As part of my effort to help our team find the right focus for the current climate, I decided to look into what the younger buyers are wanting. I was trying to find information on the group of people who values experiences more than things, and might want a minimal dwelling place that’s easy to care for and can be left for long periods while off traveling the world and experiencing things.
I didn’t find that, but I did find out some facts from recent research about millennials and their home-buying habits. The first thing that stood out was that all the articles I read insisted the younger buyers are going to do their due diligence and research the heck out of any house they buy. This means to successfully reach them, our internet tools need to be updated and current. At least we have all those Facebook pages, websites, Twitter feeds and so on. They are wanting GOOD photos, and drone images, please. Oops. Does Russell have a drone?
It’s important to remember that they use their phones for everything, including buying houses, which means internet marketing had better be mobile friendly. I do know I need to Instagram more, whether I like it or not; it’s my job.
As we are finding out, younger buyers also study up on home buying, so they will want certain things, like energy efficiency and smart appliances. I’m assuming this refers to well-off millennials, who usually aren’t our market.
I had predicted that younger buyers would want smaller homes, for ecological reasons, and while Dave Ramsey said they are “concerned about how sustainable and usable each space is,” other sources said they are still wanting large homes, so they can start families (which they do later than in previous generations). I guess, like with every other generation, there will be different groups with different needs!
Of course, they still are wanting “open concept.” Everyone imagines those large family gatherings and constant supervision of the young ones, I guess.
(I hope you enjoy my imaginary millennials. They are mocking me.)