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Millennials: What Influences Homebuying

by Julie R. Hughes 02/02/2020

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

Julie R. Hughes

Welcome to my website! Please feel free to search for your dream home or investment property. If you are interested in knowing the value of your home, please go to my business Facebook page (Julie R. Hughes Realty) for an immediate automated estimate of the value of your home . I, of course, would be honored to help you with either buying, selling or investing in real estate.

I have been a Realtor for 18+ years and have helped countless clients to make their real estate experience both pleasant and profitable. Let me help you - I know you won't be disappointed. Feel free to look at my reviews. The vast majority of my business comes from prior clients or referrals. I make it my business to do a job that my clients are MORE than happy with - they in turn refer their friends and family!

Please feel free to ask any questions you have - I will respond quickly!

Best,

Julie R. Hughes