Sponsored By GAF-Guess, who has been driving home sales for several years?
The older millennials are the most likely to be able to identify with them. Contrary to popular belief, not everyone in the 18-to 35-year-old age group is so burdened with college debt that they live in their parents basements and work as baristas for peanuts. The National Association of Realtors has officially named them the largest segment of homebuyers at 35%, up from 32% in 2014. “Home Buyer and Seller Generational Trends Study.”
And this trend seems to only accelerate.
“The coming years of housing demand will be Millennial-driven and will support the single-family sector,”Dennis Lockhart, President and CEO of Federal Reserve Bank of Atlanta has stated.
These are the four most important things Millennials desire in a home. This is something Boomers and Gen-Xers must know before selling to them. Warning: You might have to change some of your most treasured beliefs.
* Open floor plans. You’re not likely to knock down walls in your home to create a lofty feeling. Millennials entertain differently to their elders. A formal dining room doesn’t impress them.
“In essence, the kitchen is the new living room,”Bankrate.com was informed by a realtor. “They want people to flow through the home during gatherings, rather than be sectioned off in rooms.”
What is it that impresses them? A home office, given that 9-to-5 jobs are so passé. You can convert your FDR into a home office by pointing out immediately.
* Technological efficiency and healthy living. You are proud of those built-in bookcases?
Hah!
Did you know that Millennials can read everything on a screen? They’re equally likely to count outlets and ask whether you have installed motion sensors or programmable LED lighting.
“Low-VOC paints and appliances like steam ovens also rank high,” Realtor magazine declared.
* The right “look.”They’re used to seeing all these beautiful houses on Pinterest and HGTV. This means that Millennials may not be able to spend too much time admiring your steam oven if they see a shabby roof first.
This is one thing they have in common with the older generation.
“Unsightly roofs are huge turn-offs and make buyers predisposed to find even more things they don’t like,”Patsy O’Neill was a Sotheby’s Montclair sales associate.
The Washington Post is a favorite of Millennials. “modern, sleek lines”• “rustic looks”If your roof needs to be replaced, you might consider the most affordable. Sienna lineGAF (gaf.com), North America’s biggest roofing manufacturer, has diamond-shaped shingles. These shingles are frequently featured on HGTV.
“They pick up on key Millennial style trends of natural, clean materials, clean lines, and the integration of artistic elements,”Leslie Franklin is the executive director of residential Marketing at GAF.
* Low maintenance. What qualifies? “high” “low”Yours might be different from theirs. Take shag carpeting. High. Hardwood floors are a favorite. Low.
Perhaps that explains why they prefer smaller homes, though it could also be due to the Millennial buyers’ average income of $77,000.
