Buying home is still a traditional thing for a millennial to do in present day and age. Millennials do not want to settle down and stay in one house for the rest of their lives. Theirs’s is a generation born between 1980 - 2000, and the ones who can afford to buy a home are mostly first-time buyers. They are the ones looking to gain more experience rather have a house full of possessions. But those who decide to buy a house, are not sticking to the conventional methods for it. They are experimenting here as well. Let’s have a look at what do millennials want in a house:
- SMART HOMES
Millennials come from the generation which has seen the birth of digital and have lived all their lives being influenced by it. Be it video games, internet, movie CDs/DVDs to Blu-Rays, landline to mobiles and then to smartphones etc. we have seen all of it. So now, we do not want the conventional 2-3 room house but a smart home irrespective of the size of the house. Wi-fi, big screen TV, smart LED lights, efficient energy source, assistive technology etc. are few things that are must-haves in today’s millennial home.
- BIGGER KITCHENS
Millennials prefer to congregate in the kitchen instead of living rooms now. So, they want to have bigger and open modular kitchens where they can spend quality time with their family and friends while cooking & sipping on a fine glass of wine or whiskey over weekends.
- OPEN SPACES
First-time buyers are looking for open spaces in a small apartment as well. Depending on their jobs, many works from their homes and have office their only. So, they want the freedom to be able to utilize the open and free space in the house as per the need. A slightly smaller but open home would work just fine for them.
- DISTANCE MATTERS
This is one of the conundrums which millennials have not been able to solve yet. They do not want to travel to work for long hours, but they can’t stay near the office as the area is always crowded. And, they do want to live in suburbs, where apartments are bigger, and the air is fresher, but they do not want to travel that much. They are in constant flux in this regard.
Millennials are the ones who are investing in real estate properties and are going to continue investing in the coming years as well, as most of them will be able to afford ‘buying a home’ soon. Their demands are continuously changing, and they are not ready to compromise on them. They are willing to wait for the kind of residential properties they are looking for instead of buying whatever they are getting. Hiranandani Communities have been offering their properties in Mumbai & Navi Mumbai keeping the new age buyers in mind. Check them out to finalize your next or first luxurious apartment.