Millennials Homeownership

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millennials homeownership

Must-Have Features For Millennials Homeowners

It should come as no surprise that with numbering just over 75 million, today’s 21- to 37-year-olds also known as “millennials” are the largest generation in US history.

What makes this group of individuals SO unique to this market is that they are more diverse, tech literate, and educated much like the single woman homeowner cohort.

What’s more – millennials are married and have children much later than previous generations and now are experiencing the 2019 USDA Income Limits Increase.

This then follows the evident observation: millennials are now in peak home-buying years, yet – they are becoming homeowners later!

millennials homeownership

Updated Bathrooms for Millennials Homeownership

Younger buyers are working with a limited budget and bathroom renovating is the most expensive part of a home update.

missing millennial homeownership endangers the american dream

Millennials Homeownership and Big Kitchens

A big open kitchen has replaced the need for a dining room. Most young buyers wanted the kitchen to be directly connected to the living room.

Open Floor Plan with Millennials

Young Buyers prefer open plans instead of a layout that sections off rooms. This is so that during gatherings everyone is together in one room instead of being separated.

Home Office are a Must for Millennials Homeownership

Working at home is becoming very common with the younger generations. Having a dedicated workspace has become a must for young buyers. This is because millennials and a global trend in general are heading towards self-employment and work-from-home environments.

home ownership among millennials

What about Hard Floors for Millennials Homeownership?

Young buyers prefer hard floors over carpet because of the low-maintenance that comes with hard floors.

They don’t want to spend weekends cleaning.

Energy Efficiency & Technology for Millennials

With energy bills getting more expensive millennials have become more conscious about buying green.

Internet providers and mobile phone services, are a make it or break it feature for younger generations of home buyers.

If you’re wondering if you can still buy a home with student loan debt, USDA Loan Info laid out the steps in a previous post here:

USDA Loans & Student Loan Debt