Just recently, the “Millennial generation” (born after 1977, ages 19-35) has become the largest demographic group, surpassing the Baby Boomers (ages 52-70). They might be the next buyer of your home, so one may want to consider their must-haves in the design your home remodeling projects and allocation of your home remodeling budget. What are the top features they want in their homes?
As Millennials begin to enter the home buying market in larger numbers, well designed laundry rooms and integrated home technology will be essential, said panelists during an International Builders’ Show press conference on home trends. National Association of Home Builders (NAHB) Assistant Vice President of Research Rose Quint unveiled the results of two surveys: one asking home builders what they are most likely to include in new homes, and one asking Millennials what features are most likely to affect their home buying decisions.
Of the Top 10 features mentioned by home builders, four have to do with energy efficiency: Low-E windows, Energy Star-rated appliances and windows and programmable thermostats. Other top features include a master bedroom walk-in closet and a separate laundry room.
When NAHB asked Millennials what features fill their “most-wanted” features, a separate laundry room topped the list. Storage is also important, with linen closets, a walk-in pantry and garage storage making the Top 10 along with Energy Star certifications. In fact, this group is willing to pay 2-3 percent more for energy efficiency that will lower utility bills. Respondents said they’d be willing to drive a little farther to work, shops and schools to get the features they want, and are unwilling to compromise with less expensive materials.
Millennials’ have an emphasis on the importance of integrating outdoor living and seamless use of technology. Millennials seek less expensive, low-maintenance choices like a brightly painted front door, and larger patios rather than having to care for yards. They’re increasingly seek ways to control their heating and air-conditioning and security and lighting as well as electronics like televisions and sound systems from their smart phones and tablets. “They want to use their brains for other things, not for remembering whether they adjusted the thermostat or closed the garage door,” said Jill Waage, editorial director for home content at Better Homes and Gardens.
Happy Home Remodeling!
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