Millennials are people, who are born between the years 1981 to 1997, and they make up the most population in the world, on the contrary to a widespread belief that this generation is not very fond of investing in real estate; the millennials are more open to owning their own home.
Indeed, most of this generation are still living with their parents, or if they get a job in other cities they move out and stay in rental homes or hostels, but it is predicted that in the next 5-6 years there will be more people opting to purchase their own home and invest in real estate. Here are some trending features in real estate that attract millennials because this generation is much different than the baby boomers.
Small homes are a significant trend among this generation, and many people prefer smaller homes but with all the benefits and amenities. The family size is becoming smaller and smaller these days, and they prefer to purchase a house according to their needs.
Office Spaces in Homes
The millennials expect to have an office space in their home, and this can be used as the study room or kids room too. Since many young people have unique career paths than the older generations and also do freelancing works or work from home, they want a dedicated workspace in their home.
Central Location and Connectivity
Location of the home plays an immerse role for millennials when it comes to purchasing a home. Essential things like hospitals, educational institution and office location play a vital part in deciding the purchase of their dream home. With location comes transportation, the millennials prefer transportation to be comfortable and accessible from their place.
Design and Technology
Many youngsters who are investing in a home does not like to buy any house they see or given to them. They are much more interested in the interior designs and like to incorporate their style in the space. Most millennials grew up in the technology era; they prefer smart homes with useful technology. Also, this should not come as a surprise, but the more charging outlets in the home, the better.
Amenities and storage space
Even though many prefer to have smaller homes, but won’t compromise on the facilities, they can get. While purchasing an apartment and flats, the millennials will make sure there are extra benefits and will make full use of it. The same goes for the storage spaces, and they prefer to have smart storage spaces even in the smaller areas.
The above are the popular trends among the younger generation when it comes to purchasing any housing properties.