The Latest Craze in Housing from the Trendiest Generation to Ever Wield a Sledgehammer
Millennials are on the move. This generation represents roughly 75 million people – making it the largest generation currently living in the U.S., which is why they command so much attention from marketers, small business owners, large corporations and home builders. Defined by Pew Research as the generation born between 1981 and 1996, that puts them at 23 to 38-years-old in 2019 – prime renting and first-time homebuying ages. According to REthority – the Authority on all Things Real Estate, the median age of a first-time homebuyer is 32. While production builders continue to build “cookie cutter” homes at price points that millennials may find attractive, more and more millennials are seeking homes that are customized to their unique tastes and needs in some of the trendiest neighborhoods they can afford. And with the average age of first-time moms being 26 and first-time dads being 27, family-friendly floor plans also rank high on their wish lists. Some millennials may look at a new home as a future investment opportunity – one they can rent out at a later time for some added income. With that investment in mind, they also consider factors like walkability, convenience to mass transit and desirable school systems.
The National Association of Realtors (NAR) indicates that millennials accounted for 36 percent of all home purchases nationwide in 2017 – with 65% of them being first-time homes. The 2018 Home Buyer and Seller Generational Trends study also illustrates that only 15% of millennials bought in urban areas, with the majority seeking homes in the suburbs. Niche lists Decatur, Johns Creek, Alpharetta, Berkeley Lake, Vinings, Peachtree Corners, Milton, Suwanee, Druid Hills, Roswell, Smyrna, Duluth and Tyrone among the best suburbs in Metro Atlanta to live. According to The Balance, popular styles and ages of resale homes for millennials include: Pre-WWII – featuring everything from Arts & Crafts bungalows and colonials to English Tudors and Victorian-inspired homes; Mid-Century – built between 1945 and 1965, these homes tend to weigh heavily on the Frank Lloyd Wright influences; and Mediterranean – enjoying an earlier rein in the late 1920’s, this style of home boasts stucco exteriors, tile roofs, Spanish or Italian details and grand entrances.
Bear in mind that this generation also grew up on reality TV, which may explain a growing trend towards finding a great deal on a home and renovating it – either by going it alone or by enlisting the aid of a professional. Since that first option could lead to some costly mistakes, it’s the wise choice for millennials to partner with a company that will listen to their ideas and may even let them swing a sledgehammer and aid in the demolition. At Highlight Homes, we’ve had a great deal of success reimagining the exterior and interior of older resale homes by adding many of the on-trend additions today’s homebuyers are seeking. Included among them are open concepts, eat-in kitchens with large islands, farmhouse influences like shiplap walls and sliding barn doors, and so much more. If you’re a millennial seeking a resale home with the intention of renovating it to fit your vision, you may want to partner with the Highlight Homes team to help you find the ideal home in one of Atlanta’s up-and-coming neighborhoods. We can even help you find the right financing to include the price of the home and any renovations you have planned.
To learn more about Highlight Homes and take a peek at our gallery of past projects, please visit www.highlighthomesga.com. Once you’re ready to get started, contact us at 678-874-9234 or firstname.lastname@example.org. We welcome the opportunity to help you create a home that is uniquely YOU – your very own “Millennial Manor”!
Sources: https://rethority.com/2019-real-estate-statistics/ https://www.census.gov/housing/hvs/files/currenthvspress.pdf https://www.niche.com/places-to-live/search/best-suburbs/m/atlanta-metro-area/ https://www.thebalance.com/trends-for-home-buyers-1798348 https://www.nar.realtor/research-and-statistics/research-reports/home-buyer-and-seller-generational-trends