What Millennials Want in the Housing Market
Millennials are born between 1980 and 2000 and are thought to be a group driven by the technology revolution and fed by avocado toast. Certain characteristics and manners have influenced society’s overall viewpoint of this generation, such as the increase in single-parent families, the higher likelihood of college enrollment — and student loan debt — and many observations on their work ethic.
However, one place millennials are swiftly increasing their presence is within the housing market. Members of Generation Y are ready to invest in real estate, making up 35% of the homebuyer group. As traditional family structures are changing, so are the demographics of those interested in purchasing a house, progressively made up of unmarried couples, single women and nonfamily roommates. With this diverse group, how can you be sure to attract a buyer? Read on to learn about what millennials want in a home.
Because millennials are so dominant to the housing market, it is critical that sellers adapt to the increasing demand. Understanding what is important to Gen Yers will help the process for both parties. Learn more from the accompanying infographic and be prepared with our tips on how to appeal to millennial homebuyers.