Are Millennial Home Buyers Changing the Real Estate Landscape?

Posted by Blanchard and Calhoun on Monday, October 28th, 2019 at 7:00am

Millenial Homebuyers

Millennial homebuyers are most definitely changing the Real Estate landscape. Although the internet has changed things for almost everyone, these digital natives are far more reliant on the internet than the previous generations. Millennials research everything and they know exactly what they want.  With tons of options and available resources, Gen Y’ers, are very informed decision-makers. When looking for a home, they will most likely turn to the internet and not from a computer, but from their phones. So, a real estate app with professional photos opens the door to millennial homebuyers. 

With a long wish list, Millennials are expecting everything to be just right before signing a contract. Research shows the top FIVE things Millennials look for when buying a home: 

  1. Smart Homes:  Great reception and access to high-speed internet is a must 

  2. Location:  The Suburbs is most likely preferred,  offering a lower cost of living than the city.   A neighborhood that is a short drive to work and entertainment is a plus. 

  3. Move-In Ready, Update Homes: With college debt and new bills, millennials usually do not have a lot of money or time for renovations.    

  4. A Home Office: More and more careers are now offering work-at-home options.  A lot of Millennials are now telecommuting and they want a home office. 

  5. Outdoor Space:  A desirable outdoor space for pets and entertaining is also on top of the wish list. 

Although Millennials will continue to make up a large portion of potential home buyers, most of all buyers today aim to search for homes online. And most of those buyers are looking for homes that are equipped with modern features and sensibilities.   

If you are thinking about selling your home, it’s imperative that your property is represented well online.  Homeowners and real estate professionals who understand how to advertise and highlight a home’s desired features will greatly improve chances for a quick and profitable sale. 

Our professional real estate team combines years of experience with advanced marketing and the latest technology.  Here at Blanchard and Calhoun, we will provide you with valuable insight that you make your next real estate experience a success!

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