Millennial Home Buying Preferences
Nearly every U.S. industry wants to get into the mind of Millennials because they represent such an enormous piece of the population, an estimated 70 – 80 million people. That’s why survey data from the National Association of Home Builders on Millennial home buying preferences is so important to the real estate industry.
What else are Millennials looking for in a new home?
A highly energy efficient home with lower utility bills is more appealing to Millennials than a comparable home without those features even if it costs a bit less. 84% of Millennials said they would be willing to pay 2-3% more for Energy Efficient homes. Other features at the top of their home wish list include a laundry rom, exterior lighting and storage options like linen closets, walk-in-pantry and garage storage.
Community amenities also have a big impact an where Millennials want to move. If a community had a park area, walking trails, playground or outdoor swimming pool most Millennials responded that they would be seriously influenced to move there.
Thank you for reading. I hope you found this information useful.
Jeff Pittman, Realtor in Ladera Ranch – Orange County, California