Millennials are now the fastest growing segment of people that buy homes. They are all starting to invest and look into owning their own home due to mortgage rates being low and the market being hot! So, what are they looking for in a home? See below!
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Flexible Floor Plans- functional rooms that can be multi-purpose and office spaces for more “work from home” jobs
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Avoiding Renovations- many are first time home buyers and don’t want to buy a home they will have to put in a lot of work to get to their standards
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Private Outdoor Space- most millennials want a patio or small enclosed space even if they can’t find a huge yard so they can connect with their friends and spend more time outside.
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Private Indoor Space- 15% of millennials said they wanted a more closed off floor plan rather than open floor plans (Homes.com)
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Single Family Suburb Homes- 80% of millennial buyers prefer a single family home and more than 50% want to buy in the suburbs. (NAR)
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A Convenient Neighborhood- the amount of time it takes to get to work is crucial for millennials looking to buy a home, convenience is definitely key here.