Since a recent study by the National Association of Realtors discovered that millennials are the largest current group of U.S. home buyers — 34 percent — we at ICI Homes thought we’d tell you more about this generation.
Millennials generally are people who reached adulthood in the 2000s. As another decade passes, it won’t be long until we’re examining traits of the next generation. But for now, millennials are rocking a lot of statistics in a lot of different industries due to their buying power.
Whether or not they intend to, they’re influencing our culture with their tastes. So let’s break down how millennial home buyers and the builders, designers and sales people who are ready to help them purchase a new abode, can help each other.
Let’s speak the same language
Yes, let’s. Most millennials research anything unfamiliar with lightning speed on their digital device of choice. But unless they have friends or family in the real-estate biz, many of them may say “What?” at a lot of the terminology. Try things like, “closing costs,” or, “elevations.”
Sometimes, the device of choice doesn’t produce a satisfactory explanation.
If you’re a millennial searching for your first home, don’t hesitate to pester the real, live sales agents, designers and builders you’ll meet during your research. Ask questions. Take the flyers, handouts, business cards and website addresses. That’s why all that material exists.
Call those people if you have questions. Mine their websites for information. If you end up purchasing a home from them and appreciate the experience, recommend them to other people.
Let’s move fast
Millennials are the first generation to grow up with computers in the classroom, social media and a digital lifestyle. They love smart homes, life hacks and not waiting in line.
They will move on if they don’t receive timely replies. So real estate personnel should be mindful of their millennial customers’ tendencies. Reply promptly to texts and emails. Scan and email forms. Don’t overload them with paper unless they truly want it.
Hint: many of them prefer blazing through online photo galleries rather than physical glossies.
Let’s build homes millennials gravitate toward
The beauty of this one is that if you provide cutting-edge homes with quality materials and craftsmanship, at fair prices, you’ll attract ALL generations of home buyers.
Here’s the key for millennials: many of them are purchasing their first home, with the emphasis on “new.” They tend to want the latest version of everything, with the maximum durability, beauty and upkeep that they can afford, because their free time doesn’t include “playing house.”
Mosaic, our new master-planned community in Daytona Beach, is the perfect place. We’re excited about this one because it’s a bit different, yet it still hits the touchstones for any buyer.
We call it a full life community because its amenities already are legendary — check them out here — and appeal to all ages. Millennials will appreciate the fact that Mosaic is a Wi-Fi connected community. Yep, everywhere. We offer smart homes with all the latest digital and technological systems, and fitness trails course through the entire development. There is something for everyone.
Plus, Mosaic’s western boundary is a preservation area — Tiger Bay State Forest.
Sound like a good fit to you, millennial home buyer? Talk to us here.