Millennials are buying homes, and it’s probably fair to say, they would like that deal delivered.
Those people born between 1980 and 1999, made up the largest share of home buyers last year (37 percent), according to data from the National Association of Realtors. Of those, 86 percent of younger millennials and 52 percent of older millennials were first-time homebuyers.
Millennials want different things from previous generations. While previous generations might have wanted to get away from the city, millennials are just as likely to want to be in it. So, if the city has spread out toward your once-suburban home, don’t be afraid to emphasize the location. Millennials want short commutes. They don’t like lines. They want everything delivered and that includes all the services of the city from groceries to fine dining or even fast food. They want lots of choices in restaurants and bars, and nearby entertainment.
According to the National Retail Federation, millennials are in a hurry. Millennial buyers don’t house shop casually. They are internet savvy and accustomed to doing research online. More than 80 percent of millennials look for a home on a mobile device.
Millennials are less likely to care about square footage than other generations. They prefer home features: Garages that double as recreation rooms, designer laundry rooms, and walk-in pantries that hold food, wine, and appliances.
Rick Good spent ten years in the newspaper business, including with The News & Observer (Raleigh, NC) and The Greenville News (Greenville, SC). He co-wrote, with Melinda Coleman, Rutledge to Riley: Governors of South Carolina, 1776–Present (Published by The Greenville News), and is the author of Mind Games Trivia #1 (Amazon). He has recently spent 15 years creating original trivia content through Sounds Good Mobile Entertainment and continues that with his new company, SGME Software. He edits The Smart Reader’s money, real estate, and business coverage.
