What Do Millennials Look For In A New Home?
In 2018, millennials represented the largest share of home buyers at 37%, according to the 2019 Home Buyers and Sellers Generational Trends Report by the National Association of Realtors.
While it is “difficult to generalize” about the buying habits of more than 73 million people, according to Washington Post contributor Michele Lerner, a number of real estate agents and experts have observed a number of trends among their millennial customers. Observations include a desire for a sense of community, a lack of compromise on the condition of the home and unwillingness to renovate early in the ownership process, and a preference for high-tech environments.
“As a whole, millennials are very interested in a sense of community and place a priority on the neighborhood,” says Kerron Stokes, a real estate agent with Re/Max Leaders in Denver. “Younger millennials in Denver are often buying their first condo or a house where they can bring in roommates to share expenses. Older millennials are selling their urban homes and moving toward the suburbs where they can be closer to the mountains and to good schools.”