There’s a new group of people coming on to the housing market that we can’t ignore, they are nothing like Generation X and Baby Boomers, welcome the Millennials!
Millennials were born between 1980 and 2000, they are the natives of technology and are making the biggest changes when it comes to lifestyle and how they choose their home.
They are not only downsizing, they are also spending less time and money on their homes, not to say that they not spending any money at all but they are being smarter about what they’re using it for. They are downsizing. The living space in the kitchen and living room start to look more like a multipurpose room. More millennials are working from home than any other generation which means that the smaller living area is an office during the day and a playpen on evenings and weekends. Let’s take a closer look at how Millennials choose a home.
“Millennials care a lot about the look of their kitchens because they like to cook at home,” says Katina Smallwood from MultiBriefs. She continues. “Consumer research firm Maru/Matchbox found that 64 percent of millennials consider themselves experts in the kitchen, and because they plan on spending a great deal of time in the kitchen, they want the design to be functional and appealing.”
The centerpiece for their homes is the kitchen island. Its open layout, with stainless steel appliances, and integrates into the living area. This makes it easy to entertain while cooking. The open floor plan changes the living area into a multifunctional space. The dark colors used in the kitchen have been replaced with white and beige wood cabinets or custom-made tiles as a backsplash to add color to the room. Quartz countertops are gaining popularity, but granite still plays an important part adding a contemporary feel to the kitchen.
The millennials have taken out the carpets and replaced them with hardwood floors, high-end tiles or raw concrete flooring. A study shows that the millennials are picking pets over people, millennial men, as it turns out, are more likely to look for companionship in pets. Among those surveyed, 71 percent of men between ages 18 and 34 had a low-maintenance dog that’s easy to clean.
Location, Location, Location
Millennials are willing to downsize their home in order to get closer to the urban cities and studies show that they are choosing smaller, more quaint, communities. The big master bedrooms with large walk-in closets have been replaced with smaller rooms where the purpose is solely to sleep. A large percentage of Millennials are mostly working from home so they don’t have a commute to work. This generation is looking to reduce the carbon footprint so they park their car and walk or bike to restaurants and bars if they are not at home entertaining friends. They want to use their weekends and free time for recreation so it has to be close and convenient.
….and the Smart Technology
Millennials need to stay connected at all times, the home needs to have the latest technology in absolutely everything. According to Proto Homes® they know what Millennials want, and that is the smart technology with Wi-Fi built into the home that enables them to easily control lighting, heating/cooling, smoke and carbon monoxide detectors, speakers, TVs, and appliances using their phones or tablets. We just wrote an article about how kitchens are getting smarter. Integrating smart technology inside the home is utterly important for Millennials, but we don’t stop there, the exterior is getting attention as well with low maintenance roofing, solar panels, and artificial turf.
Which of these 4 factors on how Millennials choose a home would you add to your list when designing your home?