It’s a popular belief that millennials are a generation of renters. New surveys suggest an entirely different story, however.
For one, a survey of millennial New Zealanders shows that a lot of young people are buying homes and are willing to buy homes, given that they have a spouse or a friend whom they can split the costs with. This is a reality not just for New Zealanders, but also for other millennials from different parts of the world. Millennials are out there in the buyer’s market.
And if you’re one of those looking at tapping this huge market, then you may want to start thinking about what millennials want in homes.
1. Space, Space, Space
Millennials are used to cramped, shared apartments so they can save on rent. But when buying a home they could call their own, they want more space so they could connect with families and friends more naturally. Open layouts appeal to them, which is also the reason office environments have changed in the last years. Catering to millennials, the workplace shifted from traditional cubicles to open, creative workspaces.
Millennials are very eco-conscious. They like sustainability, energy efficiency, and natural materials. Natural light is a big thing for them because it reduces the use of electricity. House designs that allow a steady stream of natural light are a big plus for millennials.
You may want to add huge windows for that function. Glass may also do the trick. Since they don’t block the light, you can ensure that the space is beautifully and functionally lit.
3. Tech Taking Over
This generation grew up with improving technologies within their reach. There’s no way you can distance technology from millennials. In fact, the very process of house hunting starts on their mobile phones. Technology is a huge part of their life—and rightfully must be integrated into their homes as well.
Contrary to earlier surveys, millennials are getting into the property market. Know what they want so you won’t miss this huge market opportunity.