The Millennial generation is showing a preference for fixer-upper houses
over the “cookie cutter” luxury homes their parents’ generation tended
to desire, according to a national survey by Better Homes and Gardens
Real Estate.
About one in three 18-to-35 year olds recently surveyed say they prefer a
“fixer-upper” home with minimal repairs needed. Forty-seven percent say
they would be more likely to handle home maintenance jobs themselves
over calling in a professional for help. What’s more, 72 percent of
Millennials consider themselves handy, earning the nickname the “Fix-It
Generation,” according to the survey.
They also aren’t looking for big, luxury homes like their parents, and
they don’t mind if a home is smaller, as long as it’s unique, the survey
showed. Forty-three percent say they want a home that is more
customized and different – less “cookie cutter.” They expect each room
in the house to fit their lifestyle.
Also, 56 percent say that home technology capabilities are more
important than a house with great curb appeal. Sixty-four percent of
Millennials said they wouldn’t even consider living in a home that
doesn’t have the latest tech capabilities. Eighty-four percent say that
technology is essential for their new home, with the most sought-after
tech in the home being an energy-efficient washer and dryer, a security
system and a smart thermostat.
“It’s critical that real estate professionals understand what embodies a
quintessential home for the millennial generation, which vastly differs
from the traditional norms of generations before them,” says Sherry
Chris, president and CEO of Better Homes and Gardens Real Estate LLC.
“Understanding technologies to communicate with this generation is now
only one piece of the puzzle for agents; ‘smart’ technological
capabilities must now be ingrained into the home itself.”
Source: Realogy
© Copyright 2013 INFORMATION, INC. Bethesda, MD (301) 215-4688
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