating an irresistible homebuying experience means you can find exactly the dream home you are looking for. Whether you are looking in Colorado Springs or Northern Colorado, we offer gorgeous homes that meet your needs and budget for you to choose from.