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What Millennials Want In A Home PR

The millennial generation is a market changer for the past five years. India has about 45% of earning workforce as Millennial, which itself is a considerable percentage. This is prevalent even in the real estate and housing in India. Millennial have the power to influence any market, considering their significant role in every sphere of life.

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What Millennials Want In A Home PR

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  1. WhatMillennialsWantInAHome Bangalore,beingtheTech-hubofIndia,isalsooneofthemostpreferredplacesamongmillennialsandgenerationZ.Anever-growingITindustry,continuousflowofforeigninvestment,andimmensegrowthopportunityareprobablyreasonsforsuchahighflockMillenialdriveintothemulti-ethniccosmopolitancity. Withsuchlargedemographybeingdominantbythemillennialpopulation,itisevidenttoimpacteverysphereoflife,includingthereal estate in Bangalore.Theyoungergenerationshavedifferentchoicesandpreferencesregardingbuyingahomeorconceptualizingadreamhome. Itisnothiddenthattheirlifeisfast-pacedandrevolvesaroundmodernity.Hence,itisevidentthattheseelementsshouldbeincorporatedintothehomes.Morethanhomes,themillennialspreferready-to-move apartments in Bangalore.Althoughtheydesiresomeofthesamethingssimilartotheirparents,theirchoiceofamenitiesalsodramaticallyvariesinseveralaspects. So,herearesomeofthecriticalpointsthatcanunderlinewhatthemillennialswantinahome.TherealestatedevelopersinBangaloreandeverywhereelseshouldalsokeepinmindwhiledevelopingpropertiesthatcanindeedbecalledthemillennial’shome.

  2. Themillennial’shome:Whatthebuildersshouldfocuson Real estate companies in Bangalorefacenewchallengesasmoremillennialsenterthehousingmarket.Millennialsarepurchasinghomeslaterinlifethanpreviousgenerations,andtheyareprecedingmanyofthestandardfeaturesthattheirparentsdesired.Thedesireformultifunctionalandcommunityspacesandhomeswithmodern,sustainableelementsisamillennialtrend. Excellentlocation Somethingsremainconstantacrossgenerations,suchasthesignificanceofthelocation.Accordingtostudies,millennialsprefertoliveneartheirplacesofemploymentandrecreationalactivities.Whenitcomestochoosingahome,thisisahugedecidingfactorforthem. You'dthinkthatcitieswouldaccommodatethisrequestbetterthanthesuburbs,butthatisn'talwaysthecase.Peopleintheirtwentiesandthirtiesarelesslikelytoliveincities.Thisshowsthatanurbanlifestyleisn'talwaysthebestfitforthisgeneration. OutdoorSpaces “Seventy-fivepercentofmillennialswantrelaxingoutdoorspaces,” accordingtoTraditionalHomeEditor-in-ChiefJillWaage.Thisincludesamenitieslikevegetablegardens,decks,andfences. Spendsometimefocusingoncurbappealwhenpreparingyourhomeforthemillennialbuyer.Isthereenoughroomtorelaxorhostanoutdoorgathering?Itdoesn'thavetobeahugebackyardwithawhitepicketfence,butitshouldbeaplacewherepotentialbuyerscanrelaxwiththeirfriends(oragoodbook).Therearealotofgreatlandscapingideasforsmallyards. Considerwhetherthereareanyoutdoorextrasyoucouldincludewiththepurchase.Isitpossibletoincludeagrill?Whataboutthelawnmoweronwheels?Whenitcomestopotentialhomebuyers,aperkcanmakeallthedifference. LargeKitchen Oneofthetopprioritiesformillennialhomebuyerswhenlookingforahomeisalargekitchen.Millennialspreferopenfloorplanswiththekitchen,dining,andlivingareasallconnected,whereasGenXandbaby-boomergenerationspreferredformaldiningrooms. Community,cooking,andentertainingareimportanttomillennials.Ahugesellingpointisalargekitchenandopenfloorplan,includingakitchenislandandinformalseating. Modernconveniences Whilemostmillennialsaren'tconcernedwithspace,theywanttheirhomestohavemodern,high-functioningamenities.Thisincludesappliancessuchasdishwashers,washers,anddryers, aswellasexercisespace.Whenitcomestosellingacondo,havingaccesstopersonal

  3. amenitiesisn'talwaysnecessary.AccordingtoastudybytheNationalAssociationofHomeBuilders,morethan80%ofmillennialswantlaundryrooms,hardwoodfloors,patios,andgaragestorage.amenitiesisn'talwaysnecessary.AccordingtoastudybytheNationalAssociationofHomeBuilders,morethan80%ofmillennialswantlaundryrooms,hardwoodfloors,patios,andgaragestorage. Anotheramenitythatmillennialsareinterestedinishomeautomation.Manypeoplewantthesamelevelofinteractionwiththeirhomesastheydowiththeirsmartphones.Smarthomescomeinvariousconfigurations,includingautomatedsecurity,heatingandcooling,lighting,andsoon.Startthinkingaboutwaystomakeyourhomemoretech-savvyifyouwanttoappealtomillennials. Eco-friendlydesign Millennialsareconcernedabouttheirhome'senvironmentalimpactandoverallenergyconsumption.Considerhowyourhomecanfitintothatnarrativewhenmarketingittomillennialbuyers.Therearenumerousmethodsformakingyourhomemoreenergy-efficient,manyofwhichcanbeimplementedquickly.Thesechangeswillnotonlyappealtotheirvaluesbutwillalsoassistmillennialsinsavingmoney. LowMaintenance Everythingmustbequick,efficient,andlong-lastingformillennials.They'reamicrowavegeneration,andtheyvalueconvenienceaboveallelse.Considerrenovationsthatappealtotheutility-consciousmillennialwhenpreparingyourhomeforsale.Considerhardwoodfloorsinsteadofcarpeting,whichstainseasilyandrequiresfrequentvacuuming.Similarly,theymightprefersyntheticorcompositedeckingtoatraditionalwoodendeck.Thisoption,whichisfrequentlymadeofrecycledmaterials,willonlyrequireaperiodiccleanwithsoapywater. Theselow-maintenancealternativescanevenbeusedintheyard.Considerxeriscaping,whichislow-maintenanceandrequireslessmowingtimeinthesummer. SpaceswithMultipleFunctions Whilewecan'tcategorizeallmillennialsintoonegroup,thereappearstobeatrendtowardmoreopeninteriorlayoutsthatcanbeusedformultiplepurposes.Theydothisforavarietyofreasons,bothsocialandpractical. Thisallowsthemtoengageincasualconversationwithvisitorsthroughoutthehouseintermsofsocialinteraction.They'renotjustlimitedtohostinginthediningroom.Theyhavethefreedomtomovearoundthehouseandentertainontheirterms. Theconclusion Consideringthemillennial’srequirementsareessentialforrealestatecompaniesacrossIndiatogivetheconstructionindustryanewtrend.CompanieslikeManaProjectshavealreadystartedthetrendandarealreadyfocussingonfuturistichomes(CheckoutManaCapitol).Otherreal estatecompaniesandbuildersstillhavealongwaytogointhistrend.

  4. Undoubtedly,millennialswillbethemostsignificantdemographiccategoryactiveinpropertytransactionsinthecomingyears.Hence,thesoonertherealestateindustryunderstandsthat,thebetterwillbenefitallstakeholders.Undoubtedly,millennialswillbethemostsignificantdemographiccategoryactiveinpropertytransactionsinthecomingyears.Hence,thesoonertherealestateindustryunderstandsthat,thebetterwillbenefitallstakeholders.

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