Understand the Housing Market: For Millennial Buyers

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Currently, millennials comprise the largest demographic of homebuyers. Although this is a good thing, real estate agents need to understand what millennial homebuyers are looking for in a home. First-time homebuyers should look for the following:

Great Location

When it comes to real estate, location is vital. Millennial buyers prefer homes close to their places of work in the city or town they live in. Proximity to the city is important because it offers more things to do or engage in, social amenities, and especially if it is within easy access to transportation and entertainment.

Outdoor Spaces

While this might not seem essential, millennials prefer spending their time outdoors. When buying a home, some of the things first-time millennial homebuyers look for include decks, room for gardening, and fences. Most potential first-time homebuyers look for a house with enough space to spend time with their friends, grill out, or simply relax and read a book.

Modern Amenities

A home with modern and high functioning amenities also attracts millennial buyers. At Landmark 24 Homes, we understand that making a home tech-savvy attracts potential first home buyers. Nowadays, new homes are built with updated electrical components that allow for a smart home system to be installed after the homeowner has moved in.

Low Maintenance

Although this applies to every homeowner, millennials prefer quick, efficient, simple, and long-lasting features. For example, millennials prefer hardwood floors to carpets because they are easy to clean and maintain. Low maintenance translates to low-cost repairs which is a good thing.

Another low maintenance option is Xeriscaping, which is a type of landscaping that requires little irrigation. This is an excellent landscaping idea because it is affordable, energy-efficient, and requires less time to mow in summer.

Multifunctional Spaces

Interior spaces that can be used for multiple functions are ideal for saving space and improving interaction. Millennial homebuyers prefer open floor plans where the dining, kitchen, and living areas are connected for social and practical uses. Multifunctional spaces are vital because they are practical and economize space. For example, exercise equipment can share space in the bedroom, or a home office can double as a guest room.

Buy Your Dream Home Today?

As a millennial home buyer, understanding the housing market helps you make the right choice. At Landmark 24 Homes, we offer affordable homes to meet your budget. Speak to one of our preferred lenders or new home specialist to see what plans meet your finical and lifestyle needs. Contact us today to learn more.