The tech-savvy, smart generation of millennials contributes to more than 40% of the housing markets according to NAR 2019 Home Buyers and Sellers Generational Trends Report. That’s certainly a whopping amount and has influenced the trends in the housing market in an influential way.
The millennials are smart and care for their independence, security and safety. Their criteria of choosing the house are dynamically different from Gen-Xers and Baby boomers. The wave of change cannot be ignored and in case you are one amongst millennials or helping one of them to look for a new house, certain dynamics cannot be ignored. More than 75% of this segment looks for homeownership as a long term goal while 73% consider real estate a profitable investment.
What are the Most-sought after Features in a Home by Millennials?
The new-age You Tubers, Twitter builders and Instagram users have a different perception of the house. According to the best realtor in Greater Toronto Area (GTA), PranavPuri, here are a few not-to-be missed features for the housing needs by millennials:
- Modern Traditional
Millenials want elements of the traditional culture of the bygone era perfectly blended with an uber-modern house. They look for state-of-the art kitchen, house with an outdoor pool and separate his-her bathrooms, but as far as the structure is concerned, the Mediterranean stairs, the Greek domains and the mid-century details are their favorites. “‘Modern-Traditional’ is the house that the millennials seek,” confirms the best realtor in Toronto.
The generation of millennials has high student loans and debts in their booty. So pricing remains their topmost priority. They look for homes that are on minimum pay cut or rents. The best real estate agent selling or buying houses or apartments in Ontario suggest that home pricing is an important factor and can make or break a decision.
- Social Media Friendly
Millenials want their homes social media friendly from day one. ‘Let me first post’ is the mantra they live by.PranavPuri, the renowned realtor of Brampton makes sure the houses he sells to this age group of 25-35 years are attractive and can appeal social media.
Even the pictures uploaded on the net by the realtors for buying or selling an apartment should be focusing well on the interiors and exteriors highlighting well-lit rooms and preferably sans filters.
- Amenities Near-by
The time wasted in commutation, the time wasted while stuck in gridlocked traffic or the time spent to get the basic amenities are the opportunity costs of the time the millennials will spend either on their work or in relaxation.Pranav says millenials are moving more towards suburbs in Ontario because of proximity to amenities in their locality. They look for a home with a reputable school, medical facilities and nice grocery stores in the vicinity.
If you add to this pet-friendliness, a fitness center and an overall sense of community, the property in such an area would work very well for the millennial.
- Embrace Technology with Arms-Wide Open
They want a house full of modern top-of-the line equipment which can be connected to smart phones and operated with ‘just a click’. The house which works in sync with the apps like home security locks and other smart features are the trending millennial housing choices. The best-selling properties in GTA are stay-on-trend, tech-savvy houses.
Over to You
Millennial is a generation of avid researchers who would research extensively before making any investment or even before consulting an experienced realtor. They are well-acquainted with the house watching a video-walk-through tour of the house. An experienced realtor like PranavPuri from Home Life (www.propertyzonecanada.com) Canada states that this is a generation of informed home hunters. They know what they want and they seek their own space for work, rest and relaxation at the click of a button. Fully furnished upgraded rooms, bright day light and of course high-speed internet are the quintessential requirements. For any queries or advice, seek the help of this young and dependable realtor in GTA and start your way to a happy life!