The idea that Millennials are totally fine with tiny homes is a bit overblown. It turns out that they value space more than anything.
Zillow reports that, according to a recent poll, 56 percent of Millennial buyers said that having a large home is important to them, compared to 42 percent of Gen Xers and 35 percent of Baby Boomers. New census statistics found that the median square footage of a new house is 2,500 square feet, up from 2,000 square feet 17 years ago.
Millennials are even skipping past smaller starter homes and making bigger move-up homes their first purchase. Partially influenced by popular home design television shows, younger buyers want spacious homes with open floor plans.
“People want to be able to be in their kitchen and cook, but also be with their family,” said Mary Dignan Hill, a real estate agent with John Aaroe Group in Southern California. “Where you used to have a separate kitchen, a separate dining room and a separate television room, it’s all becoming one big space.”