Millennials who are able to be homebuyer prospects are seeking not only smaller houses, but also ones that are more energy efficient and healthy.
They are moving out of cities, which are too costly and seeking houses that are smaller and require less maintenance and lower expenses for heating and cooling. The houses are less expensive to purchase and operate and offer the opportunity to enjoy more leisure activities.
Both Millennial partners most likely have to work in order to afford being a homeowner. Therefore they have less leisure time. What extra time they do have, they prefer using it to enjoy outdoor activities such as hiking and biking or traveling, rather than spending their time performing household duties like mowing lawns and cleaning gutters.
Advertisement
Related Stories
Design
What Gen-Z Buyers Really Want in a Home
The fervor of planning for Millennials in the home building industry has now pivoted to Gen Z. So, what does this new generation want?
Demographics
Post-Pandemic Trends: Working From Home
A greater share of workers are still working from home than before the pandemic and they're concentrated in the information, professional, and financial services sectors
Demographics
Millennials on Top Again as Largest Homebuying Group
Millennials beat out Boomers as the largest homebuying cohort, according to a recent report, but Boomers remain the largest generation of home sellers