11 May A Home Builder’s Guide to the Millennial Buyer
Are millennials ever going to buy homes?
According to the National Association of REALTORS Generational Survey, millennials are the biggest pool of homebuyers at 32% of the market as of 2015.
This up-and-coming generation holds very different values than their baby boomer and Gen-X predecessors. Born between the 1980s and early 2000s, millennials are experience-focused, goal-oriented and value mobility in work and life.
If you are struggling to connect with this growing demographic, you are not alone. Here are three attributes to keep in mind when positioning your project for this puzzling young market:
Always on the lookout for a new adventure, activity, and hot spot, your brand should paint a vivid picture of the lively entertainment, leisure options, and nearby amenities. Millennials are not interested in doing the same thing twice and prefer to be discovering new places. Accentuate the opportunities for exploration, movement, and vitality for a more successful brand strategy.
While these young buyers may not be able to afford a home in a true urban downtown, you can give the impression of a city lifestyle by incorporating urban ideas, trends and culture into your communication, while highlighting convenient access to metropolitan areas. For the millennial crowd, it’s all about being central, mobile, and connecting with their environment.
While the modern millennial is often aspirational and idealistic, functionality is still on the top of their minds. Think low-maintenance, long-lasting, reasonable price points, and green features. Constructing a careful balance between the practical and inspirational in your communication strategy is key when creating appeal for the millennial market.