Millennials have largely avoided home ownership because of the challenges they face: higher unemployment, lower wages and student debt. They comprise the largest generation in the country and will be the major force in the workplace.
They are thrifty, family and socially conscious. They are car neutral, preferring transportation options and walkable communities. Millennials have only delayed marriage and home ownership. They will purchase homes just like their parents, whose basements, FYI, they are eager to vacate.
They prefer open space to square footage, efficiency to excess and are not too elitist to recycle space for multiple functions. They will forego outdoor areas and share green rooftop space. Enter an updated “smart house” or CONDO with low maintenance, a home office, ample cell and internet connections for tech toys and you have written the code for millennial home sales.
Information, not ads, is key. We, housing professionals, in understanding the millennials, can reboot our inventory to their focus. Then launch the data to social media and their mobile devices.
For information regarding mortgages that empower millennial home sales, call Mike at 1 (800) 239 1103 or email Mike@mycahomeloan.com.
