Millennials nowadays are often perceived as spoiled brats and too dependent on technology. A lot of young adults belonging to this generation may feel hurt and shake their heads in protest in such a statement. Unfortunately, this may be true in some instances.
On the other hand, there are a lot of young adults out there who are slowly changing the world for the better. They are not always the ones who enjoy house parties and bar-hopping. Rather, there is young blood who continue to thrive in their chosen fields and have a promising future ahead.
These younger generation adults are also able to generate income for themselves. In fact, young adults ranging from their late 20s to early 30s consult Wichita's real estate agents to buy their first property. No wonder that homeownership among millennials within the said age range is up to four times higher than those of other age groups.
Of millennials and homeownership
It is said that there are two types of millennials: those who belong to the older millennials (aged around 22 to 37 years old) and those who belong to the so-called “post-millennials (21 years old and below). Both millennial groups are busy building their careers and earning money for themselves.
Older millennials are said to be able to afford to buy property, unlike the younger ones, who prefer renting as they are still in the process of establishing their careers. Nevertheless, homeownership among millennials has contributed a lot in the economic recovery in the US in general.
It is true that millennials are heavily invested in technology in looking for the things they need. In fact, a recent report from the National Association of Realtors revealed that almost all millennials tend to search for home buying and other real-estate concerns online through their smartphones.
Given this trend, it has affected how real estate brokers and agents deal with their young clients. Back then, real estate agents were expected to be equipped with tons of information about the properties. Nowadays, it is a matter of how agents can negotiate with potential clients and retain current clients as well as keeping themselves updated with the latest real estate trends.
What millennials love in a property
Among popular home designs, a lot of millennials prefer are the following:
- Mediterranean – those with Italian or Spanish exteriors and detailing
- Mid-century houses – houses built around the 1940s to mid-1960s
- Pre-WW2 – can be Italianates, Victorians, Tudors, Greek Revivals, and any property with the Old World appeal
Millennials are also particular with the interiors such as in the kitchen. For example, millennials prefer modern appliances and décor such as stainless steel dishwashers, granite countertops, cabinets with glass door panels, and built-in microwaves among a few.
In the bathroom, they usually prefer ones with motion light sensors, dual-rain showerheads, power-assisted bidets and toilets, and lots of stone and glass in its interiors. Millennials also love their homes to have extra rooms such as wine cellars, entertainment rooms, and a fitness area.
Property hunting can be fun yet challenging, no matter what your age. It needs careful consideration on your part so that you will get the most out of your money.