There was a time when people bought homes based on functionality. The house needed to have a separate laundry room, or a 2-car garage, or a play room for the kids. Today, people are looking at their lifestyles to decide on the type of house that they desire. There are several things that could be dictating this new homeownership trend for millennials. Here are several lifestyle preferences that have taken center stage when buyers are choosing their next home.
Sustainability has become a big factor for homeowners. They want their homes to be built or equipped with eco-friendly materials and products. Homeowners are also selecting locations that can allow them to have more sustainable lifestyles. They may select homes that offer a place to grow their own food or raise livestock. They may also select places that offer more energy efficient resources such as access to solar power or wind power grids, or geothermal heating and cooling capabilities.
Mobility and Simplification
For some home buyers, they are looking to simplify their lives due to the fact that they have more mobile lifestyles. They may have a job which requires them to travel much of the time. The buyer may also want to take vacations and will be at their house for only short intervals throughout the year. For these types of homeowners, they want minimalist homes that provide only the essentials. The person can simplify their lives with only have the things they need when they are there for several weeks and months, as they can also save more money that can be placed toward their vacations.
Recreational and Hobby Buyers
Buyers are seeking out homes that are a better fit with their recreational lifestyles and the hobbies that they enjoy. So there may be millennials seeking to buy a ranch to raise horses, or looking for a beach house because they are surfing enthusiasts. These types of homes will help them pursue their recreations and activities to their fullest as they enjoy a lifestyle that targets all their interests.
As lifestyle preferences are dominating how a person selects a house, brokers and real estate agents need to sit down and learn about what really interests a homeowner. They must look beyond square footage and material selection, and find out if there are other preferences that the buyer desires which can help the agent find the perfect home for their clients.