Buyers from the Gen X and Millennial age are a different breed than their predecessors. They’ve grown up with Google and smartphones. Mortgage calculators are apps on their cell phones. They can snap a picture and know the worth of the home. There are more singles–including a large increase in single women and “mobile professionals”–buying now than ever before.
So it would make sense that the GenXers and Millennials would have a different wish list as well. Better Homes & Gardens Real Estate took a survey of these buyers to find what they are looking for and what they found is that this new era of buyers are not the same married couple looking to settle in the suburbs as their parents. According to Better Homes and Gardens Real Estate, they are “rewriting the rules to home ownership and reinterpreting traditional norms to fit their values.”
So what does this mean? Well, the home will begin to evolve just as these new home buyers have. In no particular order, here is a list of the top five must have’s that the survey says are on the young home buyer’s wish list:
For generations that have grown up on technology, it’s no surprise that GenXers and Millennials are looking for high tech rooms to support surround sound, large screen TVs, and automated homes. Young homebuyers are craving not only the entertainment space, but the capability to remotely control temperature settings, lighting effects, and front door locks.
Monster Walk-in Closets
Walk-in closets have been a must-have for a little while now, but GenXers and Millennials are beginning to dream one step further. Dream closets closet organization systems and islands are beginning to pop up more and more frequent. Many people are even considering cutting down from 4 bedrooms to 3 to make room for the large closet space needed.
Home Office space
Many people now work way into the evening–or weekends–or every day if you’re a telecommuter. A designated space to compartmentalize work life into and spread out the mess. And there’s tax benefits too!
Believe it or not, carpet was once in style. People liked the plush softness under foot. But nowadays it’s all about the wood. Wood floors opens up a space and feels cleaner to today’s home buyers. And the ick factor of what’s hiding in those fibers isn’t an issue. In particular, bamboo is gaining in popularity due to it’s sustainable nature.
Younger buyers are more “location, location, location” than ever–and I’m not talking the bigger the better. They’re looking for public transportation, restaurants and shops to walk to, or buildings with services. More young buyers are begininning to look at that large yard or pool and think stress and upkeep than relaxing peacefulness.
If you’d like more information on the San Fernando Valley or Los Angeles, or to have help looking for your next home, please feel free to reach out! I’m happy to help, no obligation.