For generations, owning a home was the ultimate American Dream. However, for young buyers -- Millennials and Generations Y and Z-- the American dream is evolving. As a result, realtors and architects have been hustling to uncover what appeals to the developing tastes of a this important buying group, which is quickly becoming the largest segment of the market.
Here are the 6 top features young homeowners are seeking:
While a separate, formal dining room was a prerequisite for past generations, the younger market prefers open, more casual floorplans that flow from room to room. Creating a more seamless living experience will appeal to those looking to live more openly and entertain more casually.
Lighting is an easy way to instantly modernize the look and feel of a home.
Truth be told, the younger generations are not as mechanically inclined to handle home repairs. Younger buyers do not want to be burdened with much maintenance. Hiring someone to do work around the house is not an expense they are willing to pay. Therefore, homes features that pose a minimal risk for upkeep like hardwoods, granite, and energy-efficient appliances, will more likely appeal to them.
In recent years, working from home has gone from a nicety to a necessity. Young buyers are looking for spaces to accommodate this new norm. Home offices should have adequate space to accommodate the tools and equipment necessary to work, but generally do not need to be as large as a standard bedroom. Even a nook or large closet will provide sufficient space for a computer and desk, creating an opportunity for sellers to creatively use (and stage) existing spaces.
Having grown up with technology integrated into their lives, access to smart features is crucial to young homebuyers. The need for a landline or cable jack is essentially gone; instead, a house should be wired with a network connection to a router, high-speed Internet, and surround sound for watching movies and sports. In addition, they want a home that has smart devices that enables them to connect to security systems, the refrigerator, and other appliances through their smartphone. “Smart” home makeovers go a long way with this particular group of buyers, so it’s an upgrade that’s well worth the investment.
One of the most significant - and cost-effective - upgrades is to make a home look new is with a fresh coat of paint. The hottest trend now is to wrap the place in color by painting the walls and trim the same color. So, what color is most appealing to homebuyers? Choose either neutrals or get more dramatic with black. P.S. - don’t forget to give the closets a fresh coat of white or light paint--it’s a small change with a major impact.
This generation of young people thinks of themselves as environmental activists, so they are looking for homes that are energy efficient in their quest to help save the planet. Homes with solar panels, smart appliances, and other energy-saving features will add instant appeal. Check out the latest in wireless features here at Caseta.
With integration of these upgrades young buyers will be ready to embark on their dream of "smart" home ownership!
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