First-time millennial buyers are set to revolutionize the real estate industry. Experts are predicting that more than half of all homes in 2017 will be bought by millennials.
According to the National Association of Realtors’, a 2016 study of generational housing trends show those born between 1980 and 2000 make up the largest segment of the buyer market. Most importantly, there are certain “must-haves” in a home for this generation. Whether it’s an updated kitchen and bath or open floor plan, each buyer has a checklist of what’s most important.
So what concerns millennial buyers most? According to realtor.com, first-time buyers are worried about financial issues – can they come up with a down payment and find a home within their budget. Surprisingly millennials and boomers are alike in one area – they want to live in a safe neighborhood in the suburbs to raise a family. Find out more about these millennial buyers needs here.
Like all of us, millennials want the same “American Dream” their parents enjoyed. And their list of “must-haves” is similar to their parents too. According to businessinsider.com, top items in a home for millennials must include the latest in technology, a large master bedroom, energy-efficiency, and of course, a gourmet kitchen. Read the full list here.