Millennials may be entering the market late as a first-time homebuyer, due to student loan debts or delayed marriage, but, as they do, builders should ensure that their homes include the preferences and demands of this demographic.
What drives the millennial market to take action when looking for their first home purchase? Premium upgrades are the most attractive element to consider which can include the following:
Indoor Outdoor Living Spaces
Making the space feel bigger than it is, as well as providing flexibility in the way a space is utilized is key. Entertaining is very important to millennials and considering that this group is likely coming from a small apartment or rental situation, being able to picture themselves entertaining friends and family in an expansive setting where the room flows freely from indoor to outdoor suits their lifestyle. Homebuyers may prefer to invest in windows and doors, rather than cabinets or tile, so, homes that include solutions such as moving glass wall systems or Essence Series® sliding patio doors are attractive, especially when they use modern materials.
Warm in winter and cool in summer gives the millennial consumer peace of mind that their home investment will pay off not only in comfort, but, reduced heating and air conditioning bills. Windows and doors with dual pane glass and Low-E coatings help to provide consistent temperatures year-round and help carpet and furniture resist color fading. Take it a step further by meeting green building efficiency standards with ENERGY STAR® ratings and fuel their passion for sustainable living.
Most homeowners prefer utilizing their free time enjoying their home, rather than maintaining the look of it, but millennials are even more inclined to gravitate towards products that require minimal upkeep. Windows and patio door frames constructed of materials such as fiberglass or vinyl are very low maintenance. They come in a variety of colors that are engineered to be impact resistant, which aids in the product not chipping, eliminating the need to re-paint over the years. Plus, windows and doors that offer a full lifetime warranty are particularly attractive, giving the homebuyer assurance that if any difficulties arise, repairs and service are included with no drain on their time or wallet.
Homeownership is still part of the American dream for millennials. They are eager to buy a home, but, are cautiously waiting for the right timing in their life to afford all the extras they desire. Create a home that mirrors their aspirations with aforementioned details and they will gravitate toward the homes you build.