Millennials are coming on strong as a huge potential buying force in the real estate world. Because of the age, education and tech savvy lifestyles, they are likely to obtain and keep better employment across the nation, a very attractive quality for lenders and sellers. But they aren’t just shopping for ‘any old home’. Their requirements are vastly more refined than they were at this age group 10 years ago. Keeping pace with technology appears to be a top trend in what they look for in a home.
In a recent survey of 1000 millennials, aged 18-35, 77% of them prefer a home equipped with the technological capabilities they have grown accustomed to instead of what would be considered a luxury home, preferred by their parents generation.
43% are looking for a home that they consider to be unique, like themselves, and more customized, avoiding cookie cutter homes. Over half, 56%, place a higher value on the home’s tech capabilities over curb appeal.
More specifically, 84% believe technology is essential and 64% state they would not live in an a home that wasn’t up to date with the latest tech advancements.
The configuration requirements of a home have changed for millennials, as well. They prefer home offices and media centers in their living rooms as opposed to dining rooms and cabinets with fine china, another preference marked by their parents generation. 59% stated they would rather have extra space in their kitchen for a TV instead of a second oven.
Ten years ago, may in the millenial age group were not necessarily prepared for what can be a daunting reality where home ownership and maintenance responsibilities are concerned. This current generation seems unphased by the the prospect as 72% labeled themselves as handy or handier than their parents.
Today’s millenials are coming on strong in the real estate market and redefining buying and selling trends and building trends. If you are looking for a Colorado property that has many of the latest technology upgrades and advances, we can locate the perfect property for you. Get started here by answering a few quick questions.