The two BUILDER concept homes under construction at the Inspirada master planned community in Henderson, Nev., will break new ground in the way they respond to the needs of young buyers. Based on detailed market research, the Responsive Home dwellings will incorporate the features and designs most in demand with the burgeoning millennial demographic. Click here to take a virtual tour of the project.
Built by TRI Pointe Group’s Pardee Homes unit, the homes will be open to the public during the International Builders’ Show in January as a showcase of real-world examples of how to reach out to millennial consumers, thanks to extensive market research by New York City-based Ketchum Global Research and Communications.
Architecture firm Bassenian Lagoni is relying on Ketchum’s research to create the pair of contemporary-styled homes that will be relevant to all buyers but will be especially appealing to those newly entering the market—one of the largest (but often misunderstood) groups in the country.
Ketchum’s findings reject many pre-conceived notions about millennials, debunking the myths that they are terrified of home buying and only want to live in urban locations. “We had a lot of misconceptions and stereotypes come up in our research,” says Sarah Unger, Ketchum's vice president of insights & strategic planning.
The research found that millennials, broadly defined as those ages 25 to 34, are mostly gravitating toward homes with urban conveniences in suburban settings, more outdoor space, and customizable living spaces. Living within walking distance to parks and schools and a sense of community also are high priorities. And, research shows that most are first-time home buyers.
“Being able to have the American dream and buy a home but not have it fall into the cookie-cutter version of a home is really, really important to millennials,” says Unger.
The large age range of this group necessitated the need for two demonstration homes, each targeting a different type of millennial buyer: a 2,160-square-foot contemporary farmhouse and a 2,990-square-foot contemporary transitional concept home.
“While we might want to think that millennials are one homogeneous group, they’re really not,” says Linda Mamet, vice president of corporate marketing for TRI Pointe/Pardee Homes. “So we’ve got to understand the generation’s nuances such as the different price points and different age groups right through from just starting out to having young families.”
In this exclusive series we’ll explore the many ways the BUILDER concept homes respond to the needs and desires of a range of young adult buyers through the following lenses:
—The demand for personalization
—Flexible floor plans that change with the buyer’s needs
—Smart home technology