Millennial buyers currently comprise the largest group of buyers in our area; in fact, millennials received over 60% of San Jose’s mortgages last year, according to 2022 studies. So what are buyers of this group looking for in a home, and how does yours measure up?
Outdoor Living Spaces
Space is a high commodity in the Bay Area, and that means homes with dedicated outdoor areas can command a premium. However, that doesn’t diminish their popularity with millennial buyers who seek spaces to enjoy with their pets and growing families.
Raised in the age of the personal computer, it’s no surprise that millennials are a tech-savvy bunch. As such, buyers of this group prefer smart features like door locks, thermostats, lighting fixtures, and even appliances enabled with WiFi.
Categorically, millennials are advocates of eco-friendly living, so they look for homes that are energy-efficient, highly functional, and as sustainable as possible. Preferred amenities include solar panels, EV wiring, LED lights, insulated windows, and renewable materials.
Millennials are a generation on the go, and this fast-paced lifestyle means they often have little time for cleaning or upkeep. They shop for homes that save time by way of easy-care wood or luxury vinyl floors, sealant-free quartz countertops, and native landscaping that needs little watering or trimming.
Perhaps unlike previous generations, millennials embrace constant change—and this mindset is no different at home. Open layouts are sought after because they give millennial buyers flexibility to change things up to suit their ever-evolving needs.
Millennials tend to prioritize homes with easy walkability to schools, parks, groceries, restaurants, and other local amenities. This high degree of access saves them time, promotes health and wellness, and helps millennials feel integrated into their surrounding community.
This list mentions many features millennials prize most, but that doesn’t mean your home won’t sell if it lacks one (or even all) of these features. However, it’s important you work with an agent who knows how to expertly market your home across all demographics in order to get the very best results.