“Millennials are a big deal for property developers. Everyone’s keen to sell homes to this big demographic, so it’s important that sellers understand what they’re looking for” said Newington Green estate agent, M&M Property. And their tick list is pretty big. Let’s take a look at a few of the biggest priorities:
Easy Home Working
One of the biggest things the average 27 to 35 year old looks for in a new home is plenty of space to live, work and play. With more and more people now working from home – both regularly and on odd days – they’re looking somewhere that makes it easy. Homes that have good internet connectivity are a must, as are bright, light spaces and open plan areas.
This is number one for the vast majority of millennials, who have found it much harder than previous generations to get a first step on the property ladder. “They’re looking for affordable housing opportunities, flexible payment plans and good value for money” LDG told us.
Think millennials are all about the mod cons and glamour? Surprisingly, they’re much more practical in their tastes. Homes that are light, airy and functional are much more popular with the under 35s than bling and high tech appliances.
Functional, well designed homes that are energy efficient and allow for that special work/life combination are high on the average millennial’s list. Alternative energy sources such as solar power are very popular, and the vast majority of younger people interviewed have said they see the kitchen as the centre of the home. Houses that offer a great space in which to cook, eat and socialise are likely to be winners.
Until recently, younger buyers often had to accept the fact that their first home would come with a poky garden if they were lucky. Now they’re looking for a breath of fresh air. Modern designers are combining the outdoor with interiors, and properties with large windows, cleverly designed gardens and easy access to green spaces are more likely to be snapped up by millennials.
This has always been an important one, but perhaps particularly so with millennials. Young professionals want easy access to work and play, so properties close to good transport links and easy access to bars and restaurants are more likely to be considered that those in the middle of nowhere. Close proximity to good schools is also a winner.
Millenials are a savvy bunch who don’t just want somewhere to call home – they understand that buying a house is a huge investment that should also help them grow a nest egg and plan for a financially comfortable future. “They’re likely to do their research, seek advice from financial experts and shop around for a great deal, so don’t expect them to make a snap decision just because they’re young” said Eden Harper.
The under 35s are an important demographic who know what they want and will keep looking until they find it.