How Are Millennial Home Buyers Changing the Real Estate Market?

By the age of 30, around 42% of millennials home buyers will own their own home.

With around 72 million millennials in total, that means about 30 million homebuyers joining the housing market! There’s no doubt that millennials are taking a large chunk out of the property market.

But, how are they changing housing demands, and what do you have to consider if you want to sell your home to a millennial? We explain everything you need to know in this guide.

Read on to find out more!

The Right Location

When it comes to millennial home buying trends, there’s one factor that seems to stand out among this generation; location. Millennials are a generation of convenience, having been brought up in the era of microwaves meals and Google Maps. Their desire for homes that are close to where they work, places they like to shop or hang out at, and good transport links reflect that, and they’re unwilling to compromise!

But it’s not just convenience that has made the location of property so important. Millennials are also concerned about living in safe, nice areas, be it urban or rural, and will pay more for a property in a decent area. If you’re selling a home to a millennial, it better be in a prime spot!

A Bigger Focus on Outdoor Spaces

The fact that millennials spend more time outside than the average outdoor consumer means that this point makes perfect sense. Millennial homebuyers in Long Island and across the US are driving the demand for usable outdoor spaces, including lawn gardens, patios, and even balconies! No matter the format or how big your space is if you have access to the outdoors in your property make sure that it’s well advertised.

We’d also recommend showing how the space can be used. One of the key is to give potential buyers inspiration for what they could do with a space without planting your own stamp all over the house. So don’t go too far, but a couple of garden chairs and a potted plant or two wouldn’t go amiss!

It’s All About Smart Tech

Millennials are the generation that is most invested and enthusiastic about smart technology in homes, which could make it a real selling point. Smart homes are those that integrate technology into the layout, for example, they may have a wireless, digitally controlled speaker system installed across rooms or a thermostat that be controlled remotely via an app. It’s these kinds of systems that will have millennial buyers falling head over heels with your property.

Smart technology in homes makes buyers feel safer, healthier, and most millennial homeowners already use at least one smart home feature. If you don’t have any yet, you could consider adding a feature or two to set your property apart on the Nassau County market.

Connection is Key for Millennial Home Buyers

Open plan living isn’t a new thing, but millennial home buying trends are making it more popular than ever. As a super social generation, this shouldn’t come as a surprise. Opening up a space and combining rooms is great for hosting guests and increasing connectivity in the home!

For example, a lot of millennials favor kitchens that are incorporated into a dining or living room area. However, the space does have to be big enough to do this comfortably and not create a cramped feel where space is at a premium.

If you opt for an open plan kitchen and living space, a great way to blend the two together is with an island. It segments the two areas to give defined zones and is a huge selling point.

Don’t Forget to Save the Planet

If you’re wondering what do millennials want in a home? then don’t underestimate the power of eco-friendly living. As the most sustainable generation the world has ever seen (so far), ensuring that your property is created with the planet in mind. Some ways that you can incorporate environmentally-friendly design into your property is by:

  • Creating insect-friendly spaces in your garden
  • Investing in proper insulation to improve your energy rating
  • Installing solar panels or solar water heating
  • Using renewable materials to build and decorate the property
  • Minimizing plastic around the property
  • Using reclaimed materials around your property

Easy to Maintain the Beauty

We mentioned earlier that convenience was important to millennials, and that’s important in the maintenance of the house, too. They want beautiful homes that don’t take hours every day to keep looking their best! For example, they often prefer wooden floors in living spaces (not necessarily bedrooms) that are much easier to keep clean than carpets, and decking made of recycled synthetics or composite over wood.

The key is to balance gorgeous decor with low maintenance. Because, while millennials do want a home that’s easy to look after, they don’t want that to mean a plain property. It might be tough, but if you get it right it’s on to a winner!

We’ll Help You Target Millennial Home Buyers

Millennial homebuyers aren’t the future property buyers, they’re the people that are snapping up homes right now. Ensuring you target them when advertising and marketing your house is essential if you want a quick sale, especially in a young city like New York! Our team can help you with that.

We have a whole team of experienced realtors who work in the Nassau County area in Long Island. From Bellmore and Garden City to Seaford and Wantagh, we’ll help you sell your home quickly and without hassle. To find out more, feel free to get in touch with our team today – we’re always happy to help!

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