3 Millennial Home Buying Trends

Sep 25, 2017
   

Millennials, defined as those ages 36 and younger, are now the largest share of homebuyers in the market. If you’re thinking about listing your home, then it’s especially important to be sure that you’re reaching this group.

So what makes them decide to put in an offer?

Think digital.

Regardless of age, looking online at homes is the first step most people take when house hunting. In fact, the National Realtor Association found that buyers were more likely to walk through the homes that they viewed online. Most realtor companies automatically list all available properties on their site, but if you’re selling, then it’s worth double-checking with your agent to make sure your house is listed online.

Some sellers have even gone a step further and purchased a custom URL. Work with your realtor to determine if this is possible with their company.
Photo of millennial home owners










Bigger isn't always better.

Millennials seem to be less interested in larger, grandiose homes than previous generations of homebuyers. This can be a big plus, especially if you thought you needed to add that extra bedroom or bathroom to sell your house. Because central, more urban locations and less maintenance are becoming more important to millennials, they’re less likely to follow the “bigger is better” philosophy.

In fact, Zillow found that the median home purchased was 1,900 square feet, while the average size for Millennials is 1,700. 

Open layouts, especially in the kitchen. 

Unlike previous generations, Millennials tend to be more casual when it comes to the traditional roles, rhythms and ceremonies related to dinnertime. As such, the desire for formal dining rooms are out and open kitchen and dining areas are in. Lou Cardillo of New York’s The Lou Home Selling Team said it best:

The kitchen has become the hangout room along with the family room. An open space that can easily transition from kitchen to TV room is high on the list of the perfect home for young buyers. In essence, the kitchen is the new living room.