Home is where the heart is, regardless of your age, but what millennials take to heart and are looking for in their next home is evolving rapidly. For starters, millennials live in the now, with a determination to enjoy life to the max and don’t view their homes as a long-term investment as they know their tastes, styles and needs will change as they age.
Plus a home is not the status symbol it is to baby boomers. Having the ‘right address’ is not as important as being a part of the ‘right community,’ which offers proximity to locally-owned restaurants and stores and easy access to parks and trails.
Owning your own home may still be the American dream, but the timing is changing drastically. Millennials have a tendency to be financially conservative; as many saw their parents suffer through the recession and foreclosures, so they are interested in putting down a higher down-payment for homes, rather than just qualify for a big loan.
With a large chunk of their monthly budget dedicated to student loan repayment, millennials are keen for rental options that are affordable and forward-thinking.
2. Informal and functional
The interior layouts that millennials prefer have fewer walls or partitions to better utilize what tends to be a smaller space. Multi-functional spaces have long surpassed the desire for formal dining spaces and studies, as the millennial is as likely to work from the couch as the kitchen counter. Bolder colors have replaced the typical baby boomer beige, while the industrial look of weathered or repurposed wood and metal furniture has replaced shabby chic, but oftentimes, it’s all blended in the name of comfort and individual style.
Interiors with lots of outlets and flexible placement of charging stations are also appealing, while LED lighting, energy-efficient heating and cooling systems are highly-preferred. Renewable and reclaimable materials, such as bamboo and glass, appeal to the millennials commitment to the green and healthy lifestyle, as do low-VOC paints and adhesives. Additionally, since millennials work long hours and have many interests, so they often prefer materials that require minimal maintenance, such as faux wood or porcelain tiled floors.
And less is more to millennials when it comes to embellishments. Since tablets have surpassed hardcover books in popularity, built-in bookcases have lost their appeal. Traditional details and materials are no longer a priority, yet a millennial with a passion for java will not hesitate to purchase the top-of-the-line in coffee machines and gear.
3. Easy indoor/outdoor living
Millennials treasure their time outdoors, but have a different approach as to how to best enjoy it. Rather than massive yards and shrubs that need regular maintenance, they are content to enjoy balconies or terraces adorned with succulents. Sharing a garden, common area or green roof space gives millennials all the fresh air benefits, without the responsibilities, while creating a stronger sense of community.
Along those same lines, millennials crave light and air in their interior designs as well, which suggests big windows, skylights and glass walls to maintain an open and airy environment.
Overall, millennials are more committed to enjoying experiences than to cluttering or complicating their lives with stuff. While millennials will eventually go through the same life stages as previous generations, they typically don’t feel the urgency to meet the same timelines, which gives them time to enjoy the journey. And that’s something every generation might do well to learn.
For more information on how Avilla Homes might be right for you, please contact us at firstname.lastname@example.org or via phone at 480-361-6199.