Throw the idea of millennials living in their parent’s basements eating Cheetos and staying single until they’re forty out the window, that is NOT the case at all. Millennials are vastly approaching homeownership so toss aside all of your second guesses about this generation and get to know how to really connect with them. Let’s face it, your next generation of potential homebuyers is this generation, and yes, they will buy. One in three millennials have already purchased a home in the past year.
Although they are buying homes later in life, they still want the accomplishment of homeownership. The only difference is, they don’t want to buy homes the way that their parents did. Forget all of the paper and meetings in person; they want digital, seeing as how they are called the digital natives. What’s the reasoning behind this? They were born into a generation where almost all of them never lived without internet. They expect to utilize these things not only in their personal and social life, but in their business lives as well.
Not only does the millennial generation want to own a home, they want it instantly. This generation wants to be able to have the gratification of seeing homes online and purchasing online. Don’t get them wrong, they do want to establish a connection; in fact, they feel as though they are the more connected with this process by being able to do take the home buying journey online. Being able to see every step of the home buying process provides them with a frictionless experience.
So, next time you question if millennials will buy when they walk into an open house, remember, they do want the joy of being a homeowner, so target this audience! For additional information about becoming a homeowner, please contact a member of our Housing Buzz Team!