TEXAS - Better Homes and Gardens Real Estate latest national survey shows Millennial homebuyers (between the ages of 18 and 35) are rewriting the rules to homeownership and reinterpreting traditional norms to fit their values.
Results indicate that 77 percent of the next generation of homeowners seeks essential, purposeful homes equipped with the technological capabilities they have grown accustomed to, as opposed to stereotypical luxury homes preferred by many in their parents’ generation.
When it comes to the next generation of homeowners, 56 percent of Millennials believe home technology capabilities are more important than curb appeal.
If a home is not up-to-date with the latest tech capabilities, 64 percent of Millennials surveyed would simply not consider living there.
Fifty-nine percent of those surveyed would rather have extra space in their kitchen for a TV, as opposed to a second oven, and they seek to be entertained in every room of their home.
In addition, 84 percent of the younger Americans surveyed believe that technology is an absolute essential to have in their homes. The most sought-after tech being an energy efficient washer and dryer at 57 percent, security system at 48 percent and smart thermostat at 44 percent.
The findings also demonstrate that 82 percent of Millennials surveyed prefer to handle home improvements on their own. Nearly one in three Millennials surveyed would actually prefer a fixer-upper to a house with minimal repairs needed.
Read more at MarketWatch.