Millennials: What Influences Homebuying

by Jeff Burk 11/28/2020

Photo by Tatiana Chekryzhova via Shutterstock

As more millennials leave consumer and student debt behind, they enter the housing market. Being savvy researches in the information age, this demographic has begun to fuel the housing economy. Many purchase homes as singles, with a partner or even a friend or group of friends.

Where is Preferred?

Unlike past generations where singles preferred the city and couples with children headed to the suburbs, millennials like what they like. Whether your home is in the city or the suburbs, you can appeal this group of buyers. Millennials, in general, prefer experiences to expenses. Large open concept rooms with plenty of space for entertaining makes a carefully renovated home the perfect place for a young single, pair or tribe to purchase the perfect gathering place.

What's Bought?

When looking for the perfect home, millennials seek simpler styles that gel with their minimalist mindset. Because they care more about experiences than possessions, they look for living spaces that let them enjoy time with friends and housemates and don’t require too much upkeep.

If you’re considering upgrades or renovations to your home before putting it on the market, consider opening a smaller kitchen into the larger living space. Connect bedrooms to en suite baths for multi-adult households. Beef up the outdoor entertainment area with room for a firepit, speakers for music and a place for lawn games. Millennial buyers like to share their space with friends and family and are very keen on comfort. If you have any questions about how to place your home for sale in an area that you think may be a great spot for this target homebuyer, feel free to reach out.

About the Author
Author

Jeff Burk

 Professional, responsive, and dedicated to providing maximum service to my clients and customers. As a full time Realtor committed to excellence I focus on building relationships.

Seller Services: *Comprehensive Marketing Plan *Internet, print and local TV advertising *Direct Mailers *Monitor and report activity *Available 7 days a week *Accompanied showings *Flexible commission structure Buyer Services *Buyer Representative *Town Profiles *School Report *Daycare facilities *Real Estate Tax information *Cultural, historical, and recreational activities *Daily updates via e-mail