The Millennial generation (those born between 1980 and 2000) is currently the second largest segment of homebuyers behind Generation X. As this group is only expected to grow, it is important to understand the different wants and expectations of younger buyers.
Here are 6 home “must-haves” of homebuyers under 35:
1. Updated kitchen and bath. The majority of Millennials are looking for updated kitchen and bathrooms because they simply cannot afford remodeling. “Most of their savings will go toward the down payment and furnishings,” explains Jack Curtis, a real estate professional in Dublin, Ohio.
2. Big kitchen, open floorplan. The kitchen is the center of the home and seen as a hang out place for many young buyers. In addition, Curtis says that “today’s young buyers are also more attracted to an open floor plan, rather than a layout that compartmentalizes the home”.
3. Home office. Due to advances in technology, many Millennials now have the option of working from home making home offices more appealing.
4. Location. Younger buyers tend to see location differently from their parents, says Chicago real estate broker Allison Nichols; “My younger buyers look for properties that are in proximity to public transportation and that have a good walking score.”
5. Low maintenance. According to broker Lou Cardillo, “Younger homebuyers prefer low upkeep features in their homes such as hardwood floors and granite countertops because they are attractive and hassle-free.”
6. Online photos. Younger buyers tend to start their searches online, which makes good quality photos more important than ever. According to the National Association of Realtors, 90% of buyers use the internet to search for homes.
The article can be found in its original form on ABC News.