4 Things Millennial Homebuyers Are Looking For

Posted by Gurpreet Ghatehora on Sunday, June 25th, 2017 at 2:10pm.

Selling homes to millennials can be tricky outside of major urban areas. More and more millennials are looking to buy their first homes because the rental rates are rising so quickly. But millennials are notoriously picky when it comes to buying property. They know what they want and they can afford to wait if they can’t find exactly what they are looking for. Millennials may not be interested in the older homes that are on the market because they expect new finishing’s and homes that are equipped for modern technology based living. Here are the 4 things that Millennials are really looking for in a home:

Open Concept Floorplan

MLS EdmontonThe days when people wanted a home to have many small closed off rooms are over. These days it’s all about the open concept floor plan. Buyers with families want open concept spaces so that they can keep an eye on the kids while doing other things. The number one thing that people selling older homes can do to interest Millennials in their home is open up the floor plan. The kitchen is now becoming the hub of the home and people want large kitchens that flow into other spaces. Formal dining rooms are quickly becoming a trend of the past.

Bonus Space

Modern living is all about flexibility and Millennials want flexibility in their home spaces too. Millennial buyers are looking for homes that give them bonus spaces beyond extra bedrooms. They want loft spaces, finished basements, or other types of bonus spaces that can be used for multiple purposes. These days people need more than just living space at home. They also need a home office, a home gym, a theater room, man cave, and many other types of spaces. A home with bonus space is going to be attractive to Millennials.

Energy Efficient

Millennials care about the environment and lowering their carbon footprint and energy usage. They want to buy homes that are already energy efficient. Replacing appliances with energy star certified appliances is a good way to attract Millennial buyers. So is adding a solar grid. Giving an older home an energy efficiency makeover is a great way to catch the attention of Millennial home buyers.

Smart Tech Ready

Remember when the kitchen desk was the hottest trend for new homes? Now smart home readiness is the new trend. Homes that are smart technology capable sell much faster than homes that aren’t. Technology is a part of daily life, especially for Millennials. They want charging stations all over the house, smart lights and smart locks, and other smart home technology. Appliances with Wi-Fi enabled touch screens are also very appealing to millennial buyers. The key to attracting Millennial buyers is to give them options. The more options a home has the more interested they will be in that home.

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