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2016 Real Estate Trends: Attitudes among Millennial Home Buyers

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Once marked as “the lamest generation” by The Daily Beast because they were too “self absorbed” to consider getting married and starting a family, millennials are finally getting up on their feet and becoming the leading home buyers in U.S. According to National Association of Realtors, those born between 1980 and 1995 represent 30 percent of the total home buyers. Since they comprise such a major part of potential buyers, it is important to meet their needs and desires. The sellers should be aware that updated bathroom fixtures and hardwood floors might have been pleasing for their parents, but millennials want their homes to have some other features too. Here are some of the things that could be decisive for the purchase.

Low-Maintenance

The average working hours in U.S. are between 30 and 50 hours per week, and some jobs which require the 24/7 attention, can even require 70 hours a week.  This leaves little time for socializing, spending time with family, and let alone cleaning and maintaining the house. Millennial buyers will, mostly for that reason, search for houses with low-upkeep features. Wall-to-wall carpets are a major repellent for potential buyers, while wooden floors will have a better appeal. Other low-maintenance features are granite countertops with a pattern that can hide crumbs and scratches much better than a solid color, stone floor, etc.

Home Office

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Since we are already mentioning job trends, we have to point out that in 2013 one in five Americans worked from home, and that number keeps on rising. It should not come off as a surprise then, that most of millennials in search for their ideal home wants to have a room to base their home office in, or, even better, an already designed home office. That room should have plenty of natural light sources and separate entrance.

Energy-Efficiency

The new generation of home buyers is well aware of the importance of being eco-friendly, especially when buying a house. They are thinking ahead on the future of this planet, but also on the more modest results, such as reduced energy bills. Some of the desirable features when it comes to energy-efficiency are a proper insulation and double-glazed windows. It is also useful to consider designer lighting, which can simultaneously represent a decorative element and save energy, if you use LED lamps.

Open Concept

The generation of millennial’s parents searched for formal dining rooms when they were buying their houses. A lot of things have changed since, and now, younger buyers are requesting open concept kitchen and an open home plan. The millennials have surpassed the formality of the dining experience and they consider both the kitchen and the dining room a place to “hang” with their guests.

Laundry Room

According to the National Association of Realtors, the buyers will value additional storage space and more than 90 percent of them consider a separate laundry room to be a crucial feature to make the purchase decision. The laundry room provides them with convenience which is of the utmost importance for today’s home buyers, and furthermore, offers them additional storage solution. Investing in such project may seem costly at first, but it is worthwhile, on the long run.

Keeping up with the Trends

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Millennials will appreciate a house that is decorated according to the latest design trends, rather than observing an empty and bland space and using their imagination to conjure what it could look like. Also, deciding for one cohesive design is much better than going for the eclectic appeal. Some of the timeless design elements can be implemented, while painting and arranging accessories can bring a breath of fresh air into the space. A major interior design trend this year, for instance, is painting the house with Pantone’s twin shades of the year, Rose Quartz and Serenity.

Easier Home “Hunting” Experience

Today’s buyers do not have the time to go from house to house and searching through tons of “for sale” ads. Instead, they prefer to have a digital “sight for the eye”. Due to that reason, many home sellers are hiring professional photographers to capture the “better side” of their homes and present it in the best possible way. Staging a home with furniture and accessories can be an additional plus.

It is clear that millennials are complex and choosy buyers, but who could blame them? Buying a house is a decision that is not to be taken lightly, since it is a choice for a lifetime.

download a concise guide for the first time home buyer 

Author bio: Chloe Taylor is an art historian and recreational ballet dancer. She is passionate about photography, dance and music. Her biggest dream is to travel the whole world and take stunning photographs of beautiful places. Chloe also enjoys learning and writing about interior design, real estate and small business, since she is crazy about blogging. You can find Chloe on FB and Twitter.

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