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Everything You Need to Know About 2019's Hot Millennial Home Buying Trends

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Everything You Need to Know About 2019's Hot Millennial Home Buying Trends

Find out everything you want to know about today's hot millennial home buying trends!


According to data from the National Association of Realtors, millennials make up the largest portion of homebuyers in the real estate market today. 


Because of this, knowing about the latest millennial home buying trends is key if you are in the business of selling property.


It can be tough for millennials entering the market thanks to student debt and a tough job market. At the same time, this generation is willing to give up a lot to be able to buy instead of rent. 


But not what they want in a house.  


Millennials are happy to work harder, stay with parents and bootstrap it towards owning their own home. When it comes to buying a house, however, they know what they want and are relatively particular. 


If you want your property to appeal to the burgeoning millennial homeowner market, then it is a good idea to get your head around what Gen Y buyers like—as well as what they don't. 


There are quite a number of common preferences amongst millennial homebuyers. Once you know what these are you can cater to them to sell your property faster and more effectively.  


Are you itching to find out what some of the strongest millennial home buying trends are? If so, read on.  


Nothing from the '80s 

When it comes to which period of houses millennials prefer, the most popular houses are modern, pre-WWII, mid-century and Meditteranean. But nothing from the 80s... 


Millennials tend to have a love of quality as well as materials that look real and natural. This puts laminated countertops and linoleum floor tiles right out the picture.  


In contrast, millennials either want clean-lined and minimal new homes or houses from an older period. Especially ones that still retain high-quality features such as oak window frames. Often, millennials will aim to recondition these older features.  


Millennials Love an Open Plan 

One of the most popular layout features amongst millennial homebuyers is an open plan layout.  


Considering that home design has gravitated more and more to this style of layout, the fact that it is popular with Gen Ys is not surprising. The open plan living room/kitchen is a layout that also fits in better with the millennial lifestyle.  


Unusual, High-End Floors Are in and Carpet Is Out 

Attracted to natural materials and high levels of quality, when it comes to flooring what millennials love are materials like marble, hardwoods, bamboo or travertine.  


Carpet is becoming increasingly unpopular and is even being ousted from the bedroom in some cases. So if you are in two minds whether to recarpet before you sell—you might want to hold off or rip it out. As you may not get a very good ROI on recarpeting 


Millennials Are Picky About Bathrooms 

One area of the house where millennials are extra discerning is the bathroom. Attracted to clean lines and a touch of minimalism, a dated or shabby bathroom is likely to put many a millennial off of a potential home. 


Instead, millennials prefer bathrooms that have an updated design. Some very popular features at the moment are things like brushed nickel fittings, glass and stone materials, floating vanities and vessel style sinks. 


On a functionality note, the types of conveniences that millennials look for in bathrooms are: 

  • Motion light sensors for easy nighttime trips to the bathroom 

  • Double-handle faucets that are mounted on the wall 

  • Dual-rain showerheads 

  • Handheld sprayers in the shower for cleaning purposes 

  • Power-assisted toilets and bidets 

  • Low rise toilets and bidets 


Having a superbly decked out bathroom will definitely catch the eye of most millennial buyers... And if is it attractive and elegant at the same time even better! 


But They Do Mean to Stick to Their Budget 

While millennials have an eye for quality and do not like cheap materials, they also mean to stick to their budgets. As per a recent article in Money Magazine, January 2020 by Shaina Mishkin, here are ways that millennials can determine their budgets so they know how much to spend on a home.


Most millennials have a lot on the go financially. With student debts to pay off and savings to build, millennials want to be savvy about buying a home and not waste money where it is not warranted. 


Along with rising house prices these factors are forcing millennials to settle for less in some areas. Rather than compromise on quality, location, and features, a lot of millennials are choosing to buy smaller to save money.


They Are Not Afraid to Put in Some Work 

Millennials show a distinct dislike of unattractive homes. But this does not mean that they are not prepared to put in the work to transform a home into what they want.  


Thanks to the abundance of online tutorials and guides, many millennials are able to tackle projects around the house with relative ease.  


According to a survey covered by PR Newswire, a large percentage of millennials prefer to DIY a project than to hire in contractors. Participants in the survey also reported that they gained a higher sense of satisfaction from projects they did themselves. 


Gen Y Is Big on Earth Colors 

When it comes to popular color palettes, Generation Y is particularly keen on neutrals and earthy tones. Earth toned colors such as brown, grey, green, and sand beige have been trending for some time now, and show signs of continuing to be popular.  


If you are looking to quickly give your home a facelift to appeal to the millennial housing market, repainting in a contemporary color is an easy refresh.  


They Want a Workout Room 

According to a report from the Physical Activity Council, millennials are more active and engage in higher levels of exercise than any other generation.  


Thanks to this, many health-conscious millennials who regularly workout at home want their new house to include a workout room. Or failing that, a space that they can turn into a workout room or yoga studio.  


Millennials Do a Lot of Research 

Used to jumping onto Google to fact check, research, and shop, millennials are prone to doing a lot of research before buying a home. In fact, according to statistics, 99% of millennials will go online to get information while hunting for a property. 


Because of this research-orientated outlook, millennial homebuyers are very likely to investigate things like the neighborhood of any potential homes that they like, schools in the area, and crime levels. 


Therefore it is wise not to try to oversell a neighborhood, exaggerate an area's value, or understate crime levels. If a millennial house hunter spots these kinds of falsities (which they are likely to) this will probably turn them off completely.  


Which brings us to the next point! 


Millennials Value Integrity 

Millennials are a values-driven generation who seek out ethical brands and businesses. Because they value transparency, any indication that a home seller is not being 100% honest is a warning sign for them. 


Millennials are also not afraid to publicize online any wrongdoings or non-transparent behavior on the part of home sellers and realtors. 


They Share 

Many millennials are likely to share parts of their house buying process on social media.  


This can have repercussions for realtors and house sellers.  But, for those that supply the millennial home buyer with a great experience and transparent dealing, millennials are highly likely to reward this with positive online reviews and testimonials.  


They House-Shop Online 

According to a poll conducted by the National Association of Realtors, 81% of millennial homebuyers found their homes using an app.  


Millennials are also apt to engage with things like virtual tours and 3D tours.


For these reasons, from the seller's side, it is important to market houses online as much as possible. It is also important to consider uploading virtual tours as well as ensuring that all property images are professionally taken. 


Now You Know About Some of the Top Millennial Home Buying Trends 

Because millennials make up such a large part of the housing market, it is important to cater to what appeals to them when selling a property. Fortunately, there are many marked millennial home buying trends that you can capitalize on to make your property, or that of your client's, that much more sellable.  


If you are beginning the process of selling your house, then check out our agent's page to connect with some of the country's leading real estate agents. Because the last hot tip that we want to drop is the data shows that roughly 87% of buyers purchase through an agent.  


If you are an agent yourself, then consider enrolling with us for free to gain access to our exclusive home selling technology.