Millennials are the main reason that aesthetics and trends have been so pivotal in real estate and in marketing in general the last several years. Millenials love a good trend and they put a certain level of importance on aesthetics, sustainability, and planning ()or not planning) for the future. Agents can leverage these home trends in creative ways to find the perfect place for their young new clientele.
Sustainability
Millennials love green living. Unfortunately, when one hears "green-living" they often are reminded of another type of green - cold hard cash. Sustainability and expensive have been all but synonymous as of late -- but do they need to be? Reminding clients green-living doesn’t have to be expensive and any home can use a few eco-hacks to be more sustainable is a good tip for agents when working with any type of client because what's good for the planet is good for the people.
Agents can even consider creating a DIY eco-friendly guide with tips or starting a blog that helps teach first-time homebuyers how they can make their new homes more eco-friendly (or check back here at Elite Informer for an article that does just that in the near future).
Design
In an age of perfect photos and social sharing, an Instagram-worthy home is high on the priority list for many; millennials included.
A few things aesthetically driven homeowners are largely looking for include:
- Big and bright kitchens with beautiful or unique features like built-in spice racks, recessed lighting paired with hanging fixtures, wine coolers, and exotic stone.
- Modern bathrooms with lots of glass, stone and high-tech features like motion light sensors.
- Earth-tones and soft colors or bold contrasts.
- Open floor plans.
- Low maintenance but beautiful landscaping.
While the above trends are popular by the masses -- several eager homeowners really want the ability to control the design of their home. Whether that's with building from the ground up, renovations, or a fresh coat of paint -- buyers don't want to be stuck in any one trend or design category. Hence the recent blending of styles that has taken homes by storm recently; traditional modern, farmhouse modern, coastal farmhouse, industrial farmhouse, industrial cottage; you name it, it's blended, personalized, and in high demand.
Community
The house itself isn't the only, or sometimes even the main, concern for millennials. The community around their potential home is just as important as green-living practices and beautiful design features. Community is more important than ever in America right now in the midst of the COVID-19 pandemic -- but it's importance has been understand for a while by millennials.
The value of a "good" community is exceedingly high right now. Millennials are looking for neighborhood involvement, unique retail and dining opportunities, and walkability. The social trends are reverting back to block parties and neighborhood happy hours as well as easy access to a center (parks, neighborhood markets, etc.) of some kind by foot or bike. Young homeowner hopefuls are flocking to similar areas, luckily, and many smaller but newer developments are filled with twenty and thirty-somethings who work from home, want to be a good neighbor, and enjoy a nice walk to the local (emphasis on the local) coffee shop.
The trickiest part here is that these trends might be tough to accommodate in the current housing market where most millennial’s budgets push them out toward suburban areas. Here are a few tips for selling in these situations:
- Stress the savings.
- Highlight homes with nearby shopping and dining.
- Provide community information and show how they can get involved.
- Point out transportation options.
- Highlight communities with a high density of young people.
- Point out walking routes and nearby parks.
- Look for neighborhood amenities like clubhouses, pools, playgrounds and annual events.
Technology
Finally, we’d like to mention one home buying trend among millennials, and almost all homebuyers for that matter, that’s not going away anytime soon. Technology, of course, it's the way of the world and it's just getting started. Most buyers are using technology for every step of their home buying process these days.
Amazon Alexas, Google Homes, Smart Tvs, smart plugs and outlets, Ring and Nest cameras -- they're all increasingly popular. Maybe certain buyers want to get away from this -- but it's important to have the option at the very least to many prospective buyers.
Agents need to be sure their online presence is strong and their methods are tech-savvy moving forward. Most of the younger generations find technology makes processes like buying a home exponentially easier when a website functions well and offers them as close as possible to instant gratification. The home buying process can be tedious enough without a glitchy or poorly designed website, antiquated signing practices, and lack of quick access to all things real estate.
Keeping these trends and tips in mind will surely help agents and buyers alike continue the search for the perfect home that checks all the boxes.
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