Gen Y home-buying trends revolutionize the housing market
The housing market is thriving in many parts of the country, and the driving force is an estimated 92 million Gen Now consumers between the ages of 19 and 37 (aka Gen Y or Millennials) that will enter the market to become new homebuyers by the year 2020. These consumers have grown up during the introduction of the Internet, social networking, mobile devices and a huge recession. Not surprising, this massive group is demanding far different features in their homes from what their parents and grandparents have desired in the past, and it may forever change the way homes are designed and built in the future.
“Gen Now is taking a fresh approach to homeownership by seeking simpler living with smart upgrades,” says Carl Hill, director of marketing at Clayton Homes. “They want modern styles and technologies without feeling like they are living beyond their means.”
Top housing trends among this generation include:
Open floor plans are a must. They want spaces to work together and encourage interaction, not separation. The kitchen is still viewed as the heart of the home, and it must be a place where socialization can thrive. Other spaces must work with the flow of the home, with thoughtful design used for bedrooms, bathrooms and laundry spaces. Built-in storage is a must to maximize the utility of space.
Energy efficient design
This generation sees their homes as a reflection of their own values, and because so many of them value green living, they want a home that complements this lifestyle. Energy-efficient upgrades are considered a worthwhile investment, such as upgraded appliances and ENERGY STAR certification. These energy efficient features can be found in many new Clayton Home models. Learn more at www.claytonhomes.com.
The modern homebuyer wants a home that is connected seamlessly with their smart devices, and that means incorporating plenty of tech-friendly gadgets and wireless features into the home design. Electronic drop zones next to entranceways, device recharging stations in work areas and family rooms, and plenty of home-automation upgrades in the kitchen and entertainment spaces are what Gen Y wants in a home today.
Modern homebuyers have a keen eye for use of space and how they will need to use these areas, which is why they want homes that flex to meet their changing needs. Rooms created for transitional use might include a flexible game/entertainment room, or an office that can easily be morphed into a nursery in the future. Clayton Homes offers home layouts that can hide or open up spaces via sliding barn-style doors, depending on when socialization or privacy is preferred.
A savvy group when it comes to their design preferences, this generation may take a simpler approach to living, but they want their spaces to be full of style and functionality. They love integrating bright color, thoughtful design and rich texture throughout interiors. They want a home that is a reflection of their own personal style – something more unique than the cookie-cutter home designs they associate with their parent’s generation. They want a mindful and organized approach to customization to craft a house they can call a home for many years to come.