What Millennials Look For in a First Home

Published 02/20/2023 | Posted by Juan Mestre

The Millennial generation (those born between 1981 and 1996) has been severely impacted by several
recessions. Millennials have been slower to enter the property market due to economic downturns, but as
they begin to financially recover, many are searching for the ideal home. Based on their lifestyle and
financial circumstances, buyers have varied wants and preferences.
Young adults are hardly an exception. The majority of people in this millennial group do share some
strong principles when buying the first home, though.

What Millennials Expect in a New House
1. Very secure area.
2. A modernized kitchen.
3. A modernized kitchen. The use of smart home technology.
4. Dedicated and practical washing room.
5. walk-in wardrobes
6. up-to-date restrooms
7. A place for a home office.
8. large garages
9. Beautiful outdoor area. and turnkey ready.

What Millennials are actually looking for today in 2023 (revision)

Affordability - Many millennials have student loan debt or are still early in their careers, so affordable monthly payments are a top priority. Smaller, more modest homes are appealing.
Move-in ready - Millennials tend to prefer homes that are updated and require minimal renovations. Turn-key homes allow them to personalize over time.
Low maintenance - Similarly, millennials like homes that won't require a lot of intensive upkeep, repairs or renovations. Features like new roofing, HVAC and appliances provide peace of mind.
Tech features - Smart home technology like Nest thermostats, Alexa integration, wifi appliances appeal to tech-savvy millennials.
Walkability/transit access - millennials prefer neighborhoods where amenities are closeby and commutes can be short. Proximity to public transit a plus.
Outdoor space - Outdoor features like a patio or balcony provide additional living space for entertaining. Backyards are nice too.
Home office - With remote work so common, having a designated office/workspace has become a must-have.
Good neighborhood - Things like safety, parks, restaurants and a sense of community help drive millennials' neighborhood choice.
Investment potential - Many millennials look for homes that will appreciate to build equity and wealth. They know real estate is a good investment.

In my conclusion, affordability and low maintenance are top priorities for millennial homebuyers today.

They favor modest homes that provide modern amenities and technology with minimal upkeep required.

Walkable neighborhoods with outdoor space and a sense of community appeal to this demographic as well.

Millennials know that real estate offers long-term investment value, so they seek homes with appreciation potential.

Proximity to jobs, transit, restaurants, and parks also rank highly when evaluating locations. With student debt burdens

and remote work arrangements, millennials aim for budget-friendly properties that accommodate their lifestyles.

Understanding these preferences allows realtors like me to match millennial buyers with their ideal starter homes.

JUAN MESTRE

REALTOR ASSOCIATE

RAISING THE BAR FOR REAL ESTATE SERVICES

CONSIDER: Since I'm not a lawyer but your neighbor, you should consult an attorney before making
any decisions.

If you wish to find your FOREVER Home or to relocate to Florida?
Please get in touch with me at 305-776-5677 or mestre.j@ewm.com.

Sourced and digested from several locations including but not limited to:
Nar.realtor, BHHS.com/blog, Floridarealtors.com, google.com, nar.org, realtor, Realtorsfr.org,
EWM.com

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