It’s a well known fact that the Millennials are a driving force in today’s real estate market. The people in the Millennial generation are looking to purchase their first home. And they are very specific about what they want in a home.
Millennials have grown up with the idea that they can do anything they want and go anywhere . And they want it all. They may be looking in the market to buy several times before they actually proceed with a purchase.
They do have concerns. They wonder if they are going to be changing their career. They are not always certain whether or not they will be starting families. Many are in contract jobs and are not certain that their contract will get renewed.
One feature they want in a house is a spare room they can use as either an office or a nursery. Or possibly they can rent that spare room and generate some extra income.
Millennials typically are deeply in debt. Many of them cannot afford much than a basic small house. But they do understand that potentially they can create value in a bigger home if it’s in question will condition and they can fix it up. But they are confident and educated. They watch TV shows about how to flip[ houses,and are often interested in investing in a handyman special.
Important features in a home are location and the neighborhood. It’s not uncommon for a Millennial work a job that is not a the typical nine-to-five job. They want to be close to restaurants. Delivery options are important to them. They often work from home so High-speed internet availability is a priority for them. And often they would rather walk to work.or ride a bicycle
But even though they seem to prefer living in an urban environment, they may have to purchase a home in the suburbs rather than in the city. They like the convenience of living in a city, but financial constraints often compel them to buy a home in the suburbs.