Posted by 
You must have been assigned traits ranging from scepticism to unwavering optimism. You also saw firsthand the Great Recession, often known as the economy’s collapse in 2008. However, real estate professionals all over the country are assisting millennial house buyers in renting or purchasing their first home since a sizable portion of the current workforce belongs to this generation. We will thus examine several well-liked millennial housing and real estate trends.
ARE Millennials attracted to small homes?
Small and compact homes are becoming more and more common as people work longer hours and have fewer family members. One of the biggest millennial real estate trends is that, and it’s making life difficult for today’s real estate professionals.
According to home purchase patterns among this generation, more millennials are choosing cosier flats and smaller independent segments. They favour minimalism, which is one of the factors contributing to their decision. But affordability is also a factor.
Many millennial homebuyers, like buyers of Kings Town, are having trouble making their credit card payments and paying off debts. So it makes sense to understand why most millennials think a tiny house just big enough for two people or a pet would be ideal.
Due to their lifestyle and work patterns, millennials tend to make a few similar decisions. Let’s explore some of the millennial real estate trends in more detail.
ACCESSIBLE PLACES
Have you recently seen a millennial working fewer than eight hours daily? We’re sorry to say your prospects are quite slim. This generation takes pride in being available around the clock and working long hours. If they don’t work full-time, they either work remotely or as independent contractors. This way of living inevitably impacts the present millennial housing trends.
The fight to keep a good work-life balance is still going on. Location is important since millennials prefer locations with short and simple commutes. Even when they work from home, millennial home buyers prefer to live in communities easily accessible from all sections of the city. This is one of the factors contributing to the rise in real estate property values in commercially developed areas. They frequently opt for amenities like close-by parks and schools along with safety.
TECH-AWARE CUSTOMERS
Cell phones are another element that you cannot separate from millennials. Just count how many times they check their phone while touring a property. Some people even utilise photographs to show others’ homes or workplaces.
Millennial homebuyers are avid smartphone users. Millennials struggle to put down their phones.
For millennials, using their gadgets for work and enjoyment is made simpler by dependable high-speed internet access and technological advancement. Real estate salespeople are perplexed by the frequent inquiries of millennials about connectivity and electrical outlets. This is so because many millennials prefer to charge their smartphones or work from home often.
Given how meticulous this generation can be with details, they aren’t hesitant to ask questions. They prefer calling agents or real estate firms who have included all necessary information in an advertisement. Expect a barrage of inquiries from these inquisitive minds about anything from crime rates to walkable amenities and travel times. The ideal method to promote real estate to millennials is with visuals, a feature list, and written information.
AN ANALYSIS OF SOCIAL MEDIA
The current millennial housing trends are constantly changing due to the influence of social media on thousands of millennials’ habits. It is understandable why they base many of their real estate decisions on online evaluations and social media updates. To appeal to millennials, it is crucial for businesses, marketers, and real estate firms to highlight new and rising properties on social media, especially on Facebook and Instagram.
RENTAL OR PURCHASE
Millennials are more likely to rent than to buy because they place a high emphasis on flexibility and cost. Due to their preference for paying the high cost of living in large, developed cities, despite the significant debt they carry, they are typically unable to give up renting.
PUBLIC CONCEPT
An open concept home that accommodates the entire family’s needs is another of the most popular millennial real estate ideas millennials typically favour. For example, one may watch the kids playing in the living room if they are working in the kitchen or a home office.
Since they don’t have time for stairs, millennials frequently want to live in single-story homes or apartments. Maintaining, cleaning, and organising studio flats or open-concept living areas is simpler. Furthermore, you can set them up to hold gatherings or late-night parties.
HOMES THAT USE LESS ENERGY
Millennials are serious and practical people who like to save money in whatever manner. A home with adequate windows and good lighting options can be energy-efficient and help keep utility costs down. Many homeowners are searching for less-expensive, lower-maintenance real estate options that they can outfit with smart technologies to live a hi-tech and comfortable life.
DO YOU WANT A LAWN?
Hours can be spent watering, weeding, and mowing a large lawn. Some homeowners are expanding their landscaping or adding parking places to their extra grass space. Some people choose to use and maintain a lawn by including rocks or faux grass. Here are some simple DIY lawn rock landscaping ideas.
REFERENCE-BACKED CLIENTS
Expect millennial house buyers to do their research and make critical calculations before entering the real estate market. Indeed, they are constantly looking for the top real estate brokers to assist them in researching potential properties. However, they are usually aware of the sites and building projects that are popular in the sector. To find the best properties online and connect with the top real estate firm, Millennials and Millennials do everything they can to do so.
Millennials also favour texting and emailing over phone calls, so they are more at ease working with agents who immediately respond to their messages and inquiries.
HAPPY HOME SEARCHING!
We don’t simply mean in terms of interest rates and home prices when we say that the millennial housing market is still expanding. While Generation Y favours a suburban lifestyle, millennial home buyers are also making some of Generation X’s housing decisions. This suggests that some of them also consider renting restored older apartments or moving into foreclosed homes to save money.