What Young Buyers Desire When Buying a Home

Young couple moving in new home

Younger home buyers who are tech savvy and mobile in nature have certain expectations when looking to buy a home:

They are thinking green
Gen Y (or Echo Boomers who were born from the early 1980s to early 2000s) desire green features in their homes. They appreciate efforts made to reduce their carbon footprint as well as lower utility bills. (Energy-efficient windows and appliances are desirable.) Read more about green features here, here and here.

Techie stuff
These home buyers prefer tech-friendly homes. Conveniently located USB ports, as well as thermostat and security controls via mobile apps will catch their attention. See a sample of such a thermostat here

Multi-purpose rooms
Younger buyers seek spaces that will serve their needs. Can they easily transform a room into a home gym, game room or office? They definitely want a place to enjoy their large-screen television and surround sound.

Smaller and open spaces
Manageable, smaller spaces are desired, and some younger buyers also seek one-floor living. They also prefer open space floor plan concepts in their homes.

Ready to move in
DYIers? Not so much for these home buyers. They prefer ready-to-move-in homes.

Millennials Want To Buy Homes

PulteGroup Home Index Survey

PulteGroup Home Index Survey

The PulteGroup Home Index Survey conducted a national survey of renters aged 18-34 years old with an income that exceeded $50,000:

  • 65% of those surveyed indicated their intention to buy a home had significantly increased in the past year
  • 90% plan to buy a home someday
  • Desire to own and build equity was the primary reason to purchase a new home
  • 12% are tired of apartment living

What are millennials looking for in a home?

  • Value with efficient use of space
  • Floor plan layout is very important with 69% preferring an open space floor plan in the kitchen and family room
  • 84% are looking for good storage for daily items
  • 76% need space for the television
  • 64% are looking for outdoor living or a deck