Everyone has their own preferences when it comes to neighborhood and amenities, but for young homebuyers there seem to be several common wants. We’ve asked three real estate experts to weigh in on the subject, and tell us what young homeowners are looking for when buying a property.
“With regard to amenities that attract young homebuyers, I am seeing a trend toward energy efficient appliances, LED lights, and tankless water heaters. These products save homeowners money and contribute to a smaller carbon footprint. Another amenity that a lot of young, prospective homebuyers really love to see when house hunting are vegetable boxes. This is a big trend in the Bay Area with the movement toward organic, farm-to-table cuisine and sustainable farming. Millennials are always impressed when a vegetable box is already installed in the backyard. And of course, they love the idea of a “connected home” and appliances that can be controlled by an app or via their smartphone. I think a lot of homebuyers expect certain things like stainless steel appliances, marble countertops, gas fireplaces, etc. Finding these unique amenities really makes a house stand out to younger demographics.”
Founder, Vault Realty Group
“The trend I’ve found with the millennial generation of home buyers is that they are looking for properties that are move in ready and feature easy maintenance exteriors such as vinyl siding and smaller yards. They also tend to look for homes with less square footage preferring under 2,500 sq ft. for lower heating & cooling costs. Home styles that are favored have an open floor plan, a master bedroom with private bath and a good sized family room. Numerous updates in a home are very attractive to younger buyers, such as granite counter tops, new cabinets, up-to-date appliances and renovated bathrooms. One of the most important goals is to have a manageable commute to work and to be near the city for leisure activities.”
Real Estate Consultant, Realty Executives
“Young home buyers are willing to sacrifice factors such as building equity and privacy for a location that will improve their overall lifestyle. Things such as restaurants, commute to work, walkability, environmental friendliness, landscaping and the overall vibe are key. This means many young buyers are opting to live in condos/townhomes in a more urban setting. In Los Angeles; think Playa Vista, Venice, Santa Monica (aka Silicon Beach). As prices rise square footage shrinks, but young buyers are okay with that.”
-Jonathan F. Macias
President, Macias Realty Group